48% of SME’s in the UK manufacturing sector say that competition in the marketplace is a major obstacle to the success of their own business*.
The first step in overcoming this obstacle is to assess how you stack up against them in terms of what matters to the customer.
I’ve found that when businesses engage in conversations about the competition, they can be quite subjective and emotional. Although this approach may give you the answer you want to hear, it’s not the one you need to help you overcome this obstacle.
When you’re trying to gauge yourself against the competition, it’s important to take a more objective approach, one based on fact. An objective approach that weighs up how you and your competitors perform against your customer’s needs
In my A to Z of Back to Basics Marketing, I explain a simple way of how you can weigh yourself up against your competitors. Whether at company, product, or project level, it’s a great tool to help you assess your current position. Watch the video below to learn more.
To download my Free Competitor Benchmarking Workbook, simply click on the file download below.
*Longitudinal Small Business Survey 2018