Know Your Competition

November 23, 2018

Take a stroll through the aisles and look where your products are placed on the shelf and where the next closest competitor's products are placed.  Take a picture and review with your top management during your next Sales and Marketing meeting so that you can analyze how to be even better. 

 

Top Performers

Top performing companies know all their competitors and where they stand.  Always creative and always looking for a way to be and stay at the top.  

 

Measure your success

Consider subscribing to information databases that report on sales by geography, channel, time so that you have the data to measure the success of tactics that keep your brand in the eyes, minds, and shopping cart of your customers.

 

How does your brand stand out?

Occasionally do a brand visibility audit and ask these questions, especially with a comparison to your competitors:

  1. Packaging - how does your product look on the shelf next to your competition

  2. Ingredients - do you emphasize important ingredients on the front of your products

  3. Color - do you use colors that remind the consumer about your brand

  4. Font - are the words easy to read.

  5. Brand Name - is your brand name prominent and viewable from at least 3 feet away

  6. Contact - do you make it easy for the consumer to engage with your company

Competing for Market Share

When you focus on market share, you are evaluating your company's position in sales.  Your company will stand out and grow at a faster rate when competition is easily and earnestly discussed and your sales and marketing tactics are measured.

 

Let's talk about the tools and techniques that you can use today to keep your company in the top performer position. 

 

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