information in your CRM.

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Where to find information for your analysis
Where can you find information for your competitor and market analysis?

Some information is readily available online. You can, of course, find basic information on your competitors’ websites. Third-party industry analyses and reports are a great source of more impartial details about companies and the market in general. For publicly traded companies, you can also find financial information and reports online.

Another valuable source of competitor information is your sales reps. They have likely talked with leads about competitors and have insights into what your leads think about competitors and how they compare to your business.

If you don’t have a process set up to collect information about which competitors leads are considering, it’s helpful to start tracking that

In addition to sales reps, support specialists and other list of phone numbers in malaysia

client-facing team members likely have insight into how customers think about your competitors. Additionally, you can interview certain customers who considered or moved over from a competitor.

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What to include in your competitive analysis
How do you conduct competitor and market analysis to help with creating your sales strategy? Here are some steps to follow.

Determine who your competitors are
The first thing you’ll need to do is come up with a list of your competitors. You likely know who your main competitors are, but you can create a more complete list by searching online and gathering information from your sales reps about which companies your leads mention.

There are several types of competitors to consider:

Direct competitors: Your direct competitors meet the same need as you and target the same market. These are the companies you hear about most often from your leads.
Indirect competitors: Your indirect competitors will have some overlap with your company in what they offer and who they target, but they won’t match your company’s offers and targets exactly. For example, fast food chains and more standard restaurants meet similar needs but differ somewhat in their offers.