Understanding the concepts of market research and competitive analysis is essential when preparing the startup pitch deck. Market research gathers, analyses, and interprets information about customers’ needs, industry trends, and market drives. Whereas competitive analysis is considered a subset of market research, when you investigate your competitors, you may learn about their future goals and current practices by applying market research principles and procedures.
Well, start by defining your value proposition and laying stress on what makes your products and services unique and how they address customer needs better. Follow it by highlighting your USPs, such as innovative features and exclusive technology that make your business stand out. Demonstrate your positions, display your quality, pricing, and strength, and add proof, such as customer testimonials, case studies etc, that validate your services.
Always start by defining your target market and knowing the key customer segments and their demands/needs. Critically analyse the market size and its growth potential and demonstrate the opportunity. Study the latest industry trends, competitors’ strengths, customer preferences, and weaknesses. Use credible data sources and customer insights that verify your assumptions and support your strategy.
Every business pitch presentation plan isn’t completed with market research and competitive analysis. At PitchOurWay, we have a team of experts who work around the clock to deliver the quality research points that need to be added to your pitch deck. Well, the timeline solely depends upon the scope and complexity of the study. However, completely tracking strategies may take a few weeks to a month.
At PitchOurWay, we use a mix of qualitative and quantitative research methods that encompasses focus groups, data analytics, customer interviews, surveys, etc. Even all teams also use advanced tools such as trend forecasting, competitor benchmarking, market segmentation analysis and many others for competitor benchmarking to deliver comprehensive insights.