Should you dissect your competitors by industries that are most bound to encounter them in?

You can certainly do this, but if you’re going to go that route I would recommend that instead look at competitors by solution bucket. Which competitors are coming up more for X for Y solution? What about A solution? Or B solution? for each - what are competitors doing well? Are there unique platform capabilities to call out? Are their certain tech integrations they have that make them super sticky? Where have you beaten them historically? Are expectations from the customer side evolving, and if ...Read More

Yes, dissecting competitors by industry makes sense when their strengths, weaknesses, and traction vary across verticals. Some competitors thrive in highly regulated industries like financial services or healthcare due to compliance and security advantages, while others gain momentum in AI-heavy sectors like retail and media because of their data processing capabilities. For example, Snowflake and Databricks compete broadly in data infrastructure, but Snowflake has a clear edge in financial serv ...Read More

If you see different competitors by industry, then yes. At a previous company we realized that when we expanded into different industries (e.g. going from Tech to Healthcare), the competitive landscape changed somewhat. By doing a win/loss analysis we figured out that most deals that we lost, were 80% of the time going to a vendor we had never heard before. As we dug into it, we realized that the vendor had its origins in the healthcare space and since inception had never ventured out of that in ...Read More

If you're asking this question, it sounds like your sellers are likely to see different competitors in different industries. I would ask: Do the use cases differ for customers in different industries? Do you and your competitors have different relative strengths in different industries, on buying criteria that carry different weights? Would your sellers need to run different competitive plays based on the industry they're selling to? If you answered yes to either of these questions, you may need ...Read More

It can be helpful to dissect your competitors by the industries in which you are most likely to encounter them, as this can provide valuable insights into their strengths and weaknesses, as well as their strategies and tactics. By understanding the industries in which your competitors operate, you can better position your own products and services in the market, and tailor your marketing and sales efforts to address the unique needs and pain points of those industries. Additionally, studying you ...Read More

This question blends market strategy with competitive strategy. Yes, it’s common to pursue industries that align with your GTM strategy. (Pro-Tip! Check out my AMA on GTM strategy here). In doing so, you’ll run into competitors who’s GTM strategy may be similar to yours. That could include industries or geo-locations. If you’re just starting your competitive analysis from scratch, then prioritizing competitors who show in your target market is a great place to start. However, don’t stop there wh ...Read More