Competitor analysis
Professional firms tend to be internally-focused organisations. With multiple demands from internal stakeholders and clients, there is often little time available to really get under the skin of what competitors are doing. Successful firms use competitor insight to understand how they perform relative to peers and their industry as a whole.
Understanding the competitive landscape has arguably never been more important. Traditional professional services firms are facing increased disruption from a new breed of competitors and from evermore intelligent technology. Meanwhile traditional firms continue to expand internationally and consolidate through mergers and acquisitions.
To compete successfully in this competitive market your firm’s strategy needs to be both differentiated and client-focused. This means you need a clear benchmark of where you sit compared with competitors, what clients perceive as your areas of competitive advantage, and where you are falling behind.
Meridian West’s Mid-Market Monitor is an annual syndicated study capturing of the views of 500+ buyers of accountancy and advisory services. It helps firms to benchmark their brand awareness, alignment with client issues, client experience ratings and areas of competitive advantage.
Meridian West can help your firm to:
- Identify strengths and weaknesses of your firm’s market positioning, marketing initiatives and content campaigns compared with competitors
- Measure awareness, market penetration and favorability of your firm’s brand, propositions and services compared with competitors
- Understand innovative best practice approaches from within the professional services sector and elsewhere
- Benchmark levels of spend and BD priorities for your firm compared with others in your sector
