Digital transformation has spawned many new companies and remade others. Figuring out and monitoring rivals has by no means been extra crucial.
ChatGPT can assist determine and analyze direct and oblique rivals, together with these you’ve not heard of. Listed here are some important prompts.
Determine Opponents
ChatGPT’s evaluation of rivals is beneficial for understanding a model’s positioning within the instrument’s information base. New corporations might want to present ChatGPT with background data on their trade and merchandise. For testing, nonetheless, I pretended to be the founding father of Substack. Right here’s my immediate:
I’m the founding father of Substack. Who’re my rivals?
ChatGPT’s response was spot on:
1. Publication Platforms:
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- Revue: Acquired by Twitter, Revue affords comparable providers permitting writers to publish and monetize newsletters.
- Ghost: An open-source platform that focuses on skilled publishing. It’s identified for its simplicity and adaptability.
- Mailchimp: Whereas primarily an e mail advertising service, Mailchimp additionally affords options that may very well be used for e-newsletter monetization.
- TinyLetter: Owned by Mailchimp, it’s an easier platform primarily used for private newsletters.
- ConvertKit: A platform that provides e mail advertising providers for creators, together with paid newsletters.
2. Broader Content material Monetization Platforms:
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- Patreon: Recognized for permitting creators to receives a commission straight by their followers via subscriptions, memberships, and per-piece funds.
- Medium: Affords a accomplice program the place writers can earn cash based mostly on reader engagement with their articles.
- Ko-fi: A platform the place creators can obtain donations and promote subscriptions or merchandise.
Options
What are my rivals’ distinctive options? This immediate can assist founders with product growth and positioning:
Create a desk itemizing the distinctive options of every competitor and pricing.
Right here’s ChatGPT’s response. I’ve repurposed the desk for this text. At all times ask ChatGPT for the date of its information if it doesn’t present it. In my check, the response was based mostly on the April 2023 replace.
| Platform | Distinctive Options | Pricing |
|---|---|---|
| Revue | Integration with Twitter, permitting for simpler sharing and viewers constructing on the social platform | Free; Twitter takes a 5% minimize of subscription income |
| Ghost | Open-source with superior customization choices; website positioning and membership options built-in | Begins at $9/month for the hosted model; free if self-hosted however requires server prices |
| Mailchimp | In depth e mail advertising instruments; detailed analytics and A/B testing capabilities | Free tier accessible; paid plans begin at $9.99/month |
| TinyLetter | Simplistic design and performance targeted on private newsletters | Free; restricted to five,000 subscribers |
| ConvertKit | Excessive deliverability charges; sturdy automation and tagging system for segmentation |
Free tier as much as 1,000 subscribers; paid plans begin at $29/month |
| Patreon | Membership tiers for various ranges of content material entry; sturdy community-building instruments | 5% to 12% of month-to-month earnings plus fee processing charges |
| Medium | Giant built-in viewers; earnings based mostly on reader engagement fairly than subscriptions | Free to publish; readers pay $5/month or $50/yr for limitless entry |
| OnlyFans | Recognized for grownup content material but additionally used for different varieties; direct messaging with subscribers | Free to create an account; OnlyFans takes a 20% fee |
| Ko-fi | One-time help choices (‘purchase me a espresso’), no platform payment for donations | Free; Ko-fi Gold membership at $6/month for additional options |
Audiences
What are my rivals’ goal audiences? ChatGPT could be very useful for that kind of study, in my expertise. My immediate:
Go to every competitor’s web site and analyze its major viewers. Create a desk displaying the competitor, the first viewers, and the positioning parts and pages that point out the target market.
Right here’s the end result, which, once more, I’ve repurposed.
| Competitor | Main Viewers | Web site Parts Indicating Goal Viewers |
|---|---|---|
| Revue | Freelancers, Twitter customers | Integration with Twitter, simplicity in e-newsletter creation, memberships and paid subscriptions. |
| Ghost | Unbiased journalists, skilled publishers | Open-source know-how, give attention to skilled publishing, superior creator instruments, viewers development capabilities, and integration choices |
| TinyLetter | People preferring simplicity | Fundamental design instruments like a regular e mail shopper, possibility for HTML customization, simplicity and ease of use for private or small-scale use |
| ConvertKit | Wide selection of creators (coaches, authors, podcasters, musicians, YouTubers) |
Instruments for viewers development, e mail automation, monetization, testimonials from varied creators, broad enchantment throughout totally different artistic fields |
| Patreon | Numerous content material creators (video makers, podcasters, writers, musicians, educators) | System for creators to supply unique content material/advantages for monetary help, give attention to various content material varieties, and sustainable earnings stream for creators |
Responding to Opponents
Ought to I reposition my web site based mostly on aggressive analysis? Right here’s my immediate:
What ought to I do on my web site to draw rivals’ audiences? Analyze rivals’ websites for the simplest ways.
ChatGPT recognized highly effective ways for Substack:
- Content material selection: Showcase a various vary of content material that appeals to creators throughout totally different fields like teaching, writing, podcasting, music, and YouTube creation.
- Creator instruments: Supply sturdy advertising and automation instruments tailor-made for creators. These may embrace customizable touchdown pages, e mail advertising instruments, and viewers segmentation options.
- Monetization options: Spotlight choices for monetizing content material, resembling via digital product gross sales, paid newsletters, and memberships.
- Neighborhood constructing: Give attention to options that assist creators construct and have interaction with their viewers, like superior e mail advertising and automation capabilities.
- Creator success tales: Share success tales or testimonials from varied creators to reveal the potential of your platform for his or her artistic and monetary development.
Weaknesses
What are my rivals’ weaknesses? I selected a type of corporations, which I’ll name “Instance” for this put up, as a check. Right here’s that immediate:
Analysis Instance’s critiques and determine gaps Substack may tackle. What are the widespread complaints of Instance’s clients?
ChatGPT searched Bing for a number of minutes earlier than responding:
- Pricing Construction: Some customers discover Instance’s subscription plans to be costly, particularly as their subscriber rely grows. A less expensive pricing construction or clearer worth for the price may very well be a gorgeous various for customers.
- Complexity for Learners: Whereas Instance has advanced to supply a variety of options, this has led to elevated complexity. Customers who most popular the platform’s unique simplicity is likely to be searching for a extra easy, user-friendly possibility.
- Deliverability Points: There are mentions of challenges with e mail deliverability. Making certain excessive deliverability charges and offering clear metrics may very well be a key promoting level.
- Restricted Free Plan Options: The latest discount in options accessible within the free plan has been a degree of competition. Providing a extra beneficiant free plan may appeal to customers who really feel constrained by these limitations.
- All-in-One Advertising Options: Some customers really feel that whereas Instance affords an all-in-one advertising platform, the options should not as sturdy as they want. Enhancing particular functionalities or providing extra built-in options may enchantment to those customers.
- Buyer Help: Bettering buyer help and offering extra customized help may tackle considerations from customers who’ve had lower than passable experiences with Instance’s help.
