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Write a Competitor Analysis Report in SmartSuite (Free Template)

Write a Competitor Analysis Report in SmartSuite (Free Template)

10 minutes

June 9, 2023

When it comes to steering your business or product offerings in the right direction, nothing beats a keen understanding of the competitive landscape. That's where a well-executed competitive analysis comes into play. Think of it as deep-dive research into who else out there can tackle the same challenges your business aims to conquer. These could be competitors breathing down your neck or potential allies ready to join forces, but anyhow, knowing who's playing in your market is essential for crafting your strategy.

Competitive analysis is a term likely not new to you, and if you're in the same boat as most, spreadsheets have become your trusty sidekick for these insights. But let's face it, while spreadsheets have their merits, they're not without flaws, especially when it comes to collaboration and referencing data down the line.

Take it from my own experience at Process Driven, earlier this year we delved into competitive analysis, funneling all our findings into—you guessed it—a spreadsheet. And what became of that treasured repository of data? Regrettably... nothing. The spreadsheet turned into a digital paperweight, untouched since its creation.

But today, I'm excited to share with you a tour of SmartSuite and the competitive analysis template that's got us all talking. It's a nifty way to keep your finger on the pulse of your market without falling into the spreadsheet abyss. It ensures your competitive analysis remains dynamic, embedded within your everyday workflow, ready to evolve alongside you and your market.

Getting Started with SmartSuite

Signing up for SmartSuite is a breeze - look for the link in the description and snap up that extra discount from Smartsuite post-checkout. Creating a new solution is your step one, and SmartSuite's got you covered with their intuitive template feature.

+ -> Start with template -> Search -> Competitor Analysis Template -> Use Template

This process is entirely complimentary with your SmartSuite account, free plan included. Click 'Use Template,' and prepare to witness the transformation of your competitive analysis process.

The Heart of the Competitive Analysis Template

Within SmartSuite's competitor analysis solution, you'll find three pivotal apps, akin to databases housing all your research with customizable fields. From company details to specific criteria influencing business decisions, you can tailor fields to match your unique market position, such as niche, target audience, or years in operation.

Custom Field Addition:

+ -> Date -> Add Field -> Founding Date -> Save

As you'd expect, SmartSuite is ready to accommodate your preferences. You might trade a default text area for a Smart Document to jazz up hyperlinks or revamp the layout for better clarity—whatever sails your analytical boat.

Scaling Feature Comparisons

The features comparison app enables side-by-side evaluations of your offerings versus the competition. Branding, reputation, value, pricing – you can scrutinize it all. You can even get granular with specific SaaS product features, comparing, for instance, scheduling capabilities with utmost precision.

Establish clear comparisons and delegate follow-up tasks directly within the app to ensure insights reverberate through your strategy. Gone are the days of gathering data only to leave it unattended. Now, actionable insights are just a few clicks away, ready to inspire real change.

Painting the Market Landscape

The market landscape app empowers you to scope out major sectors and categorize competitors accordingly. The default sector-focused view might not always hit the mark. Navigating to a grid view provides a crisp, collapsible summary that saves time and suits your analytic style.

+ -> Grid View -> Sector -> Collapsed for Speed

With SmartSuite, sectors and their associated opportunities are sketched out beneath your fingertips, forging clear connections between market players and their respective domains.

Wrapping Up with Insights-on-Demand

As your competitive compass is populated with rich details across these apps, it's time to breach internal awareness. SmartSuite ain't shy when it comes to sharing; adjust solution or app-level permissions to suit your collaboration needs. Whether it's your exec team or just the product aficionados, craft the perfect visibility setup to spread awareness company-wide.

Yet let's not sideline external stakeholders—investors, advisors, and consultants alike. SmartSuite answers the call with publicly shareable views that offer a real-time peek into your strategic insights, no Smartsuite account necessary.

Share Icon -> Get Shareable Link -> Toggle Share View

Use these shareable slices of strategy to keep all relevant parties in the strategic loop, ensuring your analysis remains alive, well, and crucially, useful.

In summary, the age of static spreadsheets is behind us. SmartSuite’s competitive analysis template fosters a vibrant ecosystem of data that demands attention and spurs action. It's more than a tool; it's a mindset shift, elevating the competitive analysis from a one-time affair to a core, continuously updated element of your business strategy.

If you're weary of lifeless data and yearn for strategic synergy, let SmartSuite breathe new life into your competitive analysis. And for those digging deeper into its wonders, our in-depth SmartSuite tutorial series is just what the doctor ordered. Thanks to SmartSuite for sponsoring this revelatory journey, and as always, enjoy the process.

To experience SmartSuite's key benefits for yourself, start a free trial today and explore its intuitive work management platform.