Automate competitor monitoring
Posted: Mon Jan 20, 2025 6:47 am
Competitor analysis is not a one-time task. It requires constant monitoring to keep up with market changes.
Set triggers to automate repetitive tasks and stay on track with ClickUp Automations
Set triggers to automate repetitive tasks and stay on track with ClickUp Automations ClickUp Automation saves you considerable time.
You can automate notifications of **competition updates, such as price changes or new campaigns. It's also easy to trigger task assignments, workflow updates, or notifications to your team of critical information.
For example, you can create an automation that flags updates to a competitor’s promotional activity and assigns a task to your marketing team to analyze their impact.
Fun fact: Many competitor analysis efforts follow the 80/20 rule (Pareto Principle), where companies general manager email list focus on the 20% of competitors that account for 80% of market activity.
Strategies to address indirect competition
To deal with indirect competition, it is not enough to simply monitor direct rivals. You need to proactively adapt to changing market dynamics, understand customer behaviour and differentiate your offering.
Here are four strategies that can help you stay ahead.
1. Understand your unique selling proposition (USP)
Your USP is what sets you apart from the competition. It is essential to highlight what makes your product or service unique, especially when you are facing indirect competition.
Whether it's quality, convenience or customer service, your audience needs to know why your offering is the best choice. Periodically revisit your USP to ensure it remains relevant and strong in a changing market.
Fun fact: The rise of streaming platforms like Netflix, Hulu, and Disney+ has indirectly affected cable TV providers. While these platforms don’t directly compete with cable (as cable offers live programming), they have significantly eroded the traditional TV model by offering flexible, on-demand entertainment.
Set triggers to automate repetitive tasks and stay on track with ClickUp Automations
Set triggers to automate repetitive tasks and stay on track with ClickUp Automations ClickUp Automation saves you considerable time.
You can automate notifications of **competition updates, such as price changes or new campaigns. It's also easy to trigger task assignments, workflow updates, or notifications to your team of critical information.
For example, you can create an automation that flags updates to a competitor’s promotional activity and assigns a task to your marketing team to analyze their impact.
Fun fact: Many competitor analysis efforts follow the 80/20 rule (Pareto Principle), where companies general manager email list focus on the 20% of competitors that account for 80% of market activity.
Strategies to address indirect competition
To deal with indirect competition, it is not enough to simply monitor direct rivals. You need to proactively adapt to changing market dynamics, understand customer behaviour and differentiate your offering.
Here are four strategies that can help you stay ahead.
1. Understand your unique selling proposition (USP)
Your USP is what sets you apart from the competition. It is essential to highlight what makes your product or service unique, especially when you are facing indirect competition.
Whether it's quality, convenience or customer service, your audience needs to know why your offering is the best choice. Periodically revisit your USP to ensure it remains relevant and strong in a changing market.
Fun fact: The rise of streaming platforms like Netflix, Hulu, and Disney+ has indirectly affected cable TV providers. While these platforms don’t directly compete with cable (as cable offers live programming), they have significantly eroded the traditional TV model by offering flexible, on-demand entertainment.