How to create a competitive analysis report
Posted: Wed Jan 22, 2025 8:55 am
A competitor analysis report should your teams a clear picture of austria b2b leads what the business is up against and the necessary strategies to get ahead.
Follow these steps to create an effective competitive analysis report:
Have a clear objective for your report
Since competitive analysis serves every aspect of your business, it can quickly become overwhelming. Outline it at the beginning of your document to clarify your goals and objectives. This will keep you and your report from getting lost in the vast amount of data you’ll uncover.
Do you want to investigate every aspect of your competitors and create an all-encompassing report? Or are you interested in specific areas like their sales and marketing strategies? Your objective will guide your research and direct the format for the report.
Identify your main competitors
Once you’re clear on the “why”, outline the competitors you must outperform to gain the upper hand in the market.
You can identify these competitors by speaking to your sales team or leaning into customer feedback. Alternatively, you can use competitive monitoring and social listening to learn what other companies your audience is interested in.
It’s also important to identify your SEO competitors as they can sometimes differ from your business competitors. You can find SEO competitors by using keyword research tools to check who’s ranking for your target keywords.
Conduct in-depth market research
The next step is market research to gather and organize information about your competitors, customers and industry.
Follow these steps to create an effective competitive analysis report:
Have a clear objective for your report
Since competitive analysis serves every aspect of your business, it can quickly become overwhelming. Outline it at the beginning of your document to clarify your goals and objectives. This will keep you and your report from getting lost in the vast amount of data you’ll uncover.
Do you want to investigate every aspect of your competitors and create an all-encompassing report? Or are you interested in specific areas like their sales and marketing strategies? Your objective will guide your research and direct the format for the report.
Identify your main competitors
Once you’re clear on the “why”, outline the competitors you must outperform to gain the upper hand in the market.
You can identify these competitors by speaking to your sales team or leaning into customer feedback. Alternatively, you can use competitive monitoring and social listening to learn what other companies your audience is interested in.
It’s also important to identify your SEO competitors as they can sometimes differ from your business competitors. You can find SEO competitors by using keyword research tools to check who’s ranking for your target keywords.
Conduct in-depth market research
The next step is market research to gather and organize information about your competitors, customers and industry.