You need to ensure that your brand builds authority in the market and this also involves knowing how to analyze the competition, identifying the degree of “threat” they represent to your company and the impact they can have on your business.
Are you curious and want to know more about how to map your competitors and what to do after that?
Keep reading!
What is the purpose of competitor mapping?
The main objective of competitor mapping is clear in the name of this technique itself. The goal is to map, identify and analyze a company’s competitors.
This practice is widely used, especially when it comes to understanding Job Seekers Database what improvements need to be made and what are the biggest differentiators that your company has, which ends up being a highlight in the market compared to the competition.
Therefore, you need to not only observe your company’s competitors, but also analyze the product and service it offers. All characteristics are essential when mapping, including: price, brand authority, cost-benefit, product quality and added value.
Why is competitor mapping so important?
There is a well-known quote from Napoleon Bonaparte that explains the process of mapping the competition very well:
Keep your friends close and your enemies closer. (Napoleon Bonaparte)
This ends up being a fundamental lesson when it Azerbaijan Phone Number List comes to identifying who our competitors really are and what the strengths and weaknesses of your business are compared to each of them.
Don’t think that this is just about mapping out the competition with the aim of learning more about other companies in your segment or that offer a solution that can outperform yours.
Furthermore, identifying competitors strengthens the sales pitch and this is essential to ensure success at the end of the negotiation.
