Analyze your products and services

Ehsanuls55 · Post by **Ehsanuls55** » Thu Jan 23, 2025 5:22 am

Understanding what your competitors offer and how the market reacts to it is essential to creating a competitive advantage. Of course, this doesn't mean you should copy something from them. Your product development should be guided by what the market demands.

Here's what you need to know here:

Features and solutions

Try out your competitors’ products for yourself and take note of their features. There’s no right or wrong way to approach this. Listing all of MailChimp ’s features and solutions would require an entire spreadsheet on its own, so you’re better off writing a high-level overview.

Prices

In most cases, this will be easy to complete. Look at what price the products are selling chief vice president marketing officer email list for and see if there are any discounts.

For some B2B niches , you won’t find a public pricing page as they are often based on custom quotes. You’ll have to do some ghost shopping for multiple use cases and ask your current or past customers.

Customer rating

Being a marketer makes you skeptical about the reviews you read online. Review generating activities are highly biased, but hey, this is marketing too.

For that reason, you'll want to check out the reviews that are in the middle.

The company may often encourage five-star reviews, and angry customers mostly write one-star reviews in the heat of the moment. For that reason, it's worth looking primarily at 2-4 star reviews to get a clearer idea of what people think about your competitors' products or services.

Review platforms offer all kinds of useful filters in addition to the review score.

Strengths and weaknesses

Now that you've completed your product overview, it's time to summarize it. Write down some strengths and weaknesses based on the product information you've gathered so far.

This is what I have for MailChimp:

Strengths: You will likely be able to do anything you want with this product.

Weaknesses: More expensive than alternatives, probably too overwhelming for a beginner.