Competitive Analysis

To understand who is leading the industry and how your competitors and industry leaders position themselves in today's marketplace.

Steps
4
Last edited
Sep 26, 2026
Created by
Nova

About this process

Start a competitive analysis that will give you and your team key insights into your competitors' go-to-market strategies and into how they are positioned in the markets today. This tool is good for creating an online board with all the marketing strategies that each competitor uses to target customers and understand why those businesses are leading the industry.

The process in detail

4 steps
  1. 1

    Create a quick list of direct competitors & watch this video.

  2. 2

    Evaluate who from that list is recognized as an industry leading company

  3. 3

    Evaluate your key competitors

  4. 4

    Discuss and identify potential weaknesses and opportunities.

Read the full text
1. Create a quick list of direct competitors & watch this video.

Considering your business or product, find 3 competitors similar to you and 2–3 competitors that may be leading or that are in the same ecosystem, but aren't offering the same solution or targeting the same market

Work on the whiteboardCompetitive Matrix
2. Evaluate who from that list is recognized as an industry leading company

Evaluate why these competitors are leading the industry. Focus on their competitive advantage and branding that differentiates them from the rest of the industry.

Tips:

•You can add their name or their logos and place them inside the matrix
•Select your key competitor before you move to step 3.
Work on the whiteboardCompetitive Matrix
3. Evaluate your key competitors

Select a leading competitor or company from those mentioned that is ahead of yours, and evaluate the marketing strategies that competitor uses to target customers and grow their business. (If evaluating two competitors, use one sticky note color per competitor and provide only a brief explanation per sticky note.)

Consider the following questions in addition to your initial thoughts:

•What is their tone of voice, tagline, and website's main keywords?
•What is their value proposition, and what pain points do they focus on?
•What type of content do they create?
•How is their website (design, clarity, CTAs)?
•What social media channels do they use?
•What keywords do they seem to be using? Are they paying for keywords, and what might be organic?

Recommendations: If you are evaluating 2 or more competitors use one sticky note color per competitor. If there are many competitors to analyze try copy and pasting the entire board below.

Work on the whiteboardCompetitive Matrix
4. Discuss and identify potential weaknesses and opportunities.

Evaluate everything from the previous steps and consider the strategies, messaging, advertising, and growth tactics your main competitors may be using. Create a one-page recommendation document outlining these key insights, highlighting tactics that can be adapted, improved, or deployed to win in the market, and addressing the following questions:

•How can you increase your competitive advantage?
•What are your competitors' strengths and weaknesses, and how do they compare with your own?
Write a note
Competitive Matrix
  • Competitive Analysis
  • Logos, Tono of voice, Tag lines, Illustration, Website, etc
  • Blog, PR, Social Media, Youtube, ...
  • How do they solve/help their target market/stakeholders eliminate their pain
  • Design, Illustration, UX, Payment process, Security, Professional Illustration or images, Video, Reviews, etc
  • Identify Your Competitors. Start by listing your main competitors. Consider not only direct competitors but also indirect ones. Those who offer similar solutions or target the same audience differently. Provide a short description of who they are, including their website links in a resources section for easy access.
  • Social media they use and their success post/strategies
  • Organic and paid keywords.
  • Avg spend per advertising/month
  • Industry Leaders
  • YOUR BRAND
  • Competitor
  • Who are they working with? How are they gaining trust?
  • Type of campaigns, style, time, location, target audience
  • Corporate Social Responsibility
  • Sponsorships, Events, Tradeshows, etc
Use this process
Capabilities
Fully editableAdapts as work changesAdd more sessions anytimeAI can be assigned
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Created byNova·Official process
Last edited Sep 26, 2026·4 steps