In order to illustrate using competitor intelligence statistics in your business, I’m using my own business as an example.

In yesterday’s post, I identified my major competitors for my textbook. For today’s post, I’ll present some really simple statistics that deal with market share to show you how much information this one variable of competitor intelligence statistics can help you to answer the question:

How Much Of The Market
Do Your Competitors Have?

My answer to this question builds from yesterday’s post. It then builds from what I learned about who my competitors are to determine the market share for each, and the weakest area of competition for my design book.

Another Example of
Competitor Intelligence Statistics

If my competitor intelligence statistics determine that 20 percent of small business owners use agencies to design their publications, and another 30 percent outsource publication design to freelancers and print shops, then half of small business owners use my competitors.

If 30 percent of the remaining small business owners hire employees with graphic design skills, those employees probably have their own books written from a graphic design perspective. That leaves approximately 20 percent of the market using books on individual publications to design their publications.

Presently I have the best opportunity to win sales in the 50 percent not outsourcing their publications, particularly the 20 percent using individual publications because by buying my more expensive book, they can save over buying multiple individual books on each type of publication.

Competitor Intelligence Statistics
Example Conclusion

This example illustrates how competitor intelligence statistics helped me to determine which part of the market provides the weakest competition so I can win part of their sales.

If you take a similar approach to using the simplest of competitor intelligence statistics, you too can find the best opportunities for your products and services.

Of course, the more competitor intelligence statistics that you gather, the more those statistics can reveal opportunities for your business to beat your competitors. So start today gathering your own competitor intelligence statistics.

Tomorrow’s post will cover other Competitor Intelligence Statistics to help you with your competitor analysis. If you found this post through a search, you can access it by clicking on the link in the prior sentence.

You can get a copy of the special report on market segmentation, by completing the form below:

Posted 6-3-08:
Competitor Intelligence Statistics 1

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