A competitor analysis is a helpful tool to take a more in-depth look at the landscape of your market. Comparing your company or service with others will help your team to make a better strategy, deliver a more efficient plan business growth and have a clearer vision of the upcoming events in your organization.
Make sure to define what exactly will you be comparing and whether or not this information is available to the public. Social media and online tools will be of great help when gathering all the information necessary. Stay up to date with the existing and new tools to get all the data that you need.
How to fill out your Competitor Analysis Template…
A competitor analysis needs to be adapted to its audience. You will not use the same words or terms if it is directed to your team members or if it is for potential investors. Some viewers will have a better understanding of certain terms than others. So before starting, make sure you define how you are going to talk, which language and style will be employed to analyze your competition and strategy.
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