Marketplace Analysis: the end-result that drives increased success

[Find more education pieces like this under Marketplace Analysis.]

Reading time: 5 minutes.

When you improve your marketplace competitiveness, you separate yourself from ‘options’ that your customers, whether consumers or businesses, and improves your probability to being chosen. That choice equals more clients, more revenue, adding more capabilities, and is a track-record proven way to add services.

This marketplace analysis consists of four detailed tasks:  research is the core, analyze the data, to support your ‘separation’ strategy and execution to improve.

Architect Marketing Solutions has completed these marketplace analyses and it covers four key marketplace categories:  know your Audience, Competition, Media and Communications.  The end-result is a more competitive you.

Audience analysis:

your brand is what other people say

  • Whether your customer is a consumer (B2C) or commercial buyer (B2B) companies need to understand that these customers are searching for answers to solve a problem. And the first step to solving a problem is to recognize that one exists.  You need to know what that problem is, so that you can solve it.
  • Companies need to understand the WHY the customer makes that decision, whether a simple kitchen improvement, or a 400,000 sq ft addition. Understanding the importance of what the emotion trigger is will greatly improve your ability to convert their interest into a contact.
  • Companies need to understand that customers search for options before they make their decision. And whether it is a consumer project or a commercial one, perception is reality and for you to be chosen, companies need to understand that decision-making process is their perception of reality.  If they can’t find you, you don’t exist.

Competition analysis:

The core understanding is that research will help you to understand why customers choose a competitor, and not you.  If you do not know your competitors Brand Voice and Brand Story, then how are you going to separate yourself with a Voice and Story that makes you the obvious choice?

  • ‘Cutting the pie’ depends upon one thing: you need to know who makes up the pie.  No matter how good you are, and the skills that you have, you need to know what you are up against in the customers’ decision-making process.  That takes research.  Research that your customers are completing to know the market options.  Do you?
  • If you consider a local geographic area competitor to be your main competitor, the internet allows consumers and businesses to expand the option-list of who to contact. Your central goal is to be on that list.

Media analysis: 

  • A full media research analysis needs to cover both online and offline. Online allows consumers and businesses to expand their geographic reach.  Offline improves your reach, frequency and overlap that can make the difference.
  • Since it is estimated that 65% of all B2B purchase decisions are made prior to the first contact, your media objective is to make sure that you can reach them. You need to know what they look at, for how long, what they value, and you need to be in this ‘sandbox’ to ensure you are on the short list.
  • Your Voice and Story needs to be heard on multiple channels as one customer can depend upon one channel and the next doesn’t know about that channel but considers another to be key. You need to know both channels.

Communications analysis:

  • Websites are the cornerstone foundation, and the hub, where all of your online and offline messages direct customers to search for, and learn about you.
  • Your Brand Voice and Brand Story needs to use the customers’ terminology, rationale, and ‘speak‘ in order to motivate them to believe that you know their needs. That, is your Story.  You know them.
  • Whether from social media platforms, Account Based Marketing messaging, or your website, you will not be ‘in the game’ if you can’t motivate the contact with ….their Story.

Why can Architect Marketing Solutions create your Brand Voice and Story to improve your marketplace competitiveness:

Architect Marketing Solutions understands over 30+ research sources, and with over 60 years of business experience in determining research and its affects, we have provided analysis, repair, and launch strategies that have improved a company’s marketplace position.

No company can be an expert at all facets of business.  You concentrate on being the best architect, and outsource your research, analysis and execution partner to support you.

Architect Marketing Solutions we will be your outsource partner.  Contact us with a call at 331-303-0959, or at info@architectmarketingsolutions.com to learn how we can help you to be more successful in 2019.

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