Competitor Analysis Template Free Download

What Is A Competitor Analysis Template?

A Competitor Analysis Template is among the most valuable business-related tools that help companies to know their niche, improve strategies, and outperform competitors. Competitor analysis provides you with the focus required to make informed decisions whether you are introducing a new product, redefining your brand, or expanding your operations.

What Are The Key Components Of A Competitor Analysis Template?

The properly made template consists of all the essential items needed to learn more about competitors. Common sections may include:

• Competitor Analysis: Competitor size, history and ownership, product lines.
  
  

• Market Position: Target audience, segmentation and geographical coverage.
  
  

• Product and Services Comparison: Testimonials, Pricing model, quality, and Unique selling points.
  
  

• Marketing & Branding Strategy: web presence, social media presence, the tone of communication, and brand name.
  
  

• Financial Performance metrics: Turnover, growth curve, rounds of financing, clientele (where applicable).
  
  

• SWOT Summary: It will emphasize the strengths, weaknesses, opportunities, and threats of the competitor.
  

The presence of a template will enable the businesses to collect information in a regular manner and without leaving out important information.

How To Identify Direct And Indirect Competitors?

Not every competitor looks identical and a good template will lead you to distinguish between the direct, indirect and upcoming competitors.

• The direct competitors will provide the same products to the target market.
  
  

• The indirect competitors can resolve a customer problem differently.
  
  

• The new entrants are new ventures or startups that may cause an upheaval in your territory.

Why Is Understanding Customer Perception And Reviews Important?

The feedbacks of customers are priceless in measuring the performance of competitors. They provide the worldly experiences, frequent grievances, and the things that the customers value the most. With the help of a template, companies will have the opportunity to systematically gather insights within the feedbacks of customers who post online on Google, Trustpilot, G2, or social media. These insights tend to point out the weaknesses in competitor offerings-weaknesses that you can fill to attract more customers.

Conclusion

Competitor Analysis Template is a vital strategic tool of any business that seeks to have clarity, direction and a competitive advantage. By sorting out the in-depth knowledge into a systematic framework, it allows you to take a clear analysis of your competitors and to reveal where you can expand.