How to use chatgpt to analyse industry competitors

In the previous article, we talked about how to use chatgpt to write a CV, in this piece, let’s take a look at how to use chatgpt to analyse and do a strengths analysis with your competitors to understand the gaps between each other and then do a reverse feasibility strategy development to put yourself in an advantageous position.

Why use chatgpt to do competitor analysis

Modern society is becoming more and more competitive, business is hard to do, the more you know about your customers, the more you know about your competitors, the more you can be a step ahead,. The traditional way is to hire a research company to do the data collection, integration and finally analysis, which is more costly, now with chatgpt we are able to do this faster and more efficiently, and you only need to pay for the cost of your time. All this requires is that you make simple prompts, here’s how we do it step by step.

Find your competitors with chatgpt

Prompt word: I have a company that does laser cutting and specialises in laser cutting machines, could you please help me find the top 5 companies in this field?

After only ten seconds, the names and brief descriptions of the top five companies in the field of laser cutting will be presented to you.

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Use chatgpt to find the competition

Now that we know that these 5 company’s are the best in this industry at what they do, and we know their basic information, now we have to use chatgpt to find out what the best product their company does.
Hint word: List the products that have the largest share of sales for these five companies.

With these analyses, you know more information to identify the strengths and weaknesses of your rivals, well, now we also have to know the marketing strategies of our competitors, how do we do that? Or should we continue to ask questions to chatgpt.

Prompt words; you have done a good job, now I want to know their marketing strategy, through which channels they are promoting their campaigns, are there any website or social media marketing and specific advertising strategies.

Comparison of competitors and service offerings

Having this is not enough, what are the differences between the competitor’s products and services and mine, what are the advantages and disadvantages of each, this should also be clarified.
Prompt word: Our company’s products are priced in the range of 50-100, we provide online purchase channels, new customers will be sent to their homes with package delivery, and regular customers will be provided with a 10% discount, please make a comparison and analyse the differences between the above 5 and our company.

Social media assessment of competitors using chatgpt

Please analyse the first competitor’s performance on social media, summarise their marketing strategy, target audience, content model, customer experience and the results achieved to show me.

Analysis of Future Trends

Prompt word: Based on the above information, please help me to research and summarise a development strategy so that my company can achieve a bend in the road.

Analysing competitors’ shortcomings with chatgpt

Chagpt is not networked, the information we have now are all previous data, may be last year, may be the year before, there is a certain timeliness, can not be tracked in real time. Secondly, the results it outputs are largely determined by your cue word, so editing the cue word is crucial.

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