Competitive Analysis (Examine your competitor’s website & customer…
Examine your competitor’s website & customer experience
How solid is their product photography? How do they display their products and help communicate details?
How detailed are their product descriptions? What information do they include? What information is missing?
Where are their calls to action throughout the online shopping experience? Are they obvious or do they get lost due to a poor color scheme or positioning?
Are they trying to build an email list with a newsletter sign-up prompt? How prominent is it?
Where are their social media icons positioned?
Do they have a blog? How frequently do they post? What type of information do they tackle?
Is their site optimized for mobile?
What methods for contact do they offer? Do they have limited hours for phone support?
How long does it take them to respond to email, live chat and contact form submissions?
Do they have an abandoned cart saver feature? If so, at what cadence do they send the emails and what messaging is included?
What information is included in their marketing banners and callouts? This may help you start uncovering their competitive positioning within the market.
How frequently are they running promotions? What benefits do those promotions provide to their customers and potential shoppers, as well as their business?
Review social media
What is their social media presence like overall?
Which social media channels do they use the most?
How do they speak with their client base?
How often do they interact with their following?
How frequently do they post something new?
Which social media channels are they missing? Is there opportunity for you there?
What are they posting?
What percentage of posts are about their business?
What percentage is solely meant to increase engagement or gain followers?
Find Your League
Share of voice
Categorize your competitors
: These are your direct competitors, which means they’re either targeting the same audience or have a similar product — or both.
: These competitors may offer a high- or low-end version of your product, or sell something similar to a completely different audience. If you’re selling Timex watches, a secondary competitor might be a Rolex retailer.
: This category includes businesses that are tangentially related to yours, and really comes in handy when you’re looking to expand your product catalog. These could be related products and services that are trending, as well as businesses that may be beneficial to partner with further down the line. For instance, if you sell jewelry, a tertiary competitor may sell gems and stones.
Identify your competitor’s market positioning
What are customers really buying from them? Are they going for price? Experience?
How are they differentiating their product from their competition? What features and benefits do they highlight the most in their marketing copy?
What makes their product or service unique (according to them)?
Take a peek at pricing
Take a temperature check with reviews