In today’s competitive business world, many businesses market their products or services using comparisons. Comparison marketing can give your business the opportunity to highlight your advantages over the competition. However, when you compare your business to your competitors, it is important to focus less on the shortcomings of other companies and more on the benefits you can provide.
Here are a few tips on how to research the features your audience is seeking, as well as those that your competitors are already offering:
- Talk to your customers. Find out who your customers used before and why they switched to you. Ask questions when you lose a customer, as well, and try to identify why they switched to your competitor.
- Join industry associations, and attend industry trade shows and conferences to learn about your competitors and their products.
- Monitor your competitors’ blogs, Facebook posts, and tweets to stay up-to-date and in touch with their promotions and products.
- Conduct a survey to see what people think of your products and why they are (or aren’t) buying from you.
- Gather competitive collateral, and see how your competitors are positioning themselves. If you offer the same outstanding warranty as your competitors but don’t advertise it, you could be losing sales by default.
- Join the conversation by using social media to see what consumers of your products or services are seeking.
- Don’t be afraid to sit back and watch people as they make buying decisions at your business or a competitor’s business. You’d be surprised how much you can really learn just by watching.