The easiest way for you to claim the title of “800 pound gorilla” in your niche is to obliterate your competitors…
The best way to do that is to understand exactly how your competitors are communicating with prospects… so you can deliver superior marketing.
That’s why today I want to give you the first part of my 11-Point Competitor Analysis.
You’ll identify two things with this analysis:
1. What your competitors are doing… so you know what NOT to do!
What positioning statements, claims, benefits, and mechanisms are they using so you don’t make the mistake of copying them?
Remember, you need to present your prospects with a totally unique angle, hook, and promise they’ve never seen before.
For that, you need to exactly what your competitors are saying.
2. The marketing gaps in your niche.
You need to see where your competitors are missing the mark…
What are they not offering to prospects, so you can come along and fill that gap with your marketing?
You want to use this analysis with the top five to seven direct-response competitors (in terms of popularity) in your marketplace.
Remember, I’m not only talking about the individuals that market the same type of product or service that you do…
I’m talking about anybody or anything that your prospects could see as a potential alternative to your product or service.
For example:
A massage therapist marketing their services for the alleviation of low back pain could have many competitors, such as…
Chiropractors, physical therapists, over-the-counter painkillers, over-the-counter creams, surgery, home inversion tables and so on.
Those are ALL competitors because remember, prospects aren’t looking for products or services…
Prospects are looking for a RESULT!
Ok, here are the 11 points you use to analyze your competitors.
1. Their Hook
What hook or the angle is your competitor using to get the market’s attention?
What’s the hook, angle, or idea do they use in their headline?
2. Their Primary Marketing Promise
What is the main promise that they are making to prospects about their product or service?
Does it have to do with speed, efficiency, ease, or better results?
You can usually identify the primary marketing promise in the headline.
If not, look for the primary benefit statement that each competitor is making in the first few paragraphs of their marketing funnel copy.
3. Their Unique Mechanism
The unique mechanism (or delivery mechanism) is the component or aspect of your competitor’s product or service that is responsible for delivering on the promise.
Examples:
If they’re selling a fat burning supplement, are they focusing on a particular nutrient or a particular herb in their proprietary formula?
If they’re selling a software, is there a particular feature of the software that like a special algorithm that they are focusing on?
You’re looking for the main component of their product or service they say is responsible for delivering and fulfilling on the promise.
4. Their Unique Selling Proposition
A unique selling proposition (or USP) is simply a unique benefit your competitor says only they can deliver..
What you’re looking for here is what they’re claiming (if at all) is a unique benefit you can only get from them.
Are they claiming that it works quickly?
Is it easy to use?
Do they claim it’s efficient, or less expensive?
Now, some of your competitors might make five, six, or seven claims. That’s okay. Record all of them in your analysis.
6. Their Proof Points
What proof are they offering to support their claims?
Are there testimonials or case studies?
Are they showing statistics and endorsements?
Ok, that’s enough for today. I don’t want to overload you with homework.
For now, get to work on your competitor analysis with these six points…
Keep an eye on your inbox for part 2 and the remaining five points of your competitor analysis…
Including one of the biggest conversion drivers for ANY marketing funnel! Master it, and decimate your competition.
Until then,
-Todd