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Five Top Tips for Successfully Profiling Your Competitors

by Julia Cupman  |  
August 31, 2015
  |  4,829 views

Last year, my company carried out a survey of large North American businesses (a mean revenue of $6 billion) to see what they perceived to be the biggest marketing challenges for 2015 and what marketing strategies they are using.

This finding jumped out at us: Only 27% of US B2B firms carry out competitor research, even though almost half of them cite "countering the competition" as one of their top five business challenges.

It's true that many businesses can recall the names of their major competitors and perhaps even tell an anecdote or two about them. Others keep files of rivals' brochures and press cuttings, and a minority produce dossiers on the competition that are regularly updated, containing marketing implications and recommendations for action.

However, that information barely touches the surface, and it doesn't provide the necessary insight on competitors that can appropriately inform business strategy.

If US B2B firms want to successfully counter the competition, a more in-depth analysis of the marketplace is required.


Competitor research is essential

Fundamentally, business is about beating the competition; you cannot make judgments around strategies for doing so without understanding the strengths and weaknesses of competitors. Rivals' activity affects everything from product planning to pricing strategies and even acquisition policy.

For example, determining a firm's product range necessitates that the marketer have a detailed knowledge of all competitor products—and prices—in order to make comparisons and determine options for diversification.


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Julia Cupman is vice-president at global business-to-business market research agency B2B International, which serves a wide range of sectors, from traditional heavy industry to financial and business services. Reach her via +1-914-761-1909 or email: newyork@b2binternational.com.

LinkedIn: Julia Cupman

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  • by MaxDoess Sun Sep 27, 2015 via web

    Thanks for the important advice, Julia!
    I can’t believe that I’m the first who is leaving a comment under such a cool post. Concerning competitor’s website I totally agree. Sometimes we can find there way more than expect. And even if it’s maybe not honest to use such an info. but who force them to keep it open.
    Thanks!

  • by Ragavi Roy Mon Oct 12, 2015 via web

    Proper research and analysis is essential for good forecast. Like the points made by you interesting and informative. Good share

    Ragavi from Bizbilla

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