Competitive analysis is a process of systematically and periodically tracking your competitors in order to stay relevant in the market. Performing competitive analysis is imperative as it can help you strategize and plan your business growth so you can stay on the cutting edge.
Infinity’s Competitive Analysis template could be exactly what you need to highlight what makes your business different and keep it buttoned up. Use it to:
- Build detailed profiles of each of your rivals,
- Analyze market share,
- Rank your competitors’ unique features, ease of use, quality, or any other attribute that matters to your customers,
- Let the numbers do the talking and display metrics in an easy-to-digest way,
- Help your sales and marketing teams create strategies that will position your offering as the better solution compared to your competitors’ solutions.
Benefits of Using Our Competitive Analysis Template
- Capture a wide range of information about your competitors’ products, organization, and customers,
- Create a weighted scoring approach so you can see where your business stands compared to where your competitors are,
- Identify opportunities that can help you gain a competitive advantage,
- Ultimately, you’ll figure out many ways to serve your customers better than your fellow competitors.
How to Use This Template
- Load the “Competitive Analysis” template from our Templates gallery or directly from your workspace and visualize all your competitors in a single view,
- Fill out the “Competitors” folder with all the info you may need about their customers (their website, market share, products or services, and other relevant stuff),
- In the “Products” folder, you can collect info about your competitors’ products, write down specifications, average prices, rank their ease of use, performance, connectivity, or whatever matters the most to you,
- This way, you’ll have all the key players in the market in one place, assess their weaknesses and strengths, so you can find ways to position yourself higher and gain more customers.
This Competitive Analysis Template Best Works With:
Why do I need a competitive analysis template?
A competitive or competitor analysis template, once you feed it with data, after doing a thorough research, can give you a detailed review of what your competitors are doing right and wrong and help you discover potential opportunities for your business to grow.
What should a competitive analysis template include?
A competitive analysis template should include a list of your direct competitors, products they sell or services they provide, their prices, and market information inter alia.
What is the best competitive analysis template out there?
Smartsheet, Miro, and Infinity have built amazing competitive analysis templates. You can use Infinity’s competitive analysis template as a product competitive analysis template and/or competitive pricing analysis template as well.