Competitor Research: Don’t Dismiss the Nobody

I got an interesting note from a client the other day:

I just got an email from Awesome Propsect that they went with another vendor. I’ve asked for feedback but suspect I won’t get much but if I do I’ll send to you.  I do know that the other two vendors I had never heard of before so it wasn’t a major competitor they went with.

Here’s the thing to keep in mind: Just because you’ve never heard of the person or company you’re losing business to doesn’t mean the person or company isn’t a major competitor. Heck, there was a time when most people had never heard of Google (yes, really). Anybody you lose business to is someone to watch, to consider, and to see what they’re doing right.

Don’t dismiss. Pay attention. That’s one of the most important things you can do when it comes to competitor research and buyer personas.

2 replies
  1. robynbradley
    robynbradley says:

    To start, review the competitor’s website. How “sticky” (engaging) is it? Is it promoting an aspect of a product or service that you also offer but perhaps don’t promote? Is it providing its visitors with information you should be providing but have perhaps overlooked? Is it making claims that smell fishy that you can reference and dispel in a future blog post, newsletter article, etc. Is it making some claims that sound legit, but that you CAN’T make because your product or service doesn’t do that particular thing (and how quickly can you change this)? Do some searches in Google on some of your keyword phrases and see where this competitor is ranking and what pages it’s ranking for. Follow the company on Twitter and Facebook and subscribe to the blog (if applicable/available). You can learn so much from your competition, and it can often inspire you to do things differently and, ultimately, better.

    Reply

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *