Competitor Research Techniques

In this segment we’re going to share two different research methods for learning about your competitors.

The first is a simple competitor review [13]. With the help of your client, identify as many competitors and replacements as you can find. Then review their websites, sales pages and other marketing materials. If you can, you should try their products too. Get on their email lists. You’ll want to make a note of their headlines, hooks, benefits, and promises. What stands out? What language, promises, benefits do competitors focus on?

You are not looking for ideas to use… rather, you’re looking at what competitors are doing so you can find different headlines and hooks, better marketing ideas and insights. But you can’t be different or better if you don’t know what competitors are doing. Where are the gaps? What’s missing? Record all of this in your competitive research doc.

Second, is Non-Competitive Borrowing [14]. Look at replacements and do the same thing you just did with the competitor review. How do they talk about their promises and outcomes? Do any replacements have promises or benefits that direct competitors have ignored? Can you use them?

Because these replacements aren’t direct competitors, you may be able to borrow some of the ideas you find here, but you don’t want to use the same exact words. Again make a note of headlines, ideas, and insights.