Competitor Analysis on Etsy | Identify Product Gaps from Customer Feedback

Enhanced Prompt: Comprehensive Competitor Analysis on Etsy to Identify Product or Service Gaps

Objective: The goal is to conduct a detailed analysis of your competitors' customer feedback and complaints on Etsy to identify product or service gaps that you can exploit to improve your offerings. This analysis will help you gain insights into customer needs, preferences, and pain points, enabling you to differentiate your products and enhance customer satisfaction.

Deliverables:

1. Competitor Feedback Report: A comprehensive report summarizing customer feedback, complaints, and sentiment analysis.
2. Gap Analysis Report: Identification of product or service gaps based on customer feedback, including specific examples and quantitative data.
3. Actionable Insights: Recommendations for product features, pricing, customer support, and delivery improvements.
4. Competitive Benchmarking Report: Comparison of your product offerings against competitors, highlighting areas for improvement.
5. Presentation Slides: Visual aids summarizing key findings, gaps, and recommendations for internal stakeholders.

Industry Best Practices and Standards:

• Utilize industry-standard tools for data analysis, such as Google Analytics, SEMrush, and social listening tools like Hootsuite or Brandwatch.
• Follow best practices for customer feedback analysis, including sentiment analysis, frequency analysis, and trend analysis.
• Consider the following metrics and KPIs:
  • Net Promoter Score (NPS)
  • Customer Satisfaction Score (CSAT)
  • Customer Lifetime Value (CLV)
  • Revenue Growth
  • Customer Acquisition Cost (CAC)
  • Churn Rate
  • Customer Support Ticket Resolution Time
  • Product Return Rate

Quality Expectations:

• Ensure the analysis is thorough and unbiased, avoiding confirmation bias.
• Use a structured methodology, such as the 5W2H framework (Who, What, When, Where, Why, How) to guide the analysis.
• Present findings in a clear, concise, and actionable manner.
• Include quantitative data and visualizations where applicable.
• Ensure the report is well-organized, with logical flow and coherence.