Here are the steps you need to take to get started: Step 1: List Your Competitors Start by listing at least three of your main competitors. SEO analysis reveals what keywords and approaches work, both for you and your competitors, and which campaigns should receive focus. Do their products meet the needs of the consumers? Definition 2. Target audience information prepares you for when customers leave your competitors. Look no more, we have 100% customizable, easily editable, and printable documents. Otherwise, competitive analysis is just an exercise. A competitive analysis is the process of identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to your own business, product, and service. Competitive analyses, which should be conducted periodically, can help you strategize and plan for company growth by discovering opportunities and threats. Competitive analysis puts a spotlight on the strengths and weaknesses of competing organizations as well as your own. SWOT stands for strengths, weaknesses, opportunities, and threats. Company Profile 6. You can easily conduct market research sessions and find out all the companies that are producing products, services or both as per your production and service array. They believe you should focus on your own market share. Focus on the facts. You can ask different people who have bought their products and services and you can make an analysis of your competitor's strategies. It can also ensure that analysis is consistent from year to year. Download Competitive Analysis Landscape Template. Background information on a competitor may include the location of their head office, the number of employees, recent acquisitions, Securities and Exchange Commission (SEC) filings, and the names of key staff members. Join us for a re-imagined, innovative virtual experience to get inspired, get connected, and see what's possible. Are they cheap? 1. Business & Company metrics 1.1. Don't worry, these competitor analysis templates will help you with your competitions. Status Quo 3. 1. You need to know your biggest competitors and how your company actually performs in correlation with them if you want always to be one step ahead of the competition.Because of that, we have developed a competitive analysis template as a competitor analysis tool to help you define your position regarding your three biggest competitors. Competitive Analysis PowerPoint template is a free PPT template for business topics that you can free download for presentations. Start by determining who your competitors are, what you think you already know about them, and what you know about your own business. We also offer free, downloadable templates in Microsoft Word, Excel, PowerPoint, and Google Docs formats — all of these templates are customizable so you can include the particular information that’s relevant to your organization and analysis exercise. Particularly if you must present your findings to stakeholders throughout your company, certain additions can expedite conveying your message: Try the following PowerPoint template for company presentations. Most significantly, though, you must actually use the collected data in your new campaign to reap the benefits. Writing a template for your Competitive Analysis will provide for your company information on the workings of your competitors, starting with their identifications, products, strengths and weaknesses. Determine who your competitors are Identify your competitive keywords. It is important to look out for your competitors in order to stay on top of the market. From a media strategy perspective, the analysis of competitor collateral is essential for launching effective SEO-driven campaigns. A detailed review helps uncover potential opportunities. You can also print, email, or share the template with your team. You can research the hierarchy-of-effects theory and scrutinize if your competitors use this theory to get customers to buy their products. So there you have it, Xtensio’s Competitive Analysis Template. To summarize, competitive analysis enables your organization to do the following: Smartsheet is a cloud-based platform that allows teams and organizations to more effectively manage campaigns, helping you to maintain consistency across channels, eliminate silos, and increase visibility. The product and service portion of this section describes the products and services offered. Inspect why their customers are willing to pay for a sum of money to use their products. When to use the Competitive Analysis template Use the competitor analysis template any time you’d like to get a better grasp on where your product or service stands in relation to the market. To save you time (and help you understand what information you should be documenting), we’ve created a handy interactive PDF template, which you can fill in for as many competitors as you need (just use multiple templates). Soon to be by Smartsheet. How do the customers see their services and products? Examine your competitor’s website & customer experience. Look out how they give their services to the customers. An analysis of competitors helps you to better serve customers. Our world-class consulting team is here to help your organization realize the lasting advantage of Smartsheet. Download Small Business Competitive Analysis Template. Be able to come up with different strategies to get the edge over each and every one of your competition. For an entrepreneur/ business person to penetrate whichever market successfully, he or she should always identify their competitors. Do customers react positively or negatively? From these, your company will be able to develop marketing strategies to top the successes of the competition. Use Infinity’s Competitive Analysis template to give yourself an easy overview of your competitor’s products and services, accompanied with all the relevant information. A competitive analysis involves identifying your competition and evaluating their strengths and … What are their marketing methods? Understand the forces that drive them. List them. Understanding the context of social media channels can help you grasp the essence of a target market. Market share is expressed as a percentage of the business that the company owns. Next, describe target markets, products and pricing, media strategies, and perform a SWOT analysis. Enter details on five competitors and rate the applicability of each factor to your business. The sections in these templates are very easy to customize. Want these templates now? … Try Smartsheet for free, today. You can contact people, like journalists and consultants, and ask their opinions about your competitors. Use a competitor’s weaknesses to understand how you can fill gaps to make their customers your customers. There are different types of competitive analyses; these are social media competitive analysis, competitive market analysis, competitive landscape analysis, competitive environment analysis, and competitive analysis report. Look no more, we have 100% customizable, easily editable, and printable documents. Download our competitive analysis landscape template to get ideas for gathering information and reporting analysis results. A competitive analysis is an approach where you find major competitors and research their products, sales, and marketing strategies. A competitive analysis template helps ensure that you store captured information. Highlight the strengths and weaknesses of your own organization, as well as those of your competitors. This template also helps you see how many followers each competitor garners, and prompts you to consider who the product target market includes and what the product branding entails. Complete this template for your own company and then for your competitors. Small business can be competitive. Keep in mind that your actual product or service competitors may differ from your SEO competitors because of paid ads. The Parts of a Competitive Analysis Template, How to Find Market Information to Complete Competitive Analysis Templates, Competitive Analysis Templates for Web and Social Media Analysis, Competitive Analysis Template for Small Business, Competitive Analysis Template for Evaluating Results vs. About the pricing, how much are the products being sold by your competitors? -Less, Unlimited Downloads of 100,000+ Templates, Your template download has started automatically. It is important to analyze the strategies of your competitors to help you with your business. Free your team from content sprawl with Brandfolder, an intuitive digital asset management platform. This template can help you come out on top by walking you through a detailed analysis of what your competition has to offer, from pricing and messaging to how many followers they have on Instagram. 2. Competitive analysis template by Atlassian . Focus on the core problem your business solves & put out lots of content & enthusiasm & ideas about how to solve that problem. For example, LinkedIn is aimed at professionals. Most Common Format You Competitor 1 Competitor2 Competitor 3 Competitor4 Feature1 Feature2 Feature3 Feature4 Feature5. Consider the brand story, and note which social media channels the site supports. ‌ Download Competitive Analysis Presentation Template. Although in the context of marketing, the word “competitive” suggests focus on “the other” (i.e., the rival), many marketing gurus believe that the heart of any marketing activity begins with the customer. In addition to the usual queries about business factors, you may also want a template that reminds you why you are conducting the analysis. Remember this document is super flexible — you’re not bound to use any category the way we have it. Here’s a downloadable Competitive Analysis Template spreadsheet you can use to track your competitors and stay organized as you do your competitive research. It is an analysis of your competitors and comparison of how their strategies relate to your own. Do you want to soar high in the marketing business? You can follow their social media accounts. Use a competitor analysis template for a professional look and feel; The level of detail you include in each section of your competitive analysis report will vary depending on the stage of your business growth and your goals. Visit competitor locations, talk to their customers, look at printed collateral (such as brochures, form mailers, trade shows, newsletters, and bulletins), and talk to your competitors. Competitive analysis (CA) — sometimes called competitor analysis — is a vital process to help businesses stay on the cutting edge and anticipate market changes that they can use to their advantage. While the fields aren’t the same in all of them, the PowerPoint and Word templates are meant to be a summary of the Excel template. When creating a competitive analysis for your small business, you want to conduct a thorough review of all facets of marketing. Competitive Analysis Template Worksheet. Before your start, download the free social media competitive analysis template included at the beginning and end of this article to keep track of your efforts. It is a common market research activity that is performed to identify opportunities and risks associated with strategies such as a new product. Our templates will help you save time. Preview Template Load Template Systematically tracking your competitors’ products and services is imperative to staying competitive. Nevertheless, don’t discount the value of other paths to help you learn about your industry and niche. Where can customers buy their products? See Smartsheet in action. Unique Value Propositions, Approaches to the Presentation of Competitive Analysis Template Data, Improve Your Competitive Analysis with Work Management in Smartsheet. Competitor analysis. Competitive analysis is the heart of every successful business. The goal of the competitive analysis is to gather the intelligence necessary to find a line of attack and develop your go-to-market strategy. Milanote's drag-and-drop interface allows you to arrange columns, notes, lines, links, files, videos and tasks on an infinite virtual canvas. When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. These templates will surely help you avoid stressing yourself in writing your own competitive +More analysis documents. Distribution channel details include information about affiliates, retailers, and wholesalers. You probably already know some of the keywords your business is trying to rank for in the search engines. Create a strong foundation for your business by improving your product offerings where other businesses are lacking. For example, a startup might create a report that focuses on market research, while an established business might dive into detail on an emerging competitor. Laura Fitton, Founder of ONEFORTY.COM 5. This free PPT template for competitive analysis can be used to decorate your presentations about competitors and analysis of competitors in PowerPoint presentations. Templates for Analysis. So it is important to check these areas about your competitors. Beyond meeting financial targets, you need to understand the competitive landscape (short of … They also tend to serve the same market. Analyze all their strengths and weaknesses from location, owners, pricing structure, and all their other activities. The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Are they effective? You can include functional features and non-functional features (such as design or branding) that differentiate your product from competing solutions. The competitor analysis PowerPoint template is a set of amazing data charts that will easily communicate the ingredients of competitive analysis of a business. Conduct thorough research of your competitors' strong points and weak points in their business. Their weaknesses are usually based on the lacking assets and skills needed in the market. A competitive analysis is a statement with the purpose of evaluating your competitor's weaknesses and strengths that will provide you with an advantage in the marketing industry. We don’t want to distract ourselves from customers by obsessing over what competitors are doing or not doing.”. In other words, what’s unique about the product or service that draws customers? analysis documents. So, it’s highly important to find out what your competitors are doing and stay one step ahead. It also enables you to stay atop of industry trends and ensure your product is consistently meeting — and exceeding — industry standards. You may find this especially beneficial when you know a big event such as a new product release or strategic planning session is about to occur. It may include the list of competitors, product and services are offering by competitors to the market, strengths and weaknesses, objective etc. You can use their marketing strategies and apply to yours. Download Competitive Analysis Landscape Template. Don't worry, these competitor analysis templates will help you with your competitions. Above all, using a template guarantees that your primary efforts are put toward gathering and evaluating information, not into deciding what criteria to study and how to format notes. Keyword gap analysis highlights keywords you don’t currently have on your site that rank well for other competitors. Knowing your enemy is the first and foremost tactic in any battle strategy. Don't limit your researches. Simply copy it to your own Google Drive, or you can download the … Potential Competitors 5. These steps will surely help you. Some marketing specialists think that knowing competitor market share is unnecessary. This competitor analysis template is useful for mapping out industries or categories. Our templates will help you save time. A competitive analysis is a vital part of your company’s marketing plan. The risks in the competition which countermeasures can be arranged. Reveal your company’s and your competitors’ strengths and weaknesses, Identify the path to opportunities for increased competitive advantage, Help the entire company to understand the competitive landscape, Contribute to defining your value proposition (that is, help you differentiate from competitors). Step 1. Examine how your competitors sell and market their products. The Asia Pacific says in their article, "According to theory, the performance of a company within a market is directly related to the possession of key assets and skills." COMPETITOR ANALYSIS POWERPOINT TEMPLATE 3. Also, you can assess how well a competitor is achieving their goals based on their apparent positioning. GOALS OF A COMPETITOR ANALYSIS… For example, for online and social media strategy, a template may list all social media platforms and each company’s number of followers.