Competitors Strengths and Weaknesses Analysis with world's most in-depth data on competitors
Success for product marketing professionals depends on analyzing in-depth competitive data to created an objective competitors strengths and weaknesses assessment:
How to increase sales teams' confidence in your competitive analysis?
How frequently is the competitors data refreshed in battle cards and sales collaterals?
Product marketing requires both creativity and data-driven decisioning. In today's world, everyone is shipping products and creating content faster than ever. While a successful product marketer has the creativity to come up with great positioning and sales collaterals, one has to keep up with the fast pace and overcome the challenge of information overload. Based on our interactions and experience, most product marketers face the following challenges :
Cumbersome to track all the updates from the key competitors
Difficult to manually research on ever increasing number of competitors
Several or too many data sources (like, G2, Crunchbase, Social Media, etc.) to monitor
In some tech sectors like marketing technology (mar-tech), advertising tech (ad-tech) and sales-tech or CRM, adjacent product launch of a company may make it a new direct competitor of a bunch of other companies. A well known fact is that there are potentially 7,000 companies in the sales-tech/mar-tech/ad-tech categories and this number is increasing every year.
The reality is that almost all sectors in tech are experiencing a similar competitive growth due to broader macroeconomic factors like, access to capital, and increasing sophistication of the users that leads to new experiences (hence, new entrants).
This is why we created StatsLateral.
Our founding team has been in product marketing roles and we set the following goals:
How can we easily build competitive product insights that are data-driven and objective?
Is it possible to reliably address strategic topics like product positioning through data?
While a few tools can help track the breadth of information across the third party data sources (like, Crunchbase and Social Media), none of these tools can provide in-depth competitive product analysis, which is the key competitive data needed for any product company.
After months of hard work, we are proud to launch our first product at StatsLateral (currently in beta) with the goal of answering such hard questions. We leverage a modern tech stack and intelligent tech (AI/ML) to gather, process and analyze large amounts of information and data to build insights that are data-driven, unambiguous and defensible. We can apply our tech on dozens or even 100s of companies and across over dozens or 100s of potential product features and capabilities. We analyze information from several thousands of data points (which will soon be millions of data points with our scalable tech) to reliably and simply answer the key questions, such as:
1. What are competitors product strengths and weaknesses?
This analysis is based on a subset of data (collected from public sources): 8 product features for 8 companies (names masked) for this post. You can sign up for a free data analysis and insights here,
* A darker circle represents a relatively stronger capability.
The above in-depth data analysis is fully automated with our product. A product marketer can review the detailed underlying data, apply their own analytical models or scoring methodology, and easily generate the needed visualizations and insights. We reduce the manual effort from days to a matter of minutes.
2. Which product capabilities provides the most differentiation?
In this example, if you are company E, it's the A/B Testing capabilities. The data analysis can provide a specific answer and now a product marketer can strategically think about great positioning for their product. You can more about our product here.
We believe there are several third party analysts and great reports out there which provide good high view on the industry trends and competitor updates. Although, these analysts manually publish 1-2 reports on a handful of (10 - 15) companies in a year. With StatsLateral product, a product marketer can access significantly large quantity of relevant and current data, and run intelligent analyses to address very specific business questions or needs within a few minutes. StatsLateral has been built with the best software product culture at its core. Our goal is to provide deep, specific and highly relevant insights to our users who know that in the tech industry, the devil is in the details. We envision a future where machines can help us, not to perhaps boil the ocean, but at least process a large quantity of information with the speed at which we are creating it. Feel free to drop us a line of feedback or comment: firstname.lastname@example.org