Competitive Benchmarking
Taking an in-depth look at your competitors is an effective way to determine the ways your business excels, identify areas for improvement, and sheds light on opportunities that might otherwise go unnoticed.
Taking an in-depth look at your competitors is an effective way to determine the ways your business excels, identify areas for improvement, and sheds light on opportunities that might otherwise go unnoticed.
For most small and mid-sized manufacturers (SMMs), the day-to-day struggle to develop and ship products that stand apart in the marketplace can be all-consuming. What’s more, in many cases, a production-centric mindset results in a focus on the specs, materials, and other attributes that are vital to product quality. These are necessary focal points, to be sure, but they can leave little time for analysis of others in the same production space who may have something to teach you. When the time comes to assess competitors, companies struggle to get started; is it better to study aspirational rivals or those who pose a direct challenge? What are the most important data points? What can be learned without direct outreach? DVIRC’s Competitive Benchmarking service enables you to keep running your business while DVIRC gathers and analyzes the relevant data—competitors’ reach and capabilities, areas of expertise, industry focus, and unique attributes that may set them apart.
DVIRC’s Competitive Benchmarking service is an ideal, efficient way to determine your true competitive landscape. With a specific focus on manufacturing- and decades of experience helping countless SMMs better understand their competitors, the ways they present themselves in the marketplace, and how to leverage that knowledge, DVIRC brings a unique perspective to and awareness of the factors that go into manufacturing success and overall competitive awareness. Starting with a discovery conversation that gathers a list of the competitors you face regularly (or may encounter given growth or expansion into a new industry or geography), and continuing with a template of the critical performance factors—company size, industry focus, facilities/capabilities, geographic reach, certifications, or other attributes—we deliver a clear, easy-to-understand picture of the world “out there.”
While DVIRC customizes every program to meet the needs of each customer, most competitive assessments include: