Competitor analysis has a bit of a branding problem.
For most brands, it looks like:
- Screenshotting competitor ads
- Obsessively checking prices
- Comparing Instagram grids
- Quietly panicking about who’s “doing better”
However, we hate to break it to you, that’s not how you conduct a strategic competitor analysis…it’s how you become reactive to what everyone else is doing.
An effective competitor analysis shouldn’t involve copying what others are doing from a place of reactivity. Rather, it should involve understanding where the market is crowded, where there are gaps, and where the opportunity actually lives.
Blog in a Snapshot
Competitor analysis doesn’t need to be reactive, overwhelming, or driven by comparison anxiety, stick around to uncover our 5-step method to:
- Identify which competitors matter
- Uncover opportunities
- Learn from brands’ positioning, and spot where customer needs are being underserved
- Translate insight into one clear, defensible competitive edge
- Find your advantage without losing your brand identity or racing to the bottom
With that being said, if you want to find your edge, without losing your brand’s identity or racing to the bottom, then we’ve made this 5-step process to help you conduct a strategic competitor analysis.
Step 1: Define the Competitive Set That Actually Matters
The first mistake brands make is analysing everyone, however in reality, not every brand in your category is your competitor.
Your true competitors are the brands that:
- Your customers actively compare you to
- Show up in the same decision-making moment
- Solve the same problem in a similar way
Tactical checklist
Ask:
- Who do customers mention in reviews or emails?
- Who appears in Google searches for your core product?
- Who do retailers or stockists group you alongside?
- Who are customers switching from or to?
Aim for 3–6 competitors max; if your list is longer than that, it’s too broad to be useful.
Step 2: Map How They Position Themselves (Not Just What They Sell)
While there are many brands that sell similar products, what actually differs is how they frame the value.
Your goal here isn’t to judge quality or the products themselves, it’s to understand positioning patterns.
What to analyse
For each competitor, document:
- Their core promise (what problem do they lead with?)
- Their primary emotional hook (results, safety, status, values?)
- Who they’re clearly speaking to
- What messaging they repeat consistently across ads, website, and email
Strategic insight to look for
- Are multiple brands saying the same thing?
- Is everyone leading with ingredients, price, or claims?
- Is anyone owning a clear emotional lane?
Crowded messaging presents an opportunity for your brand to stand out and position yourself and your brand values differently.
Step 3: Analyse the Customer Journey They’re Optimising For
Remember, not every brand is playing the same game and has the same goals for a particular campaign.
Some optimise for:
- First purchase speed
- Discount-driven conversion
- Subscription lock-in
- Retail credibility
- Loyalty and repeat value
Understanding what they’re optimising for helps you decide whether to compete, or intentionally move away instead.
Tactical checklist
Review their:
- Homepage messaging (education vs urgency)
- Product pages (depth vs speed)
- Offers (bundles, subscriptions, trials)
- Post-purchase experience (emails, education, loyalty)
Ask: What behaviour is this brand trying to encourage?
This reveals their growth model, and its weaknesses.
Step 4: Identify Where Customers Are Likely Being Underserved
This is where your potential edge lives. Rather than purely focusing on “What are competitors doing well?”, ask: “Where might customers still feel confused, unsupported, or unconvinced?”
Look for signals like:
- Overly technical messaging with no translation
- Heavy discounting instead of education
- Generic post-purchase communication
- Little emphasis on retention or usage guidance
- All acquisition, no relationship-building
These gaps are often invisible to brands, but obvious to customers, and they can be easier to win than trying to outspend or out-shout competitors.
Step 5: Translate Insights Into One Clear Strategic Advantage
So many brands can get this far, only to not use their insights strategically, which is where most competitor analyses become redundant, for insight without action is just information.
The goal isn’t to “be different everywhere”, it’s to be clearly better somewhere that matters.
Based on everything you’ve reviewed, ask:
- What can we own that competitors aren’t prioritising?
- Where does this align with our values and strengths?
- What would make choosing us feel obvious?
Your edge should show up clearly in:
- Your messaging
- Your creative
- Your customer experience
- Your retention strategy
We’d encourage you aim to articulate your edge in one sentence, and if you can’t, it’s not sharp enough yet.
Final Thoughts: Differentiation Isn’t Loud – It’s Clear
Strong brands don’t win by copying what’s working. They win by understanding the landscape, and choosing their position deliberately.
A good competitor analysis:
- Sharpens your messaging
- Simplifies decision-making
- Prevents reactive marketing
- Helps you grow without compromising your values
And most importantly, it helps you stop chasing everyone else’s game, and start playing your own.
If you’re unsure where your edge really is, or how to translate insight into strategy, that’s exactly what we help brands uncover. Book a digital alignment call with us to help you uncover and lean into your competitive advantage!
