Michele Nieberding ๐Ÿš€

AMA: MetaRouter Director of Product Marketing, Michele Nieberding ๐Ÿš€ on Market Research

June 12 @ 10:00AM PST
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How do you collect, analyze and share your customer feedback?
I feel like my customer feedback is scattered throughout surveys, Google docs, Google sheets, Salesforce, and Slack... It's pretty tough to get an over-arching view of my customer feedback on an on-going basis. Do you use any tools or have advice on how to collect, analyze and share your customer feedback?
Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
Ah, the classic โ€œfeedback scavenger huntโ€! Weโ€™ve all been there, trying to piece together customer insights from a labyrinth of surveys, spreadsheets, and snippets in Slack (though I do believe Slack can be used strategically). Keep in mind, all feedback is good feedback. It's better to have MORE than less! Of course, the goal is to turn that feedback chaos into a streamlined, insightful narrative. Hereโ€™s some best practices I would recommend to collect, analyze, and share customer feedback like a pro: * Have a single source of truth (but seriously). I use Notion right now and organize the materials by use case or pain point. Here, I add links to EVERYTHING that relates to the main category with a couple bullet points on what has been learned. This includes link to Slack messages, Gong calls, Salesforce notes, etc. * If you have a Content Management System like Seismic or Highspot, you can do this as well. Here you can actually see what sales people are engaging with. * Have a goal in mind. What are you hoping to achieve with this feedback? This will help you consolidate the sources into a compelling narrative. * Turn that source of truth into an actionable deck based on what you want to DO with that feedback. * Examples of things you may want to do with this data: * Help prioritize the product roadmap: We heard from x number of customers that want y feature. * Win/Loss: Ideally, you would lose a tool like Clozd, but if you're strapped for budget like I am, you can set up Gong filters to pull examples. * I recommend doing this quarterly, but if not, then bi-annually and sharing across various teams. Don't keep these GOLD insights in a vacuum! * Happy to talk through best practices on how to present this information to various teams (Sales vs. CS vs. Marketing vs. Product, etc.) * When in doubt, validate the feedback with customers. I've seen the best success in doing this with CAB (Customer Advisory Board) meetings. * Get CAB excited to be a part of the journey! I like offering "sneak peeks" of new in-flight product/feature updates. Some other ways to analyze your various sources: * Unified Dashboard: Invest in a dashboard tool like Tableau or Looker. These can pull data from various sources (Google Sheets, Salesforce, etc.) and present it in a coherent, visually appealing manner. This will help you spot trends and outliers at a glance. * Text Analysis: Use text analytics tools like MonkeyLearn or Lexalytics to sift through open-ended responses and social media comments. These tools can categorize feedback, identify common themes, and even detect sentiment. * Customer Segmentation: Segment your customers based on demographics, purchase history, or behavior. This will allow you to see if certain feedback trends are more prevalent in specific customer groups. Tools like Segment or Amplitude can help with this. Sharing the insights: the storytelling phase (and my favorite part) 1. Regular Reports: Create a monthly or quarterly feedback report. Keep it concise and visual โ€“ think infographics and key takeaways rather than lengthy documents. Tools like Canva or Venngage can make your reports visually appealing. Then I like sharing the updates in a #CustomerFeedback Slack channel, but also saving links to all of those Slack updates in Notion so your teams can easily find any and all historical updates. 2. Feedback Meetings: Hold regular meetings with your team to discuss feedback. Use these sessions to brainstorm solutions and share insights. Keep it interactive โ€“ think of it as a mini workshop rather than a dull presentation. 3. Internal Communication Platforms: Use tools like Slack or Microsoft Teams to create dedicated channels for customer feedback. Share highlights, trends, and urgent issues in real-time. Pin important messages and use threads to keep discussions organized. Pro Tips: 1. Social Engagement is a Goldmine: Sometimes, all it takes is a quick scroll through the community discussions to find the exact insight I need. Or asking a question in a Community Slack channel. 2. Transparency is Key: Let your customers know how their feedback is being utilized to improve the product and enhance their experience. This builds trust and demonstrates your commitment to customer satisfaction. 3. Automation is your friend: Consider automation tools like Zapier or Integromat to create workflows that automatically pull data from your various feedback sources into your dashboard. This way, youโ€™re not manually updating spreadsheets or chasing down data. 4. Make Customer Friends: Want more credibility when sharing POVs based on customer feedback? This is the key. Identify a list of customers, engage with their products/content, build a relationship by writing a fan letter and requesting a brief meeting, gather insights and feedback during the conversation, offer helpful feedback or assistance, maintain ongoing communication, and leverage these relationships for credible, informed input on product or GTM decisions. 5. Foster a culture where feedback is valued and acted upon. Celebrate wins from positive feedback and view criticisms as opportunities to improve. When your team sees feedback as a treasure trove of insights rather than a chore, youโ€™ll find that gathering and using customer feedback becomes a natural part of your workflow. So there you have it โ€“ from scattered feedback to actionable insights, all while keeping it fun and engaging. Now go forth, gather those golden nuggets of customer wisdom, and let them guide your product marketing brilliance! ๐Ÿš€
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Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
I hate to say it, but it depends. Techniques like scoring each question based on its potential impact and feasibility can help you allocate research resources effectively. Here are some ways I like to think about prioritization: * High-Impact Areas: Prioritize questions that address high-impact areas โ€“ those that directly influence key performance indicators (KPIs) like customer satisfaction, conversion rates, and market share. For example, understanding "What are the primary reasons customers choose our product over competitors?" can directly inform both marketing strategies and product development. * Pain Points and Friction: Identify questions that uncover pain points and friction in the customer journey. These insights are invaluable for improving product adoption, customer experience, and satisfaction. Asking "What challenges do you face when using our product?" helps pinpoint areas for enhancement that can lead to significant customer loyalty and retention gains. I like using Miro to outline where/why these friction points are happening in a more visual way to share with other stakeholders such as product. * Always ask about pricing and competition! See my other responses for ideas on what specific questions to ask. * nalyze your competition to identify gaps in your understanding of the market. Questions focused on competitive positioning, such as "What are our competitors' strengths and weaknesses from a customer perspective?" can provide insights that differentiate your brand and product offerings. * Some research options for pricing questionnaire: * Hotjar | Contentsquare: If your website or product gets enough traffic, integrate in-product surveys with 1-2 key questions about pricing. * Conjointly: Ideal for in-depth pricing surveys with targeted audiences. While on the expensive side, they are highly recommended for comprehensive pricing research. * Lyssna: Great for targeting specific professions like designers, marketers, and content professionals. They offer B2B selection options via external panels but lack specialized pricing methodologies. * Wynter: I've heard good things about them for B2B, but haven't used them personally. For coming up with actual questions, here are some things to consider: * Embrace the "Why." Understanding "what" customers do is valuable, but the "why" behind their actions is gold. Go beyond surface-level questions with techniques like the "Five Whys". * For example, if you learn customers abandon your onboarding process, ask "why" they abandon it. Repeat the "why" question five times to peel back the layers and uncover the root cause. This approach can reveal surprising roadblocks and opportunities for improvement. * Think Beyond the Feature: We've all been there โ€“ crafting surveys loaded with questions about features. But features are just tactical solutions. What you really need to understand are the underlying customer needs and frustrations. * Instead of asking "Would you use a feature that does X?", delve deeper with questions like: "What are your biggest challenges with achieving Y?". This shift in focus unlocks insights into the core problems your product can solve, not just bells and whistles. * Identify Knowledge Gaps: Challenge the assumptions you have about your market and customers. Use research to validate or refute these assumptions. Questions like "What do we assume about our customers that might be incorrect?" can surface critical insights that shift your strategic direction.
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How do you organize/synethize data for creating personas?
I am in the process of developing personas, and the data will come from multiple sources such as reviews, interviews, and internal insight. Do you have a tool, template or best practices for organizing all these data points to make sense of it and then turn it into a persona?
Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
I have a love/hate relationship with personas and their effectiveness/impact in an org. But that's for another day.. Here are my tips and tricks for developing personas that your teams will actually use! Categorize by Source and Theme: Organize your data by source (e.g., customer reviews, interviews, internal feedback) and by themes or topics (e.g., pain points, motivations, behaviors). This categorization helps in identifying patterns and trends across different data sources. Extract Key Insights: Qualitative Analysis: Use qualitative analysis techniques to sift through textual data. Tools like NVivo or Dedoose can help in coding and categorizing qualitative data, making it easier to identify recurring themes and insights. Highlight Direct Quotes: Highlight direct quotes from users that encapsulate key insights. These quotes can add authenticity and depth to your personas, ensuring they reflect real user voices. * Pro tip: Put them all into a centralized location (I have a Google Slides doc I use) for easy access and a single source of truth for teams to reference. The Power of Frameworks: Let's face it, spreadsheets can only take you so far. Consider leveraging a persona development framework to structure your data analysis. . A typical persona template includes sections for demographics, goals, pain points, motivations, behaviors, and a day-in-the-life scenario. Tools like Xtensio or HubSpotโ€™s persona templates can provide a solid starting point. Also, techniques like affinity diagramming can group similar themes from interviews, allowing you to see patterns emerge. TOOLS TO TRY: * Canva has some great persona templates if you are starting from scratch! * Miro and HubSpot( Make My Persona) have tools to build persona profiles * HubSpot guides you through the persona creation process with a series of questions that help you capture all necessary details, and provides pre-built templates that are easy to use and modify. If youโ€™re already using HubSpot, this tool integrates seamlessly with their CRM and other marketing tools. * Xtensio has a persona creator and persona comparison chart, and you can collaborate with team members in real time * I havent tried this one yet, but...apparently Crystal Knows uses AI to analyze LinkedIn profiles to provide insights into potential buyers Embrace the Sticky Note Revolution: Sometimes, the simplest tools are the most effective. Grab a stack of sticky notes and write down key data points โ€“ quotes from interviews, recurring themes in reviews, and internal observations. Plaster them on a wall (metaphorical or physical) and start grouping them. This visual representation allows you to see connections and identify commonalities across data sources, fostering a deeper understanding of your user segments. Tools for the Modern Marketer: There are also excellent persona development tools available online. These tools can help you centralize your data, categorize insights, and even generate persona templates. While not a magic bullet, these tools can streamline the process and ensure you're capturing all the crucial elements for a compelling persona. Triangulation is Your Friend: Don't rely solely on one data source. The magic happens when you triangulate your findings. For example, if a user mentions a specific pain point in an interview, see if it's echoed in online reviews. This cross-referencing validates your findings and paints a more complete picture of your user segments. Internal Validation: Share your personas with cross-functional teams (e.g., product development, sales, customer support) to validate their accuracy and relevance. This feedback loop ensures that your personas are grounded in reality and useful for various stakeholders. Continuous Iteration: Personas are not static. Regularly update them based on new data and feedback. Set a schedule for reviewing and revising your personas to keep them relevant as market conditions and user behaviors evolve. Remember the Human Touch: While data is essential, don't let it drown out the human element. When analyzing data points, remember the people behind them. What are their hopes, dreams, and frustrations? Inject empathy into your persona development process to create a relatable and realistic representation of your target audience. Best Practices for actually building the personas: * Empathy Mapping: Use empathy mapping to dive deeper into your users' minds. This involves mapping out what users think, feel, say, and do to gain a holistic understanding of their experiences. This technique helps in creating more empathetic and user-centric personas. * Prioritize Key Segments: Focus on the most critical user segments that drive your business goals. Creating too many personas can dilute your focus. Aim for 3-5 key personas that capture the most significant user segments. * Storytelling Approach: Craft your personas as narratives. Tell a story that includes their background, challenges, and journey with your product. This storytelling approach makes personas more relatable and memorable for your team. * Pro tip: Use specific customer examples when you can! For example, "We won Customer X because the persona Y needed ____, and we solved for that by _____." LINK IT! * Persona Workshops: Conduct workshops with your team to co-create and refine personas. These collaborative sessions can uncover insights that may not surface in individual analysis, ensuring that the personas resonate across your organization. By following these tips and embracing a data-driven, yet human-centered approach, you can transform your customer insights into personas that truly resonate. Remember, personas are more than just marketing tools โ€“ they're your window into the hearts and minds of your customers.
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Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
Market research shouldn't be about throwing money at surveys or analysts (which can be easy to do!). It's about acquiring strategic insights that inform key decisions. Learn from my mistakes! I've broken them down into some DO's and DONT's: DO's * DO align with a broader (exec level) company goal. This helps you get more budget approved faster, but also helps prove the value of your market research project -- which can be hard in Product Marketing! * DO define clear objectives and outline the scope: Before diving in, clearly define what you want to learn and how the research will benefit your business. * What questions are you trying to answer? Who are your target respondents? The scope directly impacts your budget by determining the research methods (surveys, interviews, focus groups) and sample size needed. * What are your specific questions? Are you trying to understand customer needs, validate product ideas, or gauge market trends? And what are you going to do with that information? Help inform the product roadmap? Help create marketing themes for the year? Help build pillars for all of your products? Help create a new GTM plan? etc. * DO estimate the cost of each element within your scope. This includes: * Sample Size: More participants generally translate to higher costs for recruitment and analysis. * IMO, your sample size should be at least 30. * Research Methods: Online surveys are typically more cost-effective than in-person sessions. * Data Analysis: Factor in the cost of data analysis tools or outsourcing to specialists. * Reporting and Presentation: Consider the resources needed to create compelling reports and presentations. * If you are going to use this for an external webinar and/or research paper/whitepaper/eBook, factor in who will write it and how much that will cost * DO target the right audience: Identify the most relevant group of people to answer your research questions. This could be potential customers, existing customers, industry experts, or even competitors. Getting this wrong can waste a ton of money! * DO choose the right research method: Select a research method that best suits your objectives and target audience such as surveys, interviews, focus groups, customer observation, and competitor analysis. * A lot of this you can actually do for free! * DO be clear with the questions you ask. Know WHY you are asking, and what you plan to do with the responses. If you don't it will likely lead to inaccurate data and poor results - because you don't know what you're looking for, the results are often not useful. Not keying in on the right questions initially to test the hypothesis leads to results that are then bland and general. So make sure you take the question side seriously! If you're looking to gather data or ROI, key in and narrow your question around a metric vs a general "How much time have you saved" sort of question that I see far too often. * DO ask questions about competitors and pricing. * Some questions you can ask related to competitors: * Who do you consider the main competitors to [our product]? * What are the key differences between [our product] and those of our competitors? * What features do you find most valuable in our competitors' products? * What do you think are the strengths and weaknesses of our competitors' products? * What factors influence your decision to choose a competitor's product over ours? * Questions you can ask related to pricing: * What pricing models do you prefer (e.g., subscription, one-time purchase, tiered pricing) when considering our competitors' products? * What do you think about the price points of our competitors' products? * How do you perceive the value for money of our competitors' products? * Would you be willing to pay more for certain features or benefits offered by our competitors? If so, which ones? * What price range do you consider acceptable for products like ours and those of our competitors? * ALWAYS validate your findings. Gotta love a good GUT CHECK! Is that what your internal teams are hearing? You can also check Gong for "pain points" or "challenges" to see what comes up during prospect calls. DONT's * DONT conduct research without a plan: Don't just jump into surveys or interviews without a well-defined research plan. A clear plan ensures you collect the right data to answer your questions. * Also have a plan for how you are going to consolidate and analyze the findings. * DONT ignore negative feedback: Don't shy away from negative feedback. It can be just as valuable as positive feedback in identifying areas for improvement. * DONT generalize from a small sample size: Ensure your sample size is large enough to provide statistically significant results. * DONT let data sit on a shelf: Don't let your research gather dust. Share the findings with key stakeholders and use them to inform product development, marketing strategies, and business decisions. * Pro tip: Share findings throughout the research process. I recommend a Slack channel for #CustomerFeedback for example. * DONT give into confirmation bias. Market research should always be exploratory. And while I recommend always going into a market research project with a hypothesis, you should stay opened minded for what the results might show--not only look at feedback/data that confirms your original hypothesis. * DONT assume you know what your target audience is thinking or feeling. * You know what they say when you "assume..." * DONT overspend on market research. It is easy to throw $50k at market research. Ask your colleagues what is ACTUALLY worth the investment. And because I personally don't have a budget for market research right now, here are some free options to consider: * CAB: In my opinion, this is the best way to get feedback directly from your most valued customers that does not require paid incentives. * LinkedIn: Post surveys on your company's LinkedIn page and/or send surveys to target individuals. * Email Surveys: Reach out to your existing customer base via email. * Phone Interviews: Conduct interviews with current clients for in-depth insights. You can also search for keywords on Gong if you have issues getting access to your customers. * In-Person Surveys: Offer instant incentives (my favorite is a $5 Starbucks gift card) at conferences to gather survey responses. * User Testing: Conduct user testing on your website to gather feedback. * Google Trends: Utilize search trend data to identify rising key terms. * Review Sites: Check G2 and Capterra for feedback (pros and cons). Take screenshots and use for sales slides if helpful! * User Forums and Communities: Reddit, Stack Overflow, and various industry-specific and persona-specific communities like Databeats are super helpful. While these forums can sometimes represent vocal minorities, they often contain valuable nuggets of wisdom. You can also make connections with people who have used your competitors' products and can speak to that! KPIs to consider (again, this depends on your objective): * CSAT, NPS, CAC, CLV, Conversion Rate (my favorite), Customer Retention Rate, Product Adoption (usage based i.e. number and frequency of logins)
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Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
Oh boy, this is like opening Pandora's box for me! Some other challenges I've faced, and why at previous companies we chose to work with Clozd (assuming you have the budget for it!): Internal Bias and Politics: * Sales reps might downplay their role in lost deals (or WHY they lost. For example, "cost/price" is often not the real reason for losing a deal), or paint an overly rosy picture of successful ones. This internal bias can skew the data and make it difficult to extract objective insights. * An external partner brings neutrality to the interview process, reducing the influence of internal politics and ensuring a more objective assessment of the win/loss factors. Resource Constraints: * Conducting win/loss interviews can be time-consuming. Building a program from scratch, including interview guides, analysis frameworks, and reporting tools, requires dedicated resources. * An external partner brings the expertise and pre-built infrastructure to manage the win/loss program efficiently, freeing up your internal team to focus on other high-impact projects, including the win/loss read out. Limited Reach and Participation: * Internally conducted interviews might not reach high-level decision-makers at customer companies, who can provide valuable insights into the buying process. * An external partner has a broader network and experience in securing interviews with key players at customer companies, leading to richer and more comprehensive data. Tailoring the Program: * Adapting the win/loss program to cater to different product lines, sales channels, or customer segments can be complex. * An external partner can offer experience in tailoring win/loss programs to various scenarios, such as company size (SMB vs. Mid-Size vs. Enterprise) Happy to learn more about what challenges you're facing and how to overcome them, either with Clozd or internally as an individual Product Marketer!
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Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
Whether in-house or with a consultant, the goal remains the same: to deeply understand your market and customers, and to leverage this understanding to make informed, strategic decisions. Deciding when to conduct research in-house versus bringing in a consultant is a critical choice that can impact the quality, depth, and utility of the insights gathered. Here's my perspective on navigating this decision: In-House: Leveraging Internal Expertise 1. Deep Product Knowledge: Your in-house team has an intimate understanding of your product, brand, and market. This deep knowledge allows for highly relevant and focused research. If the research requires nuanced understanding of product features, customer interactions, or internal processes, your team is well-positioned to handle it. 2. Cost Efficiency: Conducting research in-house can be more cost-effective, especially for ongoing or smaller-scale projects. If you have a dedicated team with the necessary skills and tools, leveraging these resources can save on consultant fees. 3. Rapid Iteration: In-house teams can iterate quickly. When speed is essential โ€“ such as in agile development cycles or when testing new marketing campaigns โ€“ your internal team can conduct and analyze research promptly, providing immediate feedback. 4. Confidentiality and Control: Managing sensitive information is easier in-house. If the research involves proprietary data or strategic initiatives that require confidentiality, keeping the project within your team ensures better control over information security. When to Bring in a Consultant: Tapping Into Specialized Expertise 1. Specialized Skills and Tools: Consultants bring specialized skills and access to advanced tools that your team may lack. For complex methodologies like conjoint analysis, ethnographic studies, or advanced statistical modeling, consultants can provide the expertise needed to ensure accuracy and depth. 2. Objective Perspective: External consultants offer an unbiased perspective. They can identify blind spots and challenge assumptions that your internal team might overlook. This objectivity is invaluable for ensuring that research findings are comprehensive and credible. 3. Scalability and Scope: Large-scale projects or those requiring extensive resources may be better suited for consultants. If the research scope exceeds your teamโ€™s capacity or if it requires a significant time investment, consultants can scale efforts without overburdening your staff. 4. Benchmarking and Best Practices: Consultants often have experience across various industries and companies. They bring best practices and benchmarking insights that can enrich your research. If you need comparative analysis or insights into industry standards, a consultantโ€™s experience can be particularly beneficial. Balancing the two, what I recommend considering: 1. Assess Internal Capabilities: Start by evaluating your teamโ€™s skills, experience, and bandwidth. Do they have the expertise to handle the specific research methodology required? Can they manage the project without compromising other critical tasks? Or are you a solo PMM like me :) * Underrated but...a key component to making this successful this IMO is can the consultant get access to your Slack for direct conversations and questions? 2. Define the Research Scope: Clearly define the scope and objectives of your research. Is the project complex or straightforward? Does it require specialized knowledge or tools that your team doesnโ€™t possess? Is the timeline tight or flexible? 3. Consider Budget and ROI: Weigh the costs of both approaches. While in-house research may seem cheaper initially, the depth and quality of insights from a consultant could provide higher ROI in the long run. Consider the potential impact of the research on strategic decisions and weigh this against the costs. 4. Hybrid Models: Sometimes, a hybrid approach can be the most effective. Your internal team can handle the foundational work, while a consultant is brought in for specialized tasks or to validate findings--like SEO for example. Ultimately, the decision to conduct research in-house or with a consultant should align with your strategic goals, resources, and the specific needs of the project. By carefully assessing your internal capabilities, understanding the scope and complexity of the research, and considering the potential return on investment, you can make an informed choice that maximizes the value and impact of your market research efforts. In essence, itโ€™s not just about who does the research, but about ensuring that the research delivers actionable, high-quality insights that drive your product marketing success.
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Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
Talk to your customers. I know it can be hard to get access to them via the CS team, but this will give you the best insights for people that know you and your product already for GTM and product development initiatives. Also, listening to Gong calls (in the Discovery phase especially). Set up filters for when you hear "Challenges," or "I wish I could..."
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Michele Nieberding ๐Ÿš€
MetaRouter Director of Product Marketing โ€ข June 12
I work at a 30-person startup right now (aka limited budget, and I'm the only product marketer AND part of a 2-person marketing team) so I totally feel you there. Here are some "tips and tricks" I've found to be really helpful that are low effort but high impact, and of course no budget required! 1. Leverage Free Tools: Tools like Google Alerts, Social Mention, and Feedly allow you to track mentions of competitors, industry trends, and relevant keywords. Set up alerts for key terms related to your industry and competitors to receive timely updates. 2. Utilize Social Media and Forums: Social media platforms are treasure troves of real-time information. Follow your competitors, and pay attention to their posts, comments, and engagement. Join industry-specific groups on LinkedIn and Facebook, and participate in discussions on forums like Reddit and Quora to gauge market sentiment and emerging trends. DataBeats and The MarTech Weekly are communities I personally enjoy, and members are really helpful in answering industry questions I have. 3. Analyze Competitor Websites and Content: Regularly review competitorsโ€™ websites, blogs, and content offerings. Pay attention to changes in their product offerings, pricing, and messaging. Tools like Wayback Machine can help you track changes over time. Additionally, subscribing to competitor newsletters can provide insights into their marketing strategies and new initiatives. 4. Engage with Industry News and Reports: Industry publications, blogs, and newsletters are excellent sources of market trends and competitor activities. Websites like TechCrunch, Mashable, and industry-specific blogs often provide detailed analyses and insights. Subscribe to newsletters and set aside time each week to review the latest articles and reports. 5. Network with Industry Peers: Attend industry events--this includes virtual webinars and conferences. These are great opportunities to hear directly from thought leaders and peers about current trends and competitive landscape. Participating in these events can also help you build a network of contacts who can provide informal insights and share their perspectives. 1. You can tap into these people down the road for specific questions and insights! 6. Review Publicly Available Financial Reports and Press Releases: For publicly traded companies, financial reports and press releases can provide a wealth of information about their performance, strategies, and market positioning. Websites like the SECโ€™s EDGAR database or the companies' investor relations pages are good starting points. 7. Analyze Customer Reviews and Feedback: Platforms like G2 and Capterra can provide insights into customer opinions about your competitors. Reading through reviews can highlight strengths and weaknesses of competitor products and services, and identify unmet needs in the market. Because of limited bandwidth, you need to focus on high impact areas. Prioritize your efforts on areas that are most likely to yield actionable insights. This might include tracking major competitors, key industry trends, and significant shifts in customer behavior. Focus on gathering information that directly impacts your strategic goals and can inform your decision-making process.
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