Often in the pitch deck, there is a slide on Perceptual Mapping
Never have I received a deck where any other competitor is placed better off than the proposing company. It is important to note that as the name suggests its “perception”.
Perceptual Mapping without corresponding data points does not render any information. It is there only from aesthetic point of view. A holistic and true picture shall be delivered to the investors only when
Believing, reinforcement on investors’ belief can be achieved by presenting positive aspects is a myth, indeed it backfires as it shows entrepreneurs ignorance to existing competition. As it is often quoted “Keep your friends close and foes closer”, if you do not know your competition well, how will you stride to defend yourself and out run them?
Thus competitive mapping should be done in a detailed manner using under mentioned models alongside perceptual mapping
Illustration Credit: https://www.business-to-you.com/porters-five-forces/
Illustration Credit: https://www.business-to-you.com/scanning-the-environment-pestel-analysis/
As the enterprise grows relevance of each model increases. Though, consideration of all the models is relevant at each point of time. Thus a practice of keeping an eye out on the factors in the above models is necessitated to plan ahead and defend the current stand.
From investors’ perspective it shows how informed & well equipped the entrepreneur & the organization stands.
Next time you prepare a pitch make sure to include only relevant, appropriate, comprehensive & unbiased data from the fore mentioned models.