Studying Competitive Alternatives

Nobody buys your product or service in a vacuum.

Instead, they choose you out of an array of competing options.

That's why studying competitive alternatives to your product or service is essential.

It's a proven way to gain a competitive advantage and uniquely position your product or service.

In fact, HubSpot found that businesses that analyze their competition are 2.5 times more likely to have a positive ROI on their marketing efforts.

And who wouldn't like to 2.5x their positive ROI?

Bonus: when you focus your business on a vertical market (non-profits, manufacturing, dentists, etc.) identifying who your competitors are becomes obvious.

Questions to ponder:

👉 How well do we know the competitive alternatives?

👉 Is our positioning unique or do we say the same thing as the others?