How should your business strategy change?

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How to use the insights of a competitive analysis correctly
Once you have all the relevant data, you should create an action plan , because collecting the data is only the beginning of a successful competitive analysis. To ensure that all the effort is really worthwhile and you can use your new findings to your advantage, the action plan is created. You compare your own weaknesses with those of your competitors and look for the reasons why your competitors are doing particularly well in a certain area. Once you have found this out, you can develop your own strategies and ideas on how this could work for you too.

Consider the following points regarding your business:

What should change in the future in the areas of marketing, sales or products/services?
What materials, campaigns and processes should be updated to
give you a competitive advantage?
Should internal modifications be made to australia whatsapp data allow you to develop further as a company?
Do you need to change something about the way you communicate with your customers? Are you targeting the right customers?
In addition, you should consider individual approaches within your plan that will help you improve your company's current position in the long term. We recommend that you set a goal that you want to achieve within a certain period of time. In addition, you then set another goal each month. You can then consider what measures are necessary to achieve this. Over time, you will be able to improve your strategy even further as you learn from your successes and setbacks.



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You should document your action plan in another tab and list each planned step.


Measure your progress
In order for you as a company to really develop over the long term and to be able to use the regular results of competitive analyses efficiently, it is important that you keep an eye on your progress from time to time. The best way to do this is to take stock after a period of three months . Take another look at the plan you created previously and check how effective it is. You should also document your findings in writing.

Also compare your current key figures with the results of your first evaluation. You should also analyze your strongest competitors again to find out where they currently stand and how much they have improved compared to you. When doing so, answer the following questions.