You're crafting your product marketing plan. How do you decide which competitor tactics to follow or counter?
To craft an effective product marketing plan, understanding which competitor tactics to emulate or counter is crucial. Here's a quick guide to help you make informed decisions:
What strategies do you use to analyze competitor tactics? Share your thoughts.
You're crafting your product marketing plan. How do you decide which competitor tactics to follow or counter?
To craft an effective product marketing plan, understanding which competitor tactics to emulate or counter is crucial. Here's a quick guide to help you make informed decisions:
What strategies do you use to analyze competitor tactics? Share your thoughts.
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The Riches are in the Niches, figure out your niche market. Stop following the followers my mentor and coach use to say! Create don’t Compete, two often products get launched with out figuring out the market from the clients they want sell and discovering the pain points so you can create value to solve and create a package different than anyone else! Keep it simple!
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Competitor tactics are evaluated by identifying leverage points and mapping them to critical stages of the customer journey. This approach focuses on uncovering gaps or weaknesses in the buying process where the unique value proposition can deliver maximum impact. Strategies are aligned to address customer pain points at key touchpoints, ensuring differentiation and enhancing the overall buying experience, with ongoing refinements based on market insights.
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I've spent years in product marketing, and here's the golden rule: Your competitors don't define your strategy - your customers do. Quick framework I use: Let competitors' moves INFORM but never DICTATE your strategy. Focus on these power plays: Deep-dive your customer feedback first. Their pain points > competitor tactics 1. When competitors launch something new, wait 2 weeks. Watch customer reactions, don't jump instantly 2. Counter only what matters to YOUR customers (ignore the rest!) Create a "competitor move threshold" - only react to tactics that impact >20% of your target market. Everything else is just noise. Being different > being better. Own your lane!
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Methodically analyse your competitors strategies, simultaneously understand your own unique strengths. For this you can : -Perform a competitive analysis: list competitors, study their marketing channels, messaging, pricing, engagement and promotional models. -Determine your product USP- What value your product brings to the customers better than your competitors. -Select tactics to follow : careful pick competitor tactics that align with your business objectives, follow those and tailor it to your USP -Create a feedback loop :Taking audience feedback and tracking your performance data will be imperative. -A/B test : consider bunch of strategies and do an A/B testing to carefully understand what works best for you and your customers .
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It's all about analyzing what your competitors are doing right and where gaps exist. You want to follow their successful strategies and find opportunities to differentiate yourself. Sometimes, countering a competitor's tactic is the best way to carve out a unique position. What strategies have worked for you so far?
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To craft an effective product marketing plan, analyze key competitors with similar audiences and offerings. Use competitive analysis tools to assess their strengths and weaknesses, then leverage your unique value proposition (UVP) to differentiate your product. By focusing on data-driven insights, you can make informed decisions on which tactics to follow or counter.
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Of course you must know your competitors. It is as much about understanding what they get wrong as much as it is about what they get right. It is also about understanding how to communicate your discriminators which you cannot truly do unless you have identified them through competitive analysis. Often the takeaways can be non-intuitive. Sometimes your competitors are more successful even though you have a stronger product/service/value proposition, and your job is to work out why if you want to address it properly. All too often it is not just a case of what you do or how you do it, but how you communicate that to your customers, investors and staff.
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Adopting competitor tactics, even the successful ones, is not the way to go. When you focus on your competitor, you are taking your eye off the ball for your own product and strategy. Instead, your value proposition, white space, and differentiation is what you should focus on. If a competitor is trying to encroach in your space, shape your product marketing to eliminate and minimize their impact and then double down on your messaging and proof points; and focus on your customers. Customers are more in control in how products are perceived than ever before. Focus on them. Make them happy, understand why they value your product, and get more like them. YOUR plan should consist of understanding your product, opportunities, and tactics.
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you should have a unique position for the future state that you are building… this is based on your org’s vision, not your competitors. when it comes to execution, it’s less a case of doing “different channels and tactics” compared to the competition… it’s about doing things better and in a way that resonantes with your audience. if you want outsized results you can’t look and sound like all of the people you are trying to beat.
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