Week 3 – Compare to Your Competition

Well-written copy is undeniably important for a successful print marketing campaign and it is an investment for any savvy entrepreneur. As with any new investment, you need to do your research before embarking upon a new campaign, in order to avoid as many mistakes, and that starts with identifying your competition.
It is a good idea to evaluate a competition’s print marketing strategy before developing your own. While you should not copy your competition (as you maybe copying methods that do not work), you can gain an understanding of what your customers see and get out of printed materials.
Here’s how to use your competitor’s print marketing to get ahead:
Make a list of your competitors
This may seem like an obvious starting point, but listing who your competitors are will help you differentiate who your audience is and target the market from whom you are crafting your message. Break your competitors down to direct and indirect competitors. Direct competition is any company that offers the same products and services to the exact same market you do. Indirect competition is any company that offers the same products and services to a different market than you do. Think of McDonald’s as an example. Burger King and McDonald’s are direct competitors because they are both fast food restaurants, but Whole Foods is an indirect competitor of McDonald’s, because it sells meals for purchase and grocery items that you can take home a create your own hamburgers and fries.
Join the group
Find a way to get on as many mailing lists of your competitors. This will help you judge benchmarks such as how your competitors are delivering their message and how memorable their copywriting is. Register for their newsletter, seasonal catalog and any other pieces they may distribute. If your company address is too obvious, use your home address when you register for their materials.
Use their weakness to create your uniqueness
Design an analysis sheet with the main points of comparison between you and each competitor. What are the strengths and weaknesses of all print collateral? Are they conveying messages that are engaging to their audience? Are they delivering the message as efficiently and quickly as possible and following up? If not, be sure that you can provide that product or service to your audience and capitalize on the missed opprtunity.
What other ways will you measure your competition print marketing? Share your comments with us below!