What s My Competitor Doing
Below is a MRR and PLR article in category Business -> subcategory Other.
What's My Competitor Doing?
Summary:
Winning every contract is impossible, and when you lose, it often means a competitor wins. By analyzing your competition, you can minimize these losses.
Why Analyze the Competition?
Understanding your competitors helps you identify why they might seem a better fit for potential clients. By learning from your losses, you can improve your strategy.
Evaluate Their Strengths and Weaknesses:
Examine how competitors may surpass you. Do they have more experience or stronger relationships? Identify their strengths and then:
1. Turn their strengths against them. If they're an older, more experienced company, position yourself as innovative and adaptable.
2. Highlight your advantages. Downplay competitor strengths in your proposals and emphasize your unique selling points where they fall short.
Utilize Digital Resources:
Researching competitors is easier than ever with the internet. Check corporate websites, review their marketing strategies, and analyze their advertising efforts. This information is crucial for securing better contracts.
Tools and Feedback:
Use tools like the Learn to Write Proposals Bid Management Toolkit's Competitor Evaluation Matrix to document and assess competitor analysis. Also, seek feedback from previous opportunities. Understanding why you lost can provide insight into the strengths of winning bids and your areas for improvement.
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