Competitive Product Analysis on Digital Personalization
A head of sales (CRO), at a post-series C growth stage Digital Personalization company, would like to develop a deeper understanding of the competitors. Some of his key questions were:
How should I look at competition - direct competitors (offering same capabilities) and not so direct (offering somewhat similar capabilities)?
What capabilities do they offer?
How do they position in the market?
The CRO hears about the StatsLateral product through his professional network and he signs up as a beta user. He refers to a Gartner report published a year back, which has not been refreshed since the. After signing up on StatsLateral, the user is able to:
View an expanded list of potential competitors (way more than Gartner's report) to select the most relevant companies for competitive insights
Review a detailed list of product capabilities offered by the competitors and runs a comprehensive StatsLateral analysis on 27 companies and over 25 capabilities
Generate competitive product analysis for the selected companies at the click of a button
Within minutes, the head of sales is able to generate insights on 27 direct and in-direct competitors with over two dozen product capabilities. Some of these insights were:
Three competitors seem to have deeper capabilities for "Personalized Recommendations", which is the core capability of his company
More than 50% of the competitors are offering "Artificial Intelligence" and "Machine Learning" based capabilities, hence diluting AI-based positioning in the market. Only two competitors offer "Deep Learning"
The least addressed capabilities across the competitors are: Individual Personalization, E-commerce Personalization and Retargeting Personalization
Some of the competitors offer channel-specific specialization:
- Four in "Email Marketing"
- Six in "Social Media"
- Two in "Mobile Marketing"