Tom had been running his family-owned bakery for years, but despite the delicious cakes, loyal customers, and his commitment to quality, he knew he was missing something. It wasn’t that the bakery was struggling, but he could see newer bakeries popping up nearby and attracting attention. He wondered, “What are they doing that I’m not?” This small question eventually led him to a breakthrough—one that came through the lens of competitor analysis.
The Realisation that Sparked Change
Tom was initially hesitant about analysing his competitors. “What good is looking at what others are doing?” he thought. But with curiosity and a sense of purpose, he decided to approach it with a fresh mindset. This wasn’t about copying anyone; it was about understanding the wider landscape and identifying where he could stand out.
He began by taking casual walks around town, stopping by the new bakeries and paying attention to the little things. He wasn’t spying; he was simply observing. He noticed the cosy interiors, the way some offered custom birthday cakes as a staple, and how others displayed gluten-free and vegan options prominently. Each small detail was like a piece of a puzzle, gradually painting a picture of what was attracting customers to these other places.
Learning from Competitors’ Strengths (and Weaknesses)
Tom started noting down key aspects from each bakery: what they offered, how they interacted with customers, and even the kind of promotions they used. He realised that one bakery promoted a “weekly flavour” and invited customers to vote for upcoming choices. The customers loved it—it made them feel part of the experience. Another bakery capitalised on being eco-friendly by using biodegradable packaging and promoting locally-sourced ingredients.
These insights helped Tom see areas where he could make a difference in his bakery. While he didn’t want to lose his traditional charm, he realised he could still add value by making a few changes. For example, he decided to introduce a “Baker’s Choice” flavour each week to keep things interesting. Additionally, he started offering a small selection of gluten-free and dairy-free options, ensuring his bakery remained inclusive and appealing to a broader range of customers.
Finding His Own Unique Angle
Observing the competition didn’t just reveal what others were doing; it highlighted what made his own bakery unique. He realised that his family recipes, passed down through generations, were what set him apart. So, he made these recipes a focus, creating a section on his website and in-store displays that shared the story behind each recipe. This wasn’t just a bakery—it was a place steeped in heritage, and his customers began to appreciate the depth of care that went into each bake.
Armed with this understanding, he also adjusted his social media posts, sharing snippets of his family’s baking history, and even photos from his grandfather’s time as a baker. His loyal customers felt more connected to the story, and new customers were intrigued by the idea of trying these unique, heritage-based recipes.
Competitor Insights as a Springboard for Growth
Tom’s competitor analysis wasn’t a one-time project; it became a mindset. Occasionally, he’d check in on other local bakeries and online bakeries for inspiration, keeping track of changes in customer preferences. What started as simple observation had turned into a powerful tool for growth.
With each new insight, Tom felt more confident in his own approach, focusing on building a bakery that reflected both tradition and customer interests. Competitor analysis had helped him align his bakery with current trends, without losing what made it uniquely his. His bakery was no longer just an option; it had become a destination, with customers who felt connected to his story and loyal to his brand.
Why Competitor Analysis Matters for Small Businesses
Many small business owners, like Tom, overlook the value of competitor analysis, seeing it as “watching others” or worrying it might take away from their authenticity. But as Tom’s story shows, competitor analysis can offer more than just a peek at what others are doing—it’s a way to understand the market and refine your unique strengths.
With a few small, insightful changes, Tom’s bakery thrived, creating an experience that resonated deeply with his customers. If you’re looking to unlock similar growth in your business, remember that competitor insights can be the spark that turns your business from “another choice” into “the only choice” in your customers’ eyes.
Want to find your unique angle? Contact Mark A Preston, a Customer Growth Coach & Speaker, and discover how to harness competitor insights for meaningful growth. Mark’s expertise can help you build an authentic customer experience that stands out, without losing what makes your business special. Reach out today and see how competitor analysis can unlock new possibilities for your customer growth journey.
