Tom Herman
"Do You Do Analysis Work On A Competitor?"
"Do you do analysis work on a competitor?"
A founder/CEO asked this during a recent call.
He wanted to understand a competing brand's customers.
I said, โyes, but can I ask, how well do you know your own customers?โ
Not very well, as it turns out.
While analyzing the competition can reveal valuable insights,
๐ฃ๐ฟ๐ถ๐ผ๐ฟ๐ถ๐๐ ๐ผ๐ป๐ฒ must be understanding YOUR customers.
โก๏ธ Who are they?
โก๏ธ What makes them tick? and
โก๏ธ Why do they buy?
If you canโt answer these questions for your own customers,
Hold off on answering them for your competitorโs customers.
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Could a lack of customer understanding be holding your organization back? If so, reach out, we can help.