Marketing: The benefits of competitor analysis · Auctioneer Skool: 101 to Pro

Jonathan Collins

Feb 18 (edited) • General discussion

Marketing: The benefits of competitor analysis

I'll start by saying I am not a marketing expert so feel free to critique, add, or denounce any of what I say here.

A Basic Competitor Analysis:

Who is my competition?
What is my competitions niche? (what they do well or don't)
What is their geographic focus? (How far they travel for their customers)

Understanding this can help in several ways:

It can help identify the geographical size of your local market
It can help identify a lack of market coverage or area of need in the market.
It can help identify who potential customers are.

Why this matters:

This can help us move from a shotgun type approach to a more targeted marketing. Instead of just getting our name out there, we can get it in front of the right people. This in turn helps our marketing dollars be more effective and reduce our customer acquisition cost (CAC)

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