Competitor analysis for business from Nexus
That’s what makes a customer open their wallet for the first purchase and come back to you for the second, third, or tenth.But how do you find the right hooks that will help attract the audience, make it loyal and, as a result, increase your profits? To do this, you need to analyse your competitors. Identify their strengths, which will become the basis for the strategic development of your business, and find the shortcomings to transform them into your benefits and unique selling proposition.
Do you need a niche analysis?
Many start-up entrepreneurs unfairly overlook the need to evaluate other people’s activities. However, experienced business owners also often underestimate the effectiveness and practical significance of this tool.
Meanwhile, a simple “comparison” with competent implementation of the results can make a x2 difference in sales (and sometimes even more).
When do you need a niche analysis for your business and competitors? When you:
- planning a business launch: developing a promotion strategy, looking for USPs and differentiating factors from competitors;
- you are launching a new product on the market and are not sure of its demand;
- you are launching a new sales area/channel and want to forecast volumes and formulate a pricing policy;
- you want to improve your financial performance (understand why customers leave after the first purchase, increase the average check, etc.)
Simply put, we recommend conducting a niche assessment for all innovations. From choosing social media to deciding whether to enter the EU or US market with your product.
What is included in the service?
The service includes not only an analysis of competitors’ websites, but also a comprehensive and comprehensive assessment of their business and marketing activities.
We will analyse every little thing that is attractive to competitors’ customers and turn them into the most powerful benefits for your business. In addition to assessing their customer policy, we will:
- analysis of the product line;
- pricing strategy;
- positioning and image;
- of the target audience;
- promotion methods and budgets.
These are the most telling characteristics that will help you build and plan your strategy. However, we do not act in a template and will suggest that you “dig deeper” where necessary or abandon some points if they do not provide a practical result for solving your problem.
What do you get?
You get ready-made answers: who your competitors are, what they do better/worse, who the leader in the niche is and how to take this position. We will also help you identify key product features, formulate assortment and pricing policies, and address many other issues that will lead your business to success.
Describe your task to us. We will discuss it at a free consultation and start implementing it. Don’t give your competitors a chance to “beat you to the punch”!