How To Conduct a Competitive Analysis (FREE Template)

📈 Conducting a competitive analysis can help businesses determine their unique value proposition, uncover new opportunities, and stay on top of what's next for their competitors. 🤣 The speaker humorously claims Michael B. Jordan as an indirect competitor due to his envy of Jordan's hairline. 💰 Understanding a competitor's pricing strategy, including whether they offer low or high cost products, can help inform your own pricing decisions. 🛍️ Investigating your competitor's pricing strategy, including perks and discounts, can help you stand out in the market. 🔍 Conducting a competitive analysis involves checking out your competitor's web traffic and SEO performance, including their monthly unique visitors and keywords they're ranking for. 📰 Examining the press coverage of your competitors can provide valuable insights into what's making headlines and getting attention in your industry.