Before starting the development of a web or mobile service, it is important to know what your competitors are offering and what marketing strategies they are using. Even if it seems like you’re working with unique ideas and your product has exclusive features, it’s worth investing time and resources into a thorough competitive analysis. We live in an age of information saturation, and even the most unique idea at first glance may have many equivalent alternatives.
Why it’s important to study the competitive market:
- You will be able to create a higher-quality product and develop a truly unique selling proposition.
- You will understand which aspects of your development strategy need strengthening.
- You will learn to anticipate competitors’ actions and stay one step ahead.
- You will identify growth opportunities that can help increase reach and profit.
1. Creating a list of competitors
When identifying competitors, focus not on the product and its execution but on the core idea—what need or problem the product or service solves for the consumer. A simple example: many people prefer eating at home but don’t want to wash dishes. In this case, disposable dishes and a dishwasher can be considered competitors in terms of the product’s idea.
Where to look for competitors? You probably already know some of the key players. Additionally, you can use a tool like Google Keyword Planner —go to the site, enter keywords that describe your service, and identify the most frequent queries associated with it. Then, input these keywords into a search engine to find the most well-known competitors.
You can also study user opinions on social networks or specialized platforms such as SurveyMonkey. Create surveys and ask users how they solve problems or fulfill needs related to your product, and what might make them pay attention to another brand.
2. Defining the parameters for analysis
When comparing mobile applications and web services, it’s crucial to first evaluate the functionality and ease of use of competitors’ products. Next, it’s important to analyze their marketing strategies to get a complete picture.
We suggest conducting an analysis based on these fundamental criteria:
- Problems solved and functionality of the service
- New features
- Usability (ease of use of the service)
- Positioning
- Website, SEO, and contextual advertising
- Social media presence
- Email marketing
- Content strategy
To simplify the process, we recommend creating a table where you can record all the gathered data. In the first column, list the names of competitors, and in the other columns, list the parameters for analysis. The table might look like this:
3. Studying the tasks solved and the functionality of competitors’ products
Start by reading the product descriptions in mobile app stores or on the competitors’ official websites. Most likely, these texts already contain information about the problems and needs of users that the product aims to solve. Record the data you gather and then move on to testing—don’t hesitate to download competitors’ mobile apps, open their services on a computer, and try them out as a regular user.
Write down a list of features found in each product. Also, take note of anything that you intuitively feel is missing or that you would like to add to these services—these insights can help you improve and update your own software products.
4. New features
Pay attention to additional functions and new possibilities that you haven’t encountered before. Some of these might be ideas you haven’t implemented yet—check how well and conveniently they work. Consider how these new features could be improved and whether they can bring value to your product.
5. Testing usability
At this stage, it’s important to “turn off” your competitor’s mindset and test the service as a potential user would. Focus on the placement of functional elements, the clarity of instructions, the intuitiveness of navigation, and the speed and precision of actions. Take note of any areas that could be enhanced or improved, so you can apply this information to your own work.
6. Studying competitors’ positioning
To be recognizable, every developer strives to create a unique image for their product, thus occupying a specific niche. Think of the popular deodorant commercials from the 90s: one protects 24/7, another cares for your skin, and a third is ideal for sports. The same principle applies in today’s market — for a product to be recognizable, it needs a unique feature or distinct characteristic.
Pay attention to the competitors’ slogans, logos, and their communication style with users. These elements often reflect the product’s positioning. By analyzing them, you can better understand how each competitor differentiates themselves and use these insights to refine your own brand’s positioning.
7. Studying websites, SEO, and contextual advertising
To analyze traffic, you can use tools like Similarweb. When exploring the competitors’ websites, focus on the following:
- Website usability, attractiveness, and relevance of the design;
- Communication methods (phone calls, messaging apps, consultations);
- Quality of images used on the site;
- Services offered, their pricing, and geographic coverage;
- Payment terms, guarantees, and loyalty programs;
- Blog availability and how frequently it’s updated;
- Registration process duration on the website.
Don’t forget to check the mobile version as well—see how easy it is to interact with the competitor’s site via a smartphone.
If you’re comparing online stores, dive into more detailed aspects, such as product card designs, availability of video reviews, and promotions. Also, check if they have mobile apps, assess their functionality and the number of users.
For studying competitors’ SEO and contextual advertising efforts, you can use a tool like SEMrush. It helps you discover the keywords your competitors use, find their contextual ads, and develop an effective SEO strategy for your own business.
8. Social media
Competitors typically place links to all their active social media platforms on their websites. Take note of which platforms they use, the number of followers, and the frequency of their posts. Pay attention to any activities, such as contests or promotions—how often they happen and how they’re conducted. Record all this data in your table.
By analyzing their social media presence, you’ll gain insights into which promotion methods are most effective (e.g., which promotions garnered positive feedback and which didn’t), which posts attract the most interest and comments, and what tone of communication works best for engaging with users.
9. Email marketing
While visiting the competitor’s website or mobile app, check if there is an option to subscribe to their newsletter. After subscribing, monitor the emails you receive over a period of 3-7 days. This will give you insight into how frequently they send emails, what type of information they include, and the tone of their email communication.
10. Analyzing content strategy
At this stage, put yourself in the shoes of a potential user and closely examine the quality and frequency of the content your competitors share:
- Look at the topics covered in blogs.
- Identify materials that received the most engagement (comments, views, shares).
- Explore competitors’ blogs on platforms like Medium, TechCrunch, LinkedIn.
- Determine the most popular content themes.
Using a tool like Serpstat, you can also find out on which other platforms your competitors are publishing content. This will give you a broader understanding of their content distribution strategy.
11. Summing up
Now that we’ve gathered all the useful and necessary information, it’s time to perform a comparative analysis. Identify the strengths and weaknesses in your competitors’ behavior, and compare each parameter with your own approach. Create a list of features and improvements that will make your product more valuable, higher quality, and more effective than your competitors’ services.
Determine which areas of your strategy need to be reconsidered and what new elements can be introduced into your marketing tactics to increase your user base and profitability. Write down all your ideas on a separate list and begin implementing them.
Good luck with making it all happen!