We’ve had a bit of a light bulb moment during a research phase of a recent project for Premier Group.
We were planning an 18 month marketing strategy with our client, reviewing the markets they were keen to explore etc. and they kept asking us how their competitors were approaching the market place, where they were advertising and exhibiting amongst other questions. We couldn’t answer these crucial questions and were therefore commissioned to produce a competitor analysis. A few weeks later we presented our findings, which turned out to be fundamental when we then re-visited the marketing strategy.
How can you create a marketing strategy without knowing things like:
- Who are your competitors and which should you focus on?
- What is their competitive advantage?
- How different is your offer?
- How big are they? Growing or shrinking?
- What is their reputation?
- Who are their customers?
- How do they promote themselves?
Most of this information is available when you start digging, but so often you simply don’t have the time to carry this out.
Think about it and give Tom Hensman a call to discuss.