How to Do Competitor Analysis?

Step 1: Identify ALL competitors
Don't just list direct competitors. Include:
•Direct competitors (same solution, same market)
•Indirect competitors (different solution, same problem)
•Alternative solutions (spreadsheets, manual processes)

Step 2: Research each competitor
For each, gather:
•Pricing and plans
•Key features
•Target audience
•Funding and team size (Crunchbase)
•Traffic and growth (SimilarWeb)
•User reviews (G2, Capterra, Reddit)
•Social presence and engagement

Step 3: SWOT Analysis
For each competitor: Strengths, Weaknesses, Opportunities, Threats

Step 4: Find your positioning
Look for gaps:
•Underserved segments (too expensive, too complex, wrong geo)
•Missing features (what do users complain about?)
•Better UX (can you be 10x simpler?)
•Price disruption (can you offer 80% of value at 20% of price?)

Step 5: Build your moat
Differentiation ideas:
•Network effects
•Proprietary data
•Superior user experience
•Niche focus (own one segment completely)
•Integrations and ecosystem

WorthBuild automates Steps 1-2, finding your competitors and analyzing their strengths in minutes.