Competitor Analysis
The principle data gathering technique used by 2Europe in market, competitor analysis and benchmarking projects is original interviewing. Unlike most agencies we do not focus just on out of date secondary data but get straight to the information sources for current competitor thinking and action. Typically less than 20% of our work involves reviewing and analysing publicly available information. The real value for up to date competitor thinking and insight is from 80% of effort based on interviews with target company employees, their sales channels and customers. Consequently, over the last 20 years we have developed our approach and techniques into a core competency.
Competitor analysis tends to focus either on specific target organisations or establishes a general competitive overview in markets or countries.
Our experience in competitive analysis shows the following are the critical success factors in any competitor analysis:
Initial briefing
- Initial client discussions clarify the survey objectives and ensure we receive contributions from the interested company stakeholders. This enables us to provide a total picture of information readily available, both related to sales trends, market and purchasing dynamics and opinions on competitors.
- This meeting sets the bar for expectations.
Targeted secondary information
- Our published and online sources enable us to research information on competitors at a global level. This normally provides information on market values, product lines, services and corporate structures.
- The secondary research ensures the later original data gathering stages do not waste time acquiring details that are readily available.
Persuading targets to provide us with sensitive information
- Original research then takes place to secure current strategic details.
- Persuading targets to part with sensitive information is one of 2Europe’s core competencies.
- Our success in collecting sensitive, difficult-to-obtain information is due to our use of highly trained and experienced qualitative interviewers supported by technical analysts who not only conduct the research, but also support the analysis and development of recommendations.
- By staffing our projects in this way we are able to quickly identify those factors which are critical to our ability to develop practical and realistic recommendations.
Data derivation and accuracy
- On any competitive analysis project we are normally confident we achieve 80% of the required information to an 80% accuracy level.
Maintaining confidentiality
- It is vital to our clients that we maintain strict confidentiality, and that we conduct our research in such a way that we minimise the chance of alerting the market place, customers or competitors as to the nature and purpose of our research.
Experienced analysis and interpretation
The findings are analysed by experienced marketing professionals to provide clear strategic direction.
2Europe does not cost according to the number of interviews that are undertaken in each competitor. Instead, we cost according to the amount of 2Europe resources required to deliver a particular scope of research. We therefore provide costs based on delivering the information for each competitor.
Contact 2Europe today for more information about competitor analysis
