Five Steps to Analyse Your Market Place

1.         Google search

Google search your industry, your known competitors and related industry participants and print all relevant content that you can find to build a collection of your industry competitors.  Now analyze it.

2.         Mystery shop

Get someone that you trust to mystery shop your competitors checking:
(a)        customer connection;
(b)        needs identification;
(c)        solution development;
(d)        pricing, terms and conditions;
(e)        closing the sale;
(f)        ongoing relationship definition.

3.         Direct analysis and comparison

Review the above mystery shop items to identify what your competitors are doing in regards to service, product offering and client retention ability. Compare to your own service proposition.  Have you ever had someone mystery shop your business?

4.         External assessor

Use an external party to complete a service assessment on your business.  Having someone who knows about how far industry service propositions have developed and assess your business against this criteria will give you a great idea on how to move your business closer to your customer.

5.         International benchmarking

It is always important to look at what the leaders in your industry are doing.  Don’t be limited by your geographic boarder in regards to development of your service.  International markets can help you grow your service proposition.

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