There is always room for competitors on the market. In order to win the competition, a company must have a high-quality marketing strategy which is based on the competitor analysis. It identifies what exactly the competitors are doing and what kind of threat they present for your business. However, the main problem which companies face is a disability to make the precise analysis as it requires a lot of efforts not only for analysis itself but also for collecting and storing data.
The key points in getting valid results could be divided into several parts.
- First, it is vital to analyze the competitors' enterprises in terms of a number of employees, revenue, market share, etc.
- Additionally, a high-quality report requires in-depth analysis of competitor’s products or services. A number of specific criteria need to be defined in order to make products comparison. When the required information is collected, the key advantages and weak points of the products need to be identified. However, this stage takes time, due to the big amount of the information collected, which requires processing during the analysis.
Once the strength and the weakness of the product are identified, it’s time to make SWOT analysis and to create a strong marketing strategy.
Having faced the complexity of analyzing JET BI competitors, we developed Advantage, marketing automation tool integrated with Salesforce®CRM that helps to respond to a rapidly changing marketing situation faster.
The feature, which simplifies the process of analysis is the ability to build informative battle-cards. They allow to consolidate information in one place, learn strong and weak points of the products and competitors on the market.
Another equally important feature is the opportunity to create high-quality reports for CEOs which will be automatically generated, based on the filled in information in the system. These reports will provide users with an overview of the market situation and competitors activities.
Now, when we have Advantage, it takes us less time to receive more accurate results for building a strong marketing strategy.
Looking for a competitive analysis tool, try Advantage - Sales Productivity and Strategic Marketing tool by JET BI.
