All contractors should consider doing an annual report on their competitors. Completing a competitor analysis report will reveal possible course corrections for your marketing strategy. Rivalry Drives PriceIf you were the only plumbing and drain cleaning company in a 100-mile radius, you could get away with charging top dollar (on the high end of what your market could bear) and have exponential growth. You would have so much purchasing power from suppliers that you could demand lower pricing, in-stock minimums, and manufacturers be held accountable for failing products. You would get it because you would be the sole buyer.
But competition changes all
Gain an Edge By Regularly Conducting a Competitor Analysis
Even if your work is superior to a competitor’s, consumers will view you as equals if you don’t put effort into differentiating yourself with your branding. Be sure you’re putting some time into studying the competition, so that you know where you can stand out.
Dec 07, 2020 | by Anthony Pacilla |
