A competitive analysis is a way to collect and compare data about products (and companies) in the marketplace. This method is often used to highlight strengths and weaknesses of products in order to make more informed decisions about your product strategy. A typical competitive analysis might include information, such as:
- An overview of the product landscape (products, companies, prices, market share, etc.)
- User demographics
- Lists of product features
- Social media presence (followers, posts, etc.)
- Evaluation of visual design language
- Voice, language, and content
- Understand the general landscape in which your product will compete
- Compare your product’s unique qualities against the competition
- Identify possible user types
- Compare visual and language styles
- A competitive analysis tells you what exists, not why it exists. For example, you might have a long feature list, but you won’t know which features users value and use the most.
- Be thorough in your list and include direct AND indirect competitors.
- Don’t let it go stale. It should be a living document that updates as the market changes to include new competitors.
- Supplement your analysis with primary research. For example, conduct research with target users who currently use other products to determine what products they use and why.
- How to Conduct and Prepare a Competitive Analysis by Edward Lowe Foundation
- UX Strategy: Conducting Competitive Research by Jaime Levy
- How to Check Out the Competition by Sarah Khan
- 10 Competitive Analysis Tools: How to Analyze Competitors Websites by Andy Crestodina
- Become a Better Design Leader with Competitive Analysis by Margaret Kelsey
- Conducting a Solid UX Competitive Analysis by Danforth Media
- How to Take an Audience-First Approach to Competitive Analysis by India White
- How to automatically track your competitors by Airtable