DESIGN
Research and Discovery
Analyze Competitors
Competitive analysis identifies what similar products do well and where they fall short, providing insights to differentiate your product.
Why it's Important
Highlights gaps in the market to exploit.
Reveals industry best practices.
Prevents repeating competitor mistakes.
How to Implement
Identify Competitors: List direct and indirect competitors.
Evaluate Features: Compare competitor features, usability, and design.
Analyze Market Positioning: Assess their messaging and branding.
User Feedback Analysis: Read competitor reviews to learn from user experiences.
Benchmarking: Evaluate performance metrics like pricing, traffic, and engagement.
Available Workshops
Competitor SWOT Analysis: Identify strengths, weaknesses, opportunities, and threats.
Feature Matrix: Compare competitor features and gaps visually.
User Reviews Workshop: Analyze competitor reviews to extract actionable insights.
Reverse Engineering Exercise: Map out how a competitor’s key feature works.
Differentiation Brainstorming: Identify areas to stand out.
Deliverables
Competitive analysis report.
Feature comparison matrix.
Opportunities and gaps summary.
How to Measure
Completeness of competitor data collected.
Identification of unique value propositions.
Stakeholder alignment on differentiation strategy.
Real-World Examples
Instagram vs Snapchat
Instagram leveraged competitive insights to develop Stories, directly competing with Snapchat.
Google Chrome: Identified usability gaps in browsers like Internet Explorer and created a faster, simpler product.
Zoom
Outperformed competitors by focusing on reliability and ease of use for video conferencing.
Get It Right
Research both direct and indirect competitors.
Focus on user sentiment in reviews.
Keep competitive analysis updated.
Collaborate with cross-functional teams for input.
Use insights to shape both short-term and long-term strategy.
Don't Make These Mistakes
Ignoring indirect competitors.
Blindly copying features without understanding user needs.
Overlooking competitor weaknesses.
Relying on outdated analysis.
Underestimating emerging competitors.