Competitor Analysis

Why should you use this template?

Observing your competition can be frustrating, though it’s often what we learn from the most. Once you start using methods to systematically analyze and understand your competition, you can gain the upper hand when it comes to understanding your market audience.

Understanding your market audience, and their wants and needs,  is the end goal here. As you’re comparing yourself to others, keep in mind what you’re looking to improve on or how you can gain that upper hand. 

As you make changes to your own web experience, learn what participants already react well to and how you can avoid turning them away. Seeing what parts of an experience do not interest users empowers you to avoid competitors’ mistakes and gain an edge in the market.

 

Test Outcomes:

• Review where participants look first on a competitor’s site
• Highlight what parts of the page catch participant’s eye
• Reveal which elements are most important to their decision-making

 

Organization Benefits:

• A better understanding of how your competitor’s brand is perceived.
• Potential to cross-reference familiarity and intent on your own brand, to better understand future customer behavior.

 

Test Questions

1. Imagine you’ve entered a website for a business marketing and advertising software.
   Click Test
   Gauge where participants will go first on the page. Use a follow-up to understand why participants look at certain elements of a page first.
2. Click on what interests you the most on this page.
   Click Test
   After seeing their initial reactions, learn where participants will center their attention. Use a follow-up again to gain more insight.
3. What elements of this page are Most Important and Least Important when thinking about possibly using this company’s product?
   MaxDiff Question
   Provide a list of the different sections on the page and ask which sections at the ends of a spectrum of importance. This will allow you to validate the most important parts of the experience from the first 2 questions and understand what isn’t working at all.
4. Based on other websites you have seen around advertising and marketing services, how satisfied are you with this site’s offerings?
   Likert Scale
   Now you’ll ask for a direct comparison to other services, and see how satisfied participants are with your web experience relative to others they’ve seen.

For best results, repeat this survey and substitute the visuals of your web experience with that of a competitor, and then compare the findings.

 

Additional Questions

• How does this product compare to others you have used?
• How much would you agree with the following statement? “This content is more valuable than other sources I have seen”
• How well does this product solve issues related to others you have used?
• What is your favorite part of this competitor’s experience?
• How often do you use this competitor’s product?
• How likely would you be to switch to our product from a competitor?
• How likely would you be to recommend our company to a friend?