Gain insights into market positioning, identify gaps, and uncover opportunities to innovate and differentiate your product.
A competitor benchmark survey allows you to measure your company’s performance against others in your industry. By analyzing how similar businesses are succeeding, where they’re falling short, and how they’re perceived by customers, you gain valuable insights into your market positioning. This survey helps product teams and business leaders identify areas where they can differentiate, innovate, and capture more market share.
Benefits of Running This Survey:
- Identify Gaps in Your Offering: Learn where competitors excel and where they’re missing the mark, revealing opportunities for improvement.
- Understand Market Perception: Compare how customers perceive your product versus competitors in terms of value, features, and usability.
- Stay Competitive: Keep tabs on emerging trends and evolving customer expectations to stay ahead of the competition.
- Prioritize Strategic Investments: Focus resources on initiatives that will have the greatest impact in areas where competitors currently dominate.
What This Survey Helps You Discover:
- Problems It Can Solve for Product Teams:
- Are your product’s key features meeting or exceeding industry standards?
- Are there specific pain points your competitors address better than you?
- How does your product’s pricing compare to competitors, and is it perceived as fair?
- Opportunities It Can Identify:
- Which features or benefits can you highlight to stand out in the market?
- What underserved customer needs can you address to capture more market share?
- Are there customer segments that prefer your product over competitors, and how can you leverage that?
Example Use Case:
Suppose you manage a team working on a SaaS product and notice stagnating growth. By running this survey, you learn that:
- Competitors are offering more robust integrations, which your customers also desire.
- Your pricing is perceived as slightly higher, but customers value your superior customer support.
- There’s a growing demand for a feature your competitors don’t yet offer, giving you an opportunity to innovate.
Armed with this information, you prioritize developing integrations, emphasize customer support in marketing, and fast-track the innovative feature to gain a competitive edge.
