How useful is competitive analysis? As Michele Linn points out in her latest post “Five Key Questions Your B2B Competitive Analysis Should Answer” in her Savvy B2B Marketing blog, sometimes competitive analysis can lead to dead-end marketing strategies that are just copying your competition’s moves. A business version of “keeping up with the Jones’s”.
The best competitive strategy is to try to re-invent or re-define your category so that you are the market leader… a lot of great examples of companies that are out there that have done that.
Copying competitors won’t get you there… but competitive analysis can help you determine the best way to really crystallize your target subsegment that has you as the de facto leader…
So, yes, if you are selling software products or services, do invest some time in software marketing research to better understand your competitors. But instead of trying to follow them, use that information to develop strategies that truly differentiate you within your target segment.
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