Bethan Vincent is an experienced marketer who has worked with a variety of firms in B2B SaaS and B2B Services and has now started marketing agency Open Velocity. Bethan believes in good competitor analysis and how we might get ahead of our competition by going out and finding out what's going on. We spoke about the joys of fractional marketing leadership, and some of the ways to get competitive analysis done.
This episode is sponsored by Skiplevel. Do you struggle with communicating with dev teams and understanding technical terminology and concepts? On episode 98, I hosted Irene Yu, founder of Skiplevel, an on-demand training program that helps professionals and teams become more technical in just 5 weeks... All without learning to code. Learn the knowledge and skills you need to better communicate with devs and become more confident in your day-to-day role with the Skiplevel program. You can use referral code OKIP to support this podcast!
Your competitors are out there and, in many cases, there'll be interesting stuff on their websites but you need to use a variety of techniques to really get to the bottom of what they're doing.
2. You need to know your own target market & positioning before evaluating othersIt may be Marketing 101, but it's important to understand the space you're playing in, the audience you're going after & who your direct & indirect competitors are before doing competitor research
3. It's important to have a hypothesis you want to test for your competitorsThere are many tools and approaches you can use, but you need to know what question you're trying to answer. Just finding interesting "stuff" is... interesting, but maybe not particularly useful.
4. Just because a competitor is doing something doesn't mean they're being rationalBe aware of what competitors are up to, but blindly copying them is not a good strategy. You need to be in charge of your own destiny, be a leader and do things others can't replicate.
5. Product management should be considered a subset of marketing 🔥"Product" is one of the many "Ps" in marketing. Product managers should care about packaging, positioning, pricing, promotions and all the rest. It's not just about what you build or how you build it.
Contact BethanYou can catch up with Bethan on LinkedIn or Twitter as well as apparently TikTok if you're into that sort of thing. Make sure to check out Open Velocity too.
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Lifelong learning & the perils of time-based roadmaps (with Andrea Saez, Product Growth & Education @ ProdPad)
Managing Tension in Product Management (with Marc Abraham, author & Head of Product @ ASOS.com)
Product Processes & the Importance of Work / Life Balance (with Busayomi Omotosho, PM @ Softcom)
Growing a PM career & the importance of side hustles (with Victoria Tkatch, Senior PM @ Sonos)
Technical Product Management & the importance of mentorship (with Mark Yamashita, Technical PM @ Sensibill)
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AI Product Management & The Importance of Communication (with Mark Graham, Lead PM @ Sharktower)
Entrepreneurship & being a founder (with Matt Wilkinson, Founder @ Zenquiries)
The role of education in leadership (with Mac Maistrelli, Engineering Leader @ Blocket)
Building inclusive products for all (with Nidhi Wadmark, PM @ PayPal)
Making yourself heard in the workplace (with Priyanka Naik, Growth PM @ Advarisk)
Networking to start your Product career (with Anna Lieberman, aspiring PM)
Using your experience to teach the next generation (with Maanas Bukkuri, PM and educator)
Putting users back at the heart of UX (with Dr Nick Fine PhD, UX consultant)
Being an AI Product Manager (with Pouya Jamshidiat, author & Senior PO at Eagle Genomics)
Getting started in Product (with Becca Vibert, Product School speaker & PM @ Fiit)
Product leadership & how heroism doesn't scale (with Saeed Khan, product consultant @ Transformation Labs)
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