Competitive Analysis Template
Identify the competitive landscape and your company’s relation to it.
About the Competitive Analysis template
The Competitive Analysis template is where you will analyze and evaluate the competitive landscape for products, services, and companies.
With a simple competitive analysis template, you will be able to answer these questions:
Who are the other companies you’re competing with?
How does your product or service compare?
What makes you stand out?
What are your competitors doing well that you can learn from?
Keep reading to know more about the Competitive Analysis template.
The benefits of the Competitive Analysis template
When you use a Competitive Analysis template, you will gain knowledge that can inform your product, marketing, sales strategies, and potentially your business strategy for the future.
By conducting a competitor analysis, you can learn about the market, what’s working and not working for your customers or potential customers, and where there are areas of opportunity for your company.
When you use Miro’s Competitive Analysis template, you will be able to see everything in one shared space, where you can easily make notes, add stickies and invite your team to collaborate in real-time or asynchronously.
How to use the Competitive Analysis template
There are many different Competitive Analysis examples, and you may want to perform one for each use case. For instance, you can do one for your digital marketing strategy, one for your website, and one for in-person events, to name just a few.
You may want to make adjustments to the Competitive analysis template depending on the specific use case, but here are a few common elements you will have in all of them:
Step 1: Start by filling out your company information.
You may wish to include some high-level information about your company, such as your mission, values, value proposition, etc., as well as an overview of your main competitors.
The competitors you list here will often be your direct competitors who offer a comparable product or service.
Step 2: Describe your product/service information.
This can include various price points of your main offerings and your channels to acquire new customers. If you know this information about your competitors, you can list it here, too.
Step 3: Gather information about the market.
This may include your percentage of market share (and the respective percentages of the competitors you’ve listed), your competitors’ social media and web presence, and how your company is positioned in the market.
Step 4: Perform a SWOT analysis.
Determine your strengths, weaknesses, opportunities, and threats in comparison with the competitors you’ve identified.
Step 5: Define your competitive advantage.
With all the information you’ve gathered in the previous steps, you can now define your competitive advantage.
What areas separate you from the competition, and how can you continue to make the most of them?
What is a competitive analysis template?
A Competitive Analysis template is where you will map out your competitors and gain insights regarding their capabilities. That way, you will know how to set yourself apart and improve your market share and customer experience. There are many Competitive Analysis examples out there, and Miro’s template is easily editable, and you can build it according to your needs. Last but not least, it’s 100% free.
What is an example of competitive analysis?
There are many competitive analysis examples you can use to improve your business competitiveness. For example, you can only create a competitive analysis template for your digital marketing strategy or do a competitive analysis before a product launch. Miro’s competitive analysis template is easily editable, and you can use it according to your needs. Try it out and gain valuable insights!
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