Competitor Analysis Framework: The 5 Step Guide You MUST Follow

Starting a company often involves facing competition, and having a competitive edge becomes essential. Embracing competition is seen as a positive sign in the SaaS industry, indicating the relevance and urgency of the problem being solved. The speaker introduces a five-step framework for analyzing competitors in the SaaS industry. Steps include using LinkedIn to understand a competitor's team structure and strategy, analyzing advertising on platforms like Facebook, and utilizing tools like Ahrefs to examine website traffic and ad campaigns. Going beyond the website's surface, the speaker advises examining a competitor's sales motion, pricing, and lead magnets. The video stresses the importance of not blindly copying competitors but using insights to inform and enhance one's own go-to-market strategy.