What is the Competitor Analysis Chart template?
Analyze who your competitors are and how you compare to them in terms of the features, pricing, or others. Conduct research studies to discover the similarities and differences and create main categories (or aspects) of your findings. Use the Spider Diagram method to display the data sets on the radial axis.
Present how similar or different your research object is by looking at it from various perspectives. Add dots (anchors) on the axis (spokes) and connect them with lines on the virtual spider web. Use the Competitor Analysis Chart to visualize any performance data and learnings in an organized and tidy way.
What are the benefits of the Competitor Analysis Chart template?
Thanks to the Competitor Analysis Chart template, you can:
- See what makes your company or product stand out amongst similar solutions.
- Learn what works and what doesn’t for your customers.
- Discover whether you’re ahead or behind your market competitors.
- Spot the opportunities for growth for your company.
- Gain the knowledge to create effective marketing, sales, or business strategies in the future.
How to use the Competitor Analysis Chart template in a few steps?
- Open the template on a new whiteboard or add it to an already existing one.
- Define the main categories/aspects of ideas, products, or data you analyzed on the Spider Diagram. Put the names of categories at the ends of each axis. Add (or remove) the axis whenever necessary but ensure that they are arranged radially around the central point.
- Define the aspect values in numbers and put dots (anchors) in appropriate places of the axis (spokes). Draw lines connecting the data values between different axis.
- Draw lines and dots in different colors to compare various data or products on the same diagram. Use the ready-made components available already on the template.