In the previous article, I posted the main idea that you can compensate for the shortcomings of your customer journey by not only creating your own customer journey, but also the customer journey of your competitors. However, in the previous article, we hardly touched on the specific benefits of comparing your company’s customer journey with that of your competitors. In the previous article, however, we hardly touched on the specific advantages of comparing your competitors. Therefore, I would like to describe the specific benefits in this article. If you have not read the previous article, I highly recommend that you read the previous article before reading this one.
For example, let’s say that you have created your own customer journey and have come to the conclusion that the bottleneck is in the comparison phase. If you are only creating your own customer journey, the next step is to identify the issue of why you are missing so many customers in the comparison phase. The next step is to identify the issues. At that point, if you are only creating your own customer journey, you can only review and brush up your current content. At best, you may only be able to make minor adjustments, such as changing the design of the Ebook a little or making the wording a little easier to understand.
However, when we looked at other companies’ customer journeys, we found that they only promoted their products and services and did not provide content that clarified the customer’s issues, while other companies were able to explain how they should approach each customer issue. And you will notice that they describe in detail how this product solves that problem. In other words, you will be able to get closer to the essence of the problem.
In fact, if the number of hits and ebook downloads were about the same as the competitor’s, we can assume that the competitor would definitely be able to close more deals than the competitor, while the competitor would only be able to close 10 deals for every 100 ebook downloads. One advantage of comparing your company with your competitors is that you can better see what is wrong with your company.
But that is not the only benefit of this competitive comparison. For example, let’s say your company is the 3rd or 4th largest company in your industry. How can you beat the #1 or #2 company in your industry? You are thinking hard every day with limited resources about how you can beat the number one and number two companies in your industry. The No. 1 and No. 2 firms in the industry, by investing more money in advertising than you could ever spend on your own, have gained overwhelming name recognition and market share, showing the difference in capital strength. The number of business negotiations is also considered to be more than twice that of your company in terms of sales.
You then decide to create a customer journey for your company and your competitors. You want to find out where you have the best chance to win. Then, surprisingly, you find that the percentage of Eook DLs that lead to business meetings is lower than that of your company. You ask yourself why? think about it. And you come up with the idea by looking at your Ebook and advertising content. The advertisement claims to be able to handle a wide range of tasks, but the Ebook or website states that it cannot handle such a wide range of tasks. So, the customer is disappointed and not leading to a business deal, right? In a way, you can imagine that you are creating disappointed people in proportion to the number of email addresses you get.
At that point, you shift your attention to your own company’s customer journey. Speaking of which, the reason why the ratio of Ebook downloads and business meetings is surprisingly high even though we don’t do much advertising is because they initially considered our competitors but searched our website because their requirements were not met, right? Therefore, isn’t the probability of resulting in a business meeting increasing as a result? If you think so, you should re-read the search keywords in Google Analytics. Then you realize that in many cases, many of the people who have entered into business discussions have inquired about your company using keywords such as “product category ●● can do” or “product name ●● cannot do” because their requirements were not met by the competitor’s product.
By creating a customer journey for your competitors (you can set the numbers to some extent based on your imagination), you can identify their weaknesses and the possibility of soaking them in. In this example, if the customers that the competitor missed are an attractive volume for your company, and if your company can fully satisfy the customers that the competitor cannot meet the requirements, then instead of running ads similar to those of your well-capitalized competitor, you can target the customers who saw your competitor’s ads but could not meet the requirements. If the customer’s requirements are not met by the competitor, then it is possible to acquire potential customers more effectively by placing targeted advertisements, modifying the keywords on the website, or creating an Ebook on the subject.
We have found the possibility that there are many customers who have not searched for a certain keyword, but have given up on searching for a certain keyword. I am not so sure about this.
It is difficult to know yourself, even if you are struggling within yourself to decide what is right and what is wrong. However, just as comparing yourself with someone else will clarify your good points and your shortcomings, comparing yourself with other companies will clarify your company and the situation you are in, rather than thinking about what is right and wrong in your own company.