Let’s face it, in business, you have to stand out from the rest. And in this wild west of brands, services, and PPC campaigns, competitive analysis is your secret weapon. Or in simple terms, if you don’t know what your competitors are up to, how on earth are you supposed to beat them?
Fear not. Whether you’re an eager startup founder or a seasoned marketing sage, we’ve created a useful guide to help illuminate the process.
Quick links
Identify your real competitors (not just the shiny ones)
First things first, know who you’re actually competing with. Your competitors aren’t just the obvious big dogs hogging the SERPs (search engine result pages). Sure, Coca-Cola is technically a competitor if you sell drinks, but unless you’ve got a £500 million ad budget and a Santa Claus endorsement, let’s focus on someone closer to your league.
Types of competitors:
- Direct competitors: sell the same thing to the same people – e.g. two vegan burger joints on the same high street!
- Indirect competitors: different product, same customer need – e.g. vegan burger vs falafel wrap.
- Aspirational competitors: the ones you want to compete with once you’ve hired three more people and stopped using Excel as a CRM.
Stalk their online presence (in a totally legal way)
Now the real fun begins. Time to don your virtual trench coat (or Detective Columbo’s mac) and dive into your competitors’ digital footprint.
Website
Check their layout, speed, messaging, blog content, and overall vibes. Ask yourself:
- Is their tone more formal or friendly?
- Are they making strong CTA’s (calls to action) or just whispering into the void?
- How many pop-ups before you want to chuck your laptop?
Social media
What platforms are they using? How often do they post? Are people engaging with their content or ignoring them like an ego flex post on LinkedIn?
Email marketing
Sign up to their newsletter. Yes, really. Create a “spy inbox” subfolder if you like. See what they’re sending, how often, and if it’s more inspiring than your content – be honest with yourself if it is!
Analyse their SEO and keywords (get nerdy with it)
Let’s not pretend SEO is sexy, but it is absolutely essential.
Use tools like SEMrush, Ahrefs, or the ever-faithful Ubersuggest to figure out:
- what keywords they’re ranking for
- how much organic traffic they’re getting
- where their backlinks are coming from
Then compare it to your own site. If they’re dominating “best organic coffeehouse in Sheffield” and you’re nowhere to be seen, it might be time to revise your strategy – or at least spell frappe correctly.
Also, look at their content. Are they blogging regularly? Do they have guides, how-to’s, or downloadable freebies? Content is currency in the digital world. And frankly, blogs that don’t read like a sedative are rarer than a low-calorie Greggs pasty. Mmmm, Greggs…
Evaluate their branding and positioning (are they cooler than you?)
Branding isn’t just logos and Pantone swatches, it’s the gut feeling customers get when they see your stuff. Or your competitor’s stuff, in this case.
Take stock of:
- their tone of voice
- taglines and brand story
- visual identity
- customer reviews and testimonials
Do they come off as the suave James Bond of the industry, while you’re putting out Mr Bean? No shame, but it’s a sign to tighten up that messaging and maybe stop using Comic Sans. Seriously, Comic Sans, can we all just not?
Dive into their pricing and offers (politely copy, but better)
Never checking your competitors’ pricing makes it tough to demonstrate your value.
- Are they charging more or less than you?
- Are they bundling services? Offering discounts? Referral schemes?
- Is there a “free trial” you can
exploitexplore to understand their onboarding process?
You don’t need to race to the bottom. But knowing the playing field helps you pitch smarter.
Do a SWOT analysis (yes, it’s still a thing)
Old school? Maybe. Effective? Absolutely.
Once you’ve gathered all this juicy intel, pop it into a SWOT grid for each main competitor:
- Strengths: What do they do better than you?
- Weaknesses: Where do they fall short?
- Opportunities: Where can you outperform them?
- Threats: What risks do they pose to your growth?
Put it all together (then actually do something with it)
Congratulations! You’ve now got a treasure trove of insights. But don’t just let it sit in a dusty Google Doc no one ever opens.
Use your analysis to:
- sharpen your USP (Unique Selling Point)
- refine your marketing messages
- improve your services or products
- plan content your audience actually wants
And most importantly, stay updated. Competitors change, algorithms shift and trends come and go. Revisit your analysis quarterly or whenever a new player enters the scene.
Final thoughts: stay classy, stay curious
Conducting a competitive analysis isn’t just about copying what others do. It’s about understanding the landscape so you can zig when everyone else zags. Or at least avoid launching a beige brand in a neon market.
So go on, it’s time to start your (entirely ethical) reconnaissance mission. Your brand will thank you. And your competitors? Well, soon they’ll be watching what you do next. Need help with your own competitive audit or marketing strategy? Give us a shout. We promise not to judge your current font choices.
