After conducting my initial competitive analysis last week I determined my main competitor of my idea to be Indeed due to the massive supply of jobs available on its platform, being the number one provider of jobs found online in the country. However, after some thought I believe the main competitor would be Craigslist for a few reasons. Although I initially believed Indeed to be the biggest competition, I realized the main reason I chose them was because they were the all- around biggest online job website company in the country and the fourth biggest in the world, thus without a doubt making them my biggest competition. But there are some differences between Indeed and Craigslist that I think are important to consider when identifying strengths and weaknesses within each other’s concepts. Though it‘s position in the market reigns superior, its brand loyalty may not be as strong compared to that of Craigslists’. Indeed is regarded as basically a search engine for jobs whereas Craigslist has evolved into a community where members trust to be able to find whatever they may be looking for, no matter how big or small. As simple as the concept itself may seem, there must be more to how the company has been able to maintain a fair share of the job boards market for decades.
Craigslist seems to have only one direct method of contacting them via their website so in considering this I predict a longer than usual wait-time as all inquiries are sorted from one channel. In the event that I do get through to someone who can give me some industry insights on what to expect as a new player within the similar market, I have prepared a few questions to ask below:
1) How have you seen your demographics change throughout the years in regards to the job board activity? What do you predict caused this change, if one exists?
2) What are some company initiatives taken to adapt to this change in target market throughout time?
3) What are your predictions for the future, as far as target market base? How do you plan on keeping current users happy and/or attract new ones?
With these questions I hope to further understand how my potential initial target market may change and to what extent. I’m looking forward to hearing from a representative from Craigslist but in the case that I do not, the next company I will be contacting will be Indeed as I believe there is still valuable wisdom to be learned from this company.
CL may not respond, who knows. Can you find a startup going after the same gig-economy space? It doesn’t have to be the biggest or most direct competitor in your case because as we discussed questions yesterday, you can use the broad ones to nail down the market/customer base. I gave you some options in the assignment so cast a wide net. Also, “Drum” is a startup that might be easier to get a hold of – different target audience it seems but maybe they have some insights?
Thank you for the feedback, Professor. I took your advice and reached out to Drum and other companies as well, large and small. I’m hoping to hear back from someone soon! I figured it may just be best to reach out to as many as I can to increase the chances of hearing back sooner than later.