Why Doing A Competitive Analysis Is The Best Way To Be Successful

Alexi Leimbach

Why Doing A Competitive Analysis Is The Best Way To Be SuccessfulHave you ever watched a performance of yours and had that overwhelming flush of heat on your face from embarrassment because you thought you did way better than you actually did? I can confidently say that I have had more than my fair share of those moments.

Like the time I went to Treasure Island for a birthday party and made a music video of Destiny's Child "Jumpin' Jumpin'." I was only 10-years-old mind you. I thought I crushed it. I thought I was the fourth "child" of "destiny" on the rise.

But then I watched the video. I was horrified. It was so bad, it became tradition for the next decade to watch the video with my friends every time they came over. We would grab some popcorn and soda, pop in the VCR and all have a really good laugh.

To this day, we pull out some of my famous dance moves from the video on the dance floor at wedding receptions.

Now, if I was actually serious in wanting to become a professional dancer and singer (I decided to spare the world), I would be watching and studying that tape, taking notes and developing a game plan to be the best "child" of "Destiny" there ever was.

Sorry Beyonce.

Another example that some might relate to more is football.

In football, coaches and players watch and study all of the game tapes. They analyze their performance and the performance of their upcoming competitor. They assess what needs to be addressed, improved upon, and what strategy to use to target their competitor's weaknesses in order to hold their own against the competition's strengths.

The same concept applies in business as well.

You need to watch your game tapes (or in some cases, dance tapes). You need to analyze your competitors and prepare a strategy to win against them. Because if you don't think your hardest competition is doing the same thing, then they wouldn't be your hardest competition, would they?

So naturally, we have provided an Infographic that goes into exactly why you need to have a competitive analysis done for you at least once a year.

If you don't know how, or you don't have the time and resources, then lets talk. We can help.

 
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Alexi Leimbach

Written by Alexi Leimbach

Alexi Leimbach is currently the Director of Inbound Marketing at Xcellimark. She is also a US Navy Veteran that served as a Civil Engineer Corps (CEC) Officer. While in the Navy, Alexi served as a Naval Construction Manager, Staff Manager in the Headquarters of Naval Facilities Engineering Command Southwest (NAVFAC SW), Command Fitness Leader for NAVFAC SW, Marketing Chairman of the U.S. Navy Women’s Leadership Network, Battalion Commander at Officer Candidate School (OCS), a member of the American Society of Civil Engineers, and Engineers Without Borders. Prior to the Navy, Alexi earned her Civil Engineering Degree at the University of Florida and received her Engineer in Training (EIT) certification after passing the Civil Engineering Fundamentals Exam. Currently, Alexi is a Coach for The Engineering Management Accelerator, an intensive 5-week online workshop created by Anthony Fasano, PE, Founder of The Engineering Career Coach. The program specializes in training engineers to efficiently transition into skilled, productive, and competent managers at their firm. Alexi is also a trainer for The Engineering Management Institute, created and led by Anthony Fasano, PE. Together, they host a full day of live workshops held in various cities to train engineers in effective management. Alexi is also a featured contributor on Forbes.com and is published in multiple Forbes articles. Additionally, Alexi is an expert on the expert panel of the Forbes Councils and is a member of the Forbes Communications Council.

Topics: Inbound Marketing, Online Marketing Metrics

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