Competitive analysis is an essential part of any business strategy—especially when you’re launching a new product or service. It’s the process of researching your competitors and understanding what they have to offer so that you can stay ahead of the game.
ClickUp's Competitive Analysis Template does just that and more! This template helps you:
- Identify strengths and weaknesses of your competitors
- Gain a better understanding of the industry landscape
- Develop smarter strategies for staying ahead of the competition
Whether you’re launching a new product or growing an existing one, ClickUp's Competitive Analysis Template gives you the necessary tools to make sure your success!
Benefits of a Competitive Analysis Template
Competitive analysis templates can give you a leg up on the competition. Benefits include:
- Gain a better understanding of the competitive landscape and identify potential threats
- Uncover opportunities for growth and expansion
- Develop strategies to differentiate your products and services from those of your competitors
- Improve customer service by understanding customer needs and preferences
Main Elements of a Competitive Analysis Template
ClickUp's Competitive Analysis Template is designed to help you gain insights into competition in the market. This Whiteboard template includes:
- Custom Statuses: Create tasks with custom statuses such as Open and Complete to keep track of the progress of each step in the analysis
- Custom Fields: Categorize and add attributes to manage your tasks and easily visualize the competitive landscape
- Custom Views: Open 2 different views in different ClickUp configurations, such as the Whiteboard and Getting Started Guide so that you can stay up to date on the competition
- Project Management: Improve competitive analysis tracking with tagging, nested subtasks, multiple assignees, and priority labels
How to Use a Competitive Analysis Template
If you want to stay ahead of the competition, it’s important to do your due diligence and create a competitive analysis. Here are 6 steps to help you do that:
1. Identify your competitors
The first step is to identify who your competitors are. Take some time to research other companies in your industry and identify who is offering similar services or products.
Use the Board view in ClickUp to create a list of your competitors and track their activities as they relate to your own.
2. Gather information
Next, you need to gather information about each of your competitors. Collect data on their pricing, services, target market, customer reviews, and any other relevant information.
Create tasks in ClickUp to collect information about each competitor.
3. Analyze the data
Now it’s time to analyze the data you’ve collected and look for trends and patterns. This can help you identify opportunities to differentiate yourself from your competitors and capitalize on any weaknesses they may have.
Create a Doc in ClickUp to visualize the data and analyze the trends.
4. Compare and contrast
Once you’ve analyzed the data, it’s time to compare and contrast the strengths and weaknesses of your competitors. This will allow you to identify areas where you can improve your own services or products.
Use the Table view in ClickUp to compare and contrast your competitors.
5. Develop a strategy
Now that you’ve identified your competitors’ strengths and weaknesses, you can create a strategy to help you stay ahead of the competition. This could include creating a unique value proposition, improving customer service, or launching a new product or service.
Create a Gantt chart in ClickUp to map out your strategy and set milestones for each task.
6. Monitor the competition
It’s important to keep an eye on your competitors and be aware of any changes they make. Set up automated tasks in ClickUp to notify you when your competitors make changes to their pricing or launch new products or services. This will help you stay ahead of the competition and adjust your strategy accordingly.
Get Started with ClickUp's Competitive Analysis Template
Marketing professionals can use this Competitive Analysis Template to help everyone stay on the same page when it comes to comparing performance and analyzing competitors.
First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.
Next, invite relevant members or guests to your Workspace to start collaborating.
Now you can take advantage of the full potential of this template to create a successful competitive analysis:
- Use the Whiteboard View to brainstorm ideas and create a plan of action
- The Getting Started Guide will provide you with helpful tips and resources to get you started
- Organize tasks into two different statuses: Open and Completed, to keep track of progress
- Update statuses as you progress through tasks to keep stakeholders informed of progress
- Collaborate with stakeholders to compare your business to competitors and identify areas of improvement
- Monitor and analyze tasks to ensure maximum productivity
- Perform regular reviews to ensure that the competitive analysis is up-to-date