The Problem
A web analytics company in a crowded, hyper-competitive market wanted to understand how they stacked up against the competition across key areas like product features, marketing, and pricing to identify opportunities for improved performance and broader market differentiations.
The Approach
We performed a competitive audit of companies offering similar solutions to their positioning, marketing messaging, feature set, and pricing models.
By accessing public-facing documentation and using secret shopper tactics, we collected objective data about each competitors’ marketing and branding as well as their actual customer journey experience.
The Results
Competitive Weaknesses
We isolated holes in competitors’ messaging approaches, finding a way to differentiate our client’s product while staying true to their core product competencies.
Pricing Model Opportunities
We developed a normalized metric for assessing price points across competitors to benchmark industry pricing, and isolated typical ways competitors build incremental revenue streams through feature or usage add-ons.
Message Strengthening
We identified opportunities to leverage more persona-targeted messaging to a hyper-technical audience, helping distinguish our client from the more generic customer targeting used by competitors.
Did You Know...
As categories become more mainstream, staying differentiated becomes increasingly harder. But, my performing competitive audits every so often, companies have a unique opportunity to objectively assess the competitive landscape and find ways to tout key benefits or features that other products just don’t have.
