Chris Mendez in For Managers, Startups

How to create a competitive analysis

Competitive Analysis

Goal

  1. Review current competitors and list our their strengths and weaknesses. What do we want to imitate, what do we want to avoid?

  2. Afterward, we will review a list of inspirational websites that we believe will help us move past our competition. This inspirational websites do not have to be rooted in the same industry as the competitors.

Game Rules

Every participant is assigned 5 websites or companies to study beforehand. These companies represent entities they believe are either industry leaders, actual competitors, or incumbents within their industry.

During the follow-up meeting, each participant will drop a screenshot of the website/company they reviewed. They will describe what they like (or dislike) about the screenshot. One the person is done, the next person proceeds until all of the companies are evaluated.

Competitive Analysis Review

Company 1

Strength  
1. 

Weakness  
1.  

Company 2

Strength  
1. 

Weakness  
1.  

Company 3

Strength  
1. 

Weakness  
1.  

Company 4

Strength  
1. 

Weakness  
1.  

Company 5

Strength  
1. 

Weakness  
1.  

Inspirational Website Review

Company 1

Strength  
1. 

Weakness  
1.  

Company 2

Strength  
1. 

Weakness  
1.  

Company 3

Strength  
1. 

Weakness  
1.  

Company 4

Strength  
1. 

Weakness  
1.  

Company 5

Strength  
1. 

Weakness  
1.  

Things to Consider when studying a website

There are many ways to evaluate a website but here are a few key things to look for:

  1. Is the website focused on serving a specific age?
  2. Is the website focused on serving a specific gender?
  3. Is the website focused on serving a specific place or region (ex: city, county, state, province, country?)
  4. Does the website hold special or unique partnerships or relationships?
  5. Does the website promote unique people such as popular celebrities, influential figures our powerful industry players?
  6. Does the website celebrate or focus on company culture?
  7. Does the website contain