How did you go about researching competitors?

[SafaaMassage]

I just wondered how everyone went about researching competitiors. The sticking point Ive come across is that a lot of my competitors dont publish the price for their services on their websites.

 

[sam09]

Hello

If they don't publish prices what you can always do is give them a phone asking about their services, how much they charge and any other details a customer would ask. As on the phone they will not recognise you as a competitor. Same as if you were to go into any premisis, how do they know you are a competitor not a customer.

Also if you go and visit your biggest competitors you can see why they are at the top e.g. is it the setting, the service itself that is outstanding, the atmosphere, any special offers etc...

Sam

 

[Mike Lewis]

I agree with Sam, but would add that their prices isn't necessarily the most important thing you need to research -- especially if your business is one that offers a professional or personal service.

What's more important is how well they respond to enquiries. That's something else you can judge if you do as Sam suggests and pose as a potential customer.

Also, the fact that they don't publish their prices is itself a competitive factor. If you are selling a commodity, you need to be as open and informative as possible about your prices. But if your business is project-based, in which each job requires an individual quote, then publishing a price list might not be so appropriate.

These are all points which you should take into account when comparing the competition with your own business.

Mike

 

[Gordon N]

I agree completely with both Sam and Mike, especially the comments on comparing prices. Whilst it is nice to know what the opposition are charging as part of a kind of local market picture, never set your prices based on what they are charging. (I speak from experience!)

The best bet with working out pricing for yourself in my opinion is to look at your industry in general on a more nationwide level. You can then then establish where you see yourself sitting within your industry and you have a better idea of what you should be charging. With any luck it will be slightly more than the competition, as believe it or not that can bring more business than being cheaper!

 

[Gouldie0]

Hi,

Like the others above, I would tend to engage with each company as if I were a customer. The main benefits of this are that you can use your experience to probe them on particular things, for example price and service being the main ones.

My advice would be; look at their prices and try to work out if there suitable, do they give the customer value for money? The last thing you want to do is undercut your competitors and end up in a price war ! This also gives you a selling point, you offer X service for Y price and you give your reasons for it.

Give it a try and just collate as much information as you can. Even setup a hotmail account and they'll email it all through to you.

Good luck

Neil