Performing competitive analysis is very important for any online/software business. Well structured and efficient competition analysis done before the 'design' can assure your competitive edge and can improve probability of doing better business.
Good competitive analysis can provide you very good picture about your business future, how it would perform and can help to focus the design and development of project in right direction of business success.
You may have fair idea on who are your customers, how they are performing and perhaps, how much business they do. However without having professionally crafted 'competition analysis', what you know is primitive information. There are more to identify, recognize and consider about.Every company that has a handle on their market space knows who the competition is. And just about every company has a list of companies on their "target list" -- that special subset of companies that they want to beat soundly in the marketplace.
In order to meet the challenge in fast evolving and dynamically changing business environment, such features as easiness of GUI navigation, flexibility in changing business rules, data mining and data transformation services (DTS) are crucial for any desktop or web application. Other important issues that need to be considered are security, role-based access of the information, backup/archiving, fail-safe and auto recovery, trail-back and application logs. For achieving these common business goals, our developers use the full range of functionality for building sophisticated stand-alone applications as well as hosted applications.
Regardless, the list you get will likely be incomplete. That's because the people giving you the list will have their "business" hat on, not their "functionality" hat on. For example, if you are doing online business of selling 'cosmetics', you might be having list of all business who are doing cosmetic business online. However, it would be wise to add other business area that does 'cosmetic' business indirectly. For example, your competitor might be using affiliate system by which lots of other website, not preliminary selling cosmetics, might be selling their products.
In case of online business, we all know that customers have wide range of options, they are enough smart and they come from different path (Searching on search engine, newsletter, email marketing).
In case of off-line business sales or marketing rep may have an opportunity to change strategy based on customer perceptions and 'reactions'. However in case on online business this is merely 'one way', you customer gets what he wants to get. You don't have much control and dynamics on this.
What do provide?
Our experts by competitive analysis can provide you list of your competitors (Current and potential) with SWOT analysis on each.
In case of online business, broadly we analyzed your competitors and your website in perspective of