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Competitor Analysis Template

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Competitor Analysis Template

Competitor analysis template

When looking for an app idea, it's not like you have to come up with a completely new solution that will revolutionize the market.

Sometimes, you just need to look at existing products and build a slightly different app that will help your customers solve their problems in a bit better or more convenient way to get traction and make your project successful. That’s what competitive analysis is all about.

Introduction

An in-depth research of competing apps will help you find flaws in these products and lacks in features, and get to know their audience needs. Basically, if you want to be well prepared to run your software project and have a good chance of success, you need to do the competitive analysis.

Get our competitor analysis template for free — it will help you stand out from other companies, understand the market and hit it with your product!

How to do the competitive analysis

To do this, download and print the competitive analysis template we prepared for you, grab a pen and fill the information! It would be best to compare at least 4 different competitors' products.

Task number 1: prepare the competitors list!

  • App name — name of the competitor's product
  • Target audience — who are they trying to reach with their app? Who are their customers? What does their user persona look like?
  • Value proposition — what value does their app promise to deliver to the users? Why should their clients choose to purchase their product?
  • Business model — what is their plan for making a profit? What monetization strategy have they chosen?
  • Feature gap — what features are missing in your opinion and in comparison with other similar apps?

Task number 2: do the features comparison.

Let's break down the competitors' products. What features can you find in these apps? What are the core functionalities?

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