Competitor Analysis:
Spotting Opportunities to Stand Out

Competitor analysis isn't just about knowing who else is in the market—it's about finding ways to make your brand stand out. This guide will take you through practical, actionable steps to identify your competitors, uncover their strengths and weaknesses, and use these insights to position your brand as the go-to choice for your audience.

Step 1: Identify Your Real Competitors

Start by figuring out who your competitors are. Think of businesses or individuals offering products or services similar to yours. If you're unsure, do this:

• Search for Your Product/Service Online

Type keywords you associate with your brand into Google. For example, if you're starting a natural skincare line, search for terms like "organic skincare," "natural face creams," or "chemical-free moisturisers." The top results are likely your competitors.

• Check Where Your Audience Goes

Visit forums, Facebook groups, or Reddit communities related to your industry. Pay attention to brands that people recommend, discuss, or complain about.

• Look at Social Media Tags

Search hashtags or keywords on platforms like Instagram, TikTok, or Twitter. You've seen competitors if you find accounts or brands consistently posting about your niche.

Step 2: Study Their Presence

Once you've identified your competitors, it's time to consider what they're doing. Focus on these areas:

• Website Design and Content

Visit their websites and note the design, language, and messaging. Is their tone formal, friendly, or casual? Look at their blog or FAQ sections to see how they engage with customers.

• Social Media

Scroll through their social media profiles. How often do they post? What content gets the most engagement (likes, comments, shares)? Pay attention to their hashtags and how they interact with followers.

• Customer Reviews

Check platforms like Google Reviews, Yelp, or Amazon (if they sell products there). Reviews often reveal what customers love or hate about their experience. For example, are they praised for fast shipping but criticised for poor packaging?

Step 3: Spot Gaps in Their Strategy

Now that you understand what your competitors are doing, look for areas where they fall short.

• Are They Ignoring a Segment of the Market?

If your competitors only cater to premium buyers, consider targeting budget-conscious customers. Alternatively, if they focus on younger audiences, explore how you can serve older demographics.

• Is Their Messaging Outdated or Generic?

You might notice competitors using tired phrases like "best in the business." Craft messaging that feels fresh and authentic, highlighting your unique story or values.

• Are They Lacking in Personalization?

Many brands don't personalise their communication. You'll stand out immediately if you can create content or experiences tailored to individual customers.

Step 4: Learn from Their Strengths

Competitor analysis isn't just about finding flaws but also recognizing what works well.

• What Are They Doing Right?

For example, if a competitor's Instagram is thriving because of consistent Reels with helpful tips, think about how you can create similar content with your unique spin.

• What's Their Hook?

Is there a standout feature they emphasise, like "handmade" or "delivered in 24 hours"? Don't copy it—find your version of a unique selling proposition that sets you apart.

Step 5: Analyse Pricing and Offers

Pricing is a critical part of your strategy. Look at what your competitors charge and what they include.

• Are They Too Expensive or Too Cheap?

Position your pricing strategically. If they're too expensive, consider offering a slightly lower price with equal or better value. If they're too cheap, emphasise premium quality.

• Do They Run Promotions?

Track how often competitors offer discounts or bundles. If they rarely do, this could be your opportunity to attract customers by promoting seasonal or limited-time offers.

Step 6: Use Tools for Deeper Insights

Leverage free and low-cost tools to gather even more data.

• Google Alerts: Set up alerts for your competitors' brand names to stay updated on their activities.
• SimilarWeb: Analyse their website traffic and audience demographics.
• Social Blade: Track growth metrics on social media platforms.

These tools can help you uncover trends that might not be immediately visible.

Step 7: Position Your Brand

With all your information, it's time to make your brand stand out.

• Combine What You've Learned

If competitors excel at product design but are weak at customer service, emphasise your outstanding support. If they use stock images, invest in authentic, personalised visuals.

• Refine Your Pitch

Use your insights to craft a message that directly addresses gaps in the market. For example: "Fast, personalised service for eco-conscious customers tired of generic skincare."

• Track Your Progress

Competitor analysis is ongoing. Regularly revisit your findings to ensure you're staying ahead of industry trends and customer expectations.

Competitor analysis isn't just a one-time activity—it's a tool for constant improvement. By identifying what your competitors are doing and finding opportunities to stand out, you'll position your brand for long-term success. Follow these steps, adapt them as you grow, and watch your brand carve out its unique space in the market.