We probably don’t have to tell you the benefits of doing a competitor analysis, but we do have some tips for doing them!⁠
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1. Conduct them on a routine basis, not just when starting your company. Doing them every year (or two) allows you to spot new industry trends and get ahead of any potential disrupters.⁠
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2. Analyze your competitors’ messaging! Many times companies analyze competitors products/services’ features, price, customers, and sales strategy, but what is often forgotten is their messaging. But you should also be sure to look at…⁠
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– How are your competitors talking about their offerings⁠
– What terminology do they use?⁠
– What’s their tone?⁠
– Take note of HOW they describe their company AND their offerings so that you do not use the same language and can craft unique descriptors that differentiate your brand and your offerings so that you stand out!⁠
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3. Think ahead to how to win and WHY the potential customer should choose you over someone else. Then make sure to work those “why” reasons into your marketing messaging.

Get the link to download our template here:

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