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?

Frequently Asked Questions

Why does studying competitive alternatives matter for positioning?

Because no purchase happens in a vacuum, buyers always choose from an array of competing options. Understanding those alternatives is essential to building positioning that actually stands out among them.

What did HubSpot's research find about businesses that analyze their competition?

That they're 2.5 times more likely to have a positive ROI on their marketing efforts, a direct, data-backed link between competitive analysis and marketing effectiveness.

Why is competitive analysis described as a proven way to gain competitive advantage?

Because understanding what alternatives exist reveals where genuine differentiation can actually be built, rather than accidentally repeating positioning that competitors already claim.

How does focusing on a vertical market make identifying competitors easier?

Because a defined vertical, like non-profits, manufacturing, or dentists, narrows the competitive landscape to a specific, identifiable set of players, rather than facing an unclear, ever-shifting field of broad, generalist competitors.

What are the practical questions worth asking to check on this front?

How well competitive alternatives are actually understood, and whether current positioning is genuinely unique or simply echoes what other competitors are already saying.