Strategy
Competitor analysis template
Competitors down the side, the criteria buyers care about across the top.
What it is
A competitor analysis compares you with the other options a buyer would look at. This board puts competitors down the side and the criteria buyers care about across the top, like price, choice and delivery, with a last column for each one's weak spot.
When to use it
- Before you set prices or enter a new market
- When you write a sales page and need to say why you are different
- To prepare the sales team for questions about other vendors
How to run it
- 01
Pick four to six competitors
Include the obvious ones and what customers do instead, like a spreadsheet or doing nothing at all.
- 02
Choose the criteria
Use the reasons customers give for their choice, taken from interviews or reviews. Four or five is enough.
- 03
Fill in facts
Write prices and features you have checked, with the date. Leave a cell empty rather than guess.
- 04
Find the gap
Look for a criterion where nobody is strong. That is where you have a chance to win.
Opens a new board from this prompt:
"Competitor analysis for a new yoga studio in Leipzig, against three local studios and an online subscription"
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