4 – Learn from your competitors

competitive research

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In this Tradie Success podcast, you will discover how to identify your competitors and undertake competitive research so you can differentiate your business and identify new opportunities.

We will examine how to analyse their strengths and weaknesses in order to discover gaps in the marketplace and new opportunities for your business. Finally, we will discuss a few effective strategies you can use when responding to threats.

0:55 Why you need to put yourself in the mindset of your customers.
1:33 Creating an impression that will encourage customers to choose you over a competitor.
2:13 The importance of taking a step back and researching your competitors.
2:48 Identifying competitors online.
5:50 Identifying competitors offline.
6:06 Analysing competitors using a SWOT analysis.
7:10 How to get your free SWOT analysis template.
7:25 Find out what strength and weaknesses are with clear, applicable examples.
8:52 Discovering opportunities and gaps in the market place.
9:25 How to turn a competitors weakness into your opportunity.
12:24 How to identify threats to your business
13:00 Strategies you can use when responding to threats.
15:22 How to deal with external threats.
17:05 Summary: identify your competitors to determine gaps in the marketplace and opportunities to grow your business. These insights can show you where to direct your marketing.

Photo credit: Normand Desjardins

TWEETABLES

Know your competitors better than they know themselves. Share on X

Build a story about your business so that you stand out from your competitors. Share on X

The more you know, the better you will be at spotting opportunities. Share on X

RESOURCES

 Download your free SWOT Analysis

LIKE TO KNOW MORE?

In Module 1 of our online marketing training program Tradie Marketing Secrets we delve into competitor research in more detail and provide links to some cool online software you can use to find out lots more about your competitors' online activities.

If you have any comments or questions about this episode, we’d love to hear from you – simply enter them in the comments area below this episode.

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About Annette

Hi there. My purpose in life is to help trade business owners to grow a successful business. The purpose of this podcast is to share interviews with business experts that we believe do know what they're talking about, to help our listeners grow their business and achieve more than they ever thought possible. So who am I to want to give help to trade business owners about business? Good question! I’m married to a tradie, addicted to marketing and fascinated by what makes a successful business, well successful. Marketing is certainly on top of the list, but there are other areas of the business to get right - which is why this Tradie Success episodes delve into all areas of running and growing a trade business. In terms of my experience - I have marketing quals, 30+ years marketing experience, and have helped hundreds of small businesses (a lot of them tradies) achieve better results through their marketing.