Businesses need to relentlessly optimize their strategies in order to stay relevant in the current climate. They can’t become complacent as their competitors are constantly improvising their own tactics to gain a market advantage. RNPL is well-known for its competitive benchmarking services across the world. We deliver insights to measure your brand against competitors, which can help you bring the required changes to your business model to ensure sustainability and success.
We dig deep into the competitor data to examine their strategies, growth-driving factors, website traffic, conversion rates, and your position in relation to your competitors.
Competitive analysis helps our clients evaluate and hone their short-term and long-term business goals and Go to Market Strategies by adopting cost focus strategy, differentiation focus strategy or niche focus strategy.
We simplify the process of competitive benchmarking and analysis by offering multiple tools and metrics which can help you compare and contrast your company with that of your competitors. We deploy techniques such as market share analysis, cross-company comparison, strength and weakness analysis, and company profiling, to ease the benchmarking process.
Our competitor analysis includes the study of business strategies, financials, product portfolio, pricing strategies, market share, operating margins, regional presence, client base, recent developments, and future plans of competitors. It helps clients learn the best practices in their business and anticipate competitors’ actions to stay one step ahead.
Competitor analysis is especially important for contemplating any new business development.
Cross-Competitor Analysis
We conduct strategic mapping and in-depth analysis to understand industry paradigm shifts. Using analytical frameworks such as demand analysis, life cycle analysis, and portfolio analysis we can help you evaluate your competitors, their customers, and partners.
Value Chain Analysis
We analyze your competitors right from the procurement of raw materials to their customer attraction capabilities. With our value chain analysis, we figure out how your competitors design, manufacture, market, sell, deliver, and install their products. And understand how they provide customer service and how happy the customers are.
Thorough Research
We conduct closer inspections of unreliable market forecasts, overvalued assets and income, and losses and liabilities.
Pricing and Marketing Strategies
Businesses can attract more customers by optimizing their pricing and marketing strategies using competitor products and pricing data. This can significantly increase sales and boost revenue.
Why conduct benchmarking?
Without any form of benchmarking there is a probability of getting overtaken by competitors. It can also result in complacency, taking customers for granted, and generally becoming more reactive than proactive.
Only by understanding the competitors’ strengths and weaknesses, can clients focus on their differentiating abilities and leverage them to succeed. In fact, benchmarking should be an ongoing process and not just a part of annual business planning or before starting a new venture. Every day presents new opportunities to learn from your competitors and improve your business acumen.
Benchmarking plays a pivotal role in ascertaining a company’s performance and gaining a complete understanding of the market scenario. Other benefits include-
- Understanding the Competitive Market
- Better Targeting of Customers
- Forecasting Market Potential
- Customer Acquisition
- Gaining Market Share
- Leading to New Ideas
- Insights into Potential Opportunities
- Staying Ahead of the Competition
Who to benchmark against?
Clients can analyze their business with respect to-
- Strong competitors, from whom they can learn and get better.
- Competitors with weaknesses, whom they may be able to take advantage of.
- New market entrants, who might bring a fresh perspective to the table.
What we do to measure your brand against competitors
Our competitive analysis and benchmarking approach involves qualitative and quantitative research methodologies such as -
- Competitor Key Findings
- Brand Monitoring
- Domain-to-Domain Comparison
- Page-to-Page Analysis
- Content Analysis
- Organic Traffic Insights
- Keyword Gap
- Paid Traffic Insights
- Organic Keywords Insights
- Paid Keywords Insights
- Organic Position Distribution
- Backlinking Statistics
- Social Media Presence
