When was the last time you ran a competitive analysis for your brand?
Whether your focus group is there to give feedback on a product or service or help you assess how your brand stands out in your competitive landscape, thought-provoking, open-ended questions are essential to a productive discussion.
In college, I interned at a MarTech company that sold email marketing optimization software. With their software, brands could finally gain visibility into their email program’s deliverability rate or inbox placement, which most email service providers, like Constant Contact or MailChimp, can’t do.
In an ideal world, you’d know just how your product or business idea would be perceived before it’s released. This knowledge could help you make alterations to what you’re offering for the best possible reception, and better inform your sales projections and marketing strategy.
Today, consumers have a lot of power — they can research your product or service and make purchase decisions entirely on their own. And rather than talking to one of your sales reps, they’re more likely to ask for referrals from members of their networks or read online reviews.
A SWOT analysis is a useful technique to evaluate a new project or objective your business faces, or your business as a whole.