Competitive intelligence is important in business, particularly for leaders. While using search engine alerts for updates is common, it offers a limited perspective.
Different teams require specific data. For instance, marketing focuses on channels, campaigns, and achieving marketing goals, while sales looks into GTM strategies.
Customizing the approach based on different needs remains critical in effective competitive intelligence.
Tracking competition involves a lot of work, from data collection to documentation. It’s also important to ensure it’s shareable and updated regularly. Here’s where a set of pre-built industry analysis templates or competitive analysis templates will help.
10 Free Industry Analysis Templates to Track Competition
What Are Industry Analysis Templates?
Industry analysis templates help businesses understand market trends, key players, competition, buyer behavior, and micro and macro factors influencing the particular industry. They inform key stakeholders of the market landscape and help them gather insights that provide significant competitive leverage.
The templates provide views of different aspects related to the market landscape, especially competitive intelligence. They help businesses find answers to questions such as:
- Who are the competitors?
- Which market segments are competitors targeting?
- What are their marketing tools and tactics?
- What are their digital and growth strategies: SEO plan, event attendance, etc.?
- What are their sales enablement techniques?
- What are their go-to-market tactics?
- What are the new threats emerging in the market?
- What is your competitive advantage in comparison with other players?
- What are the gaps that currently exist in the market?
Answering the above questions is critical for staying relevant in the market and building products, services, and solutions with a differentiated value proposition. These insights help modify or make business plans to achieve a higher market share, tackle competition, and increase customer wins.
What Makes a Good Industry Analysis Template?
A good industry analysis template is insightful and helps teams stay updated, organized, and action-oriented. Here are some parameters that define a good industry analysis template:
- Simplicity: A simple template focuses on the right things in the right measure
- Goal orientation: A template designed with specific business goals in mind tends to have better actionable outcomes
- Depth: The ability to dive deep into granular details about competitors and the market helps with planning
- Clarity and usability: An easy-to-understand template helps gather insights fast
- Actionability: A good template helps the users make data-driven business decisions
- Customization: The ability to customize it with different views, set up fields, and track statuses helps with the specific needs of your business
- Collaboration: A good template helps you collaborate with other stakeholders by tagging them, setting priorities, and assigning tasks
10 Industry Analysis Templates to Use in 2023
Here’s a curated list of the top 10 industry analysis templates to help you understand the industry and drive your business decisions.
1. Market Analysis Template
This template is ideal when launching a new product or optimizing an existing one.
It helps you understand existing competitors, potential competitors, direct and indirect competitors, replacements, and new entrants. It offers an informed perspective on the market growth rate and your customers’ needs, behaviors, and preferences.
The Market Analysis Template is a user-friendly template that offers Custom Statuses, Views, and Custom Fields to give you an in-depth view of the market landscape.
View detailed information on competitors’ market share, performance, advertising, and promotional strategies using the template’s custom views. The price vs. quality view gives you insights into consumer preferences among your competitors.
With this holistic understanding, tailor your products, services, positioning, and pricing to achieve competitive differentiation.
2. Gap Analysis Template
This Whiteboard template enables you to identify gaps between your goals and your current state, helping you close or reduce gaps effectively.
From operational and need analysis gaps to capability gaps between you and your competitors, every gap impacts the overall performance of your products or services. Visualize the gap and get a deeper view using the Gap Analysis Template.
After identifying the goal and collecting relevant data, use this template to create a gap analysis chart. One column is for your current performance, and the other is for desired performance, thus helping you identify the gaps.
As you address the gap, keep track of them using Custom Statuses and categorize them through Custom Fields.
3. Personal SWOT Analysis Template
SWOT analysis templates are handy tools that serve as a good reality check against the competition by providing an objective view of your strengths, weaknesses, opportunities, and threats.
The Personal SWOT Analysis Template makes this analysis far more actionable by enabling you to brainstorm and list action items. It enables you to group and organize custom tasks. Track the progress of these tasks using custom statuses from time to time.
Add custom fields that include Worksheet Link, Completion Rate, Objective, and Timeline. In addition, the template enables you to set up Custom Views such as List View, Gantt Chart View, and tasks on a Calendar View based on workload.
A highlight of this template is its ability to help you collect feedback internally for your SWOT analysis and improvement plan by involving other users or assignees, setting priorities, and receiving and giving comments or reactions.
Elevate personal SWOT analysis to a new level by making it more collaborative and actionable.
4. Competitor Tracking Template
Tracking competitor data is quite daunting despite the availability of several competitor analysis tools, given the large amount of information out there.
The Competitor Tracking template helps you track competition at a high level and delve into granular details such as product type, pricing, and release date. These details provide a holistic understanding of competitor moves without letting vital information slip through the cracks.
Use custom fields in this template to track vital information like unit price, product ratings, features, product type, and release year. Also, use custom views to track different product categories, such as laptops, smartphones, smartwatches, and tablets.
This template allows you to configure and track status updates, facilitating progress. It also lets you stay updated using time tracking, tags, dependency warnings, and more. Elevate your competitor intelligence with in-depth and updated tracking.
5. SEO Competitor Analysis Template
A successful SEO strategy depends greatly on awareness of competitors’ strategies.
SEO Competitor Analysis Template helps you develop a deep understanding of competitors’ SEO strategies, enabling you to create a winning SEO strategy.
Track and visualize vital information about the competition using the template’s 27 custom attributes, such as Traffic Visibility Findings, Content Score, Estimate Organic Traffic Value, Avg of Images in Articles, and Domain Score.
Deep dive into competitor website performance information, including accessibility, traffic visibility, and content quality using custom views. Stay informed and organized with the Status Board and improve actionability with the Getting Started Guide.
This template will enable you to formulate the right content strategy. Outrank your competitors with a granular analysis of competitor SEO strategies.
6. Competitive Analysis Template
The highlight of this template is the quadrant view of the competitive landscape, enabling you to compare yourself to the competitive landscape and identify new growth areas.
Competitive Analysis Template helps you whiteboard your competitive landscape. As the next steps, it also allows you to create tasks with custom statuses such as Open and Complete.
Categorize and better manage your tasks using custom fields. The custom views allow you to open two views: Whiteboard and Getting Started Guide.
Track every competitive analysis using nested subtasks, multiple assignees, and priority labels.
After understanding where you are in the competitive landscape, decide next steps, set priorities, assign tasks, and track them.
7. Competitive Analysis Pricing Template
Pricing significantly affects a prospect’s decision in a market filled with identical alternatives.
Competitive Analysis Pricing Template helps you better understand your competitor’s pricing strategies and plans. Based on these insights, you will be able to offer compelling choices to your customers.
Get a comprehensive view of the pricing landscape using Custom Views. Set up notifications to get updates.
Use custom fields to easily manage tasks by adding different attributes to competitor pricing. If you must modify your pricing, keep track of it using configurable status updates to avoid missing any module or service.
Elevate your competitor pricing awareness to offer compelling prices to your customers using the Competitive Analysis Pricing template.
8. Go to Market Strategy Template
You need an effective go-to-market strategy before you take a new product or service to the market and drive demand. Your step-by-step plan results from market research on competitors, target audience, sales strategy, and pricing.
Go to Market Strategy Template helps you take your product or service to the market through the right channels with the right messaging.
This template helps you capture relevant data and get an overview of the market to help you plan the steps necessary to launch the product successfully. It enables you to reach your target audience and rightly position your products. This improves your chances for a successful product launch.
9. Soar Analysis Template
Aspirations are a great place to start. Yet, success happens when they meet the right opportunity.
A clear understanding of strengths, opportunities, aspirations, and results is essential to maximize your strengths and convert them into outcomes that matter.
SOAR (Strengths, Opportunities, Aspirations, Result) analysis helps organizations assess their performance by evaluating factors that affect their success. It then helps create a plan to work on the areas of improvement.
Leverage the Soar Analysis Template to visually represent this information in a single view. Based on this, create tasks and checklists, assign priorities, and set deadlines using the template.
Use the template to achieve impressive results with the right identification, analysis, and collaborative action.
10. Porter’s 5 Forces Template
Porter’s 5 Forces have proven to be a highly effective tool to understand competitive pressures.
Using this template, map the 5 forces that represent the sources of pressure in your industry:
- Competitive rivalry
- Supplier power
- Buyer power
- Threat of substitution
- Threat of new entry
Porter’s 5 Forces Template helps you to create custom views, Whiteboard, and Doc to make this analysis simpler and more effective. Also, mark the status of tasks as open and complete. A legend is available to guide you.
Make your analysis actionable using Porter’s 5 Forces Template.
Ace Competition with Industry Analysis Templates
To combat your competitors, you need effective tools and templates that give you a holistic picture.
These 10 free templates are designed with key business goals and outcomes. They enable you to understand your competitive landscape completely and help you understand the width and depth of it from multiple vantage points.
In addition, they help you take action, set up interventions, and pause and re-evaluate your strategies.
Say goodbye to competitive analysis on spreadsheets and free up your competitive intelligence from isolated silos. Leverage these templates to align all your internal stakeholders. Offer your internal stakeholders contextual information relevant to their respective functions.
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