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Digital transformation has spawned many new companies and remade others. Figuring out and monitoring rivals has by no means been extra essential.
ChatGPT will help establish and analyze direct and oblique rivals, together with these you’ve not heard of. Listed below are some important prompts.
Establish Rivals
ChatGPT’s evaluation of rivals is beneficial for understanding a model’s positioning within the software’s information base. New firms might want to present ChatGPT with background data on their trade and merchandise. For testing, nevertheless, 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 gives related providers permitting writers to publish and monetize newsletters.
- Ghost: An open-source platform that focuses on skilled publishing. It’s recognized for its simplicity and adaptability.
- Mailchimp: Whereas primarily an e mail advertising service, Mailchimp additionally gives options that could possibly be used for e-newsletter monetization.
- TinyLetter: Owned by Mailchimp, it’s a less complicated platform primarily used for private newsletters.
- ConvertKit: A platform that gives e mail advertising providers for creators, together with paid newsletters.
2. Broader Content material Monetization Platforms:
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- Patreon: Identified for permitting creators to receives a commission immediately by their followers via subscriptions, memberships, and per-piece funds.
- Medium: Presents a associate 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 will help 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 take a look at, 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; search engine optimization and membership options built-in | Begins at $9/month for the hosted model; free if self-hosted however requires server prices |
| Mailchimp | Intensive e mail advertising instruments; detailed analytics and A/B testing capabilities | Free tier obtainable; 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 | Massive 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 | Identified for grownup content material but in addition used for different sorts; direct messaging with subscribers | Free to create an account; OnlyFans takes a 20% fee |
| Ko-fi | One-time assist choices (‘purchase me a espresso’), no platform price for donations | Free; Ko-fi Gold membership at $6/month for further options |
Audiences
What are my rivals’ goal audiences? ChatGPT may be very useful for that kind of study, in my expertise. My immediate:
Go to every competitor’s website and analyze its main viewers. Create a desk displaying the competitor, the first viewers, and the positioning parts and pages that point out the audience.
Right here’s the end result, which, once more, I’ve repurposed.
| Competitor | Major Viewers | Web site Parts Indicating Goal Viewers |
|---|---|---|
| Revue | Freelancers, Twitter customers | Integration with Twitter, simplicity in e-newsletter creation, memberships and paid subscriptions. |
| Ghost | Impartial journalists, skilled publishers | Open-source expertise, deal with skilled publishing, superior creator instruments, viewers progress capabilities, and integration choices |
| TinyLetter | People preferring simplicity | Fundamental design instruments like an ordinary e mail consumer, choice for HTML customization, simplicity and ease of use for private or small-scale use |
| ConvertKit | Big selection of creators (coaches, authors, podcasters, musicians, YouTubers) |
Instruments for viewers progress, e mail automation, monetization, testimonials from numerous creators, broad attraction throughout completely 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 assist, deal with various content material sorts, and sustainable earnings stream for creators |
Responding to Rivals
Ought to I reposition my website based mostly on aggressive analysis? Right here’s my immediate:
What ought to I do on my website to draw rivals’ audiences? Analyze rivals’ websites for the best techniques.
ChatGPT recognized highly effective techniques for Substack:
- Content material selection: Showcase a various vary of content material that appeals to creators throughout completely different fields like teaching, writing, podcasting, music, and YouTube creation.
- Creator instruments: Provide sturdy advertising and automation instruments tailor-made for creators. These may embody customizable touchdown pages, e mail advertising instruments, and viewers segmentation options.
- Monetization options: Spotlight choices for monetizing content material, comparable to via digital product gross sales, paid newsletters, and memberships.
- Group constructing: Give attention to options that assist creators construct and interact with their viewers, like superior e mail advertising and automation capabilities.
- Creator success tales: Share success tales or testimonials from numerous creators to show the potential of your platform for his or her artistic and monetary progress.
Weaknesses
What are my rivals’ weaknesses? I selected a type of firms, which I’ll name “Instance” for this put up, as a take a look at. Right here’s that immediate:
Analysis Instance’s opinions and establish gaps Substack may tackle. What are the frequent 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 more cost effective pricing construction or clearer worth for the price could possibly be a pretty different for customers.
- Complexity for Newbies: Whereas Instance has advanced to supply a variety of options, this has led to elevated complexity. Customers who most well-liked the platform’s authentic simplicity is perhaps searching for a extra simple, user-friendly choice.
- Deliverability Points: There are mentions of challenges with e mail deliverability. Guaranteeing excessive deliverability charges and offering clear metrics could possibly be a key promoting level.
- Restricted Free Plan Options: The current discount in options obtainable within the free plan has been some extent of competition. Providing a extra beneficiant free plan may entice customers who really feel constrained by these limitations.
- All-in-One Advertising Options: Some customers really feel that whereas Instance gives an all-in-one advertising platform, the options should not as sturdy as they want. Enhancing particular functionalities or providing extra built-in options would possibly attraction to those customers.
- Buyer Help: Enhancing buyer assist and offering extra customized help may tackle issues from customers who’ve had lower than passable experiences with Instance’s assist.
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