Out of everything you listed in your competitor intel worksheet, what do you outrightly do better than your competitors that distinguishes you? For example, industry-leading webinars that get engagement, skilled staff, a superior mobile app, customer traction, etc.
On the flip side, where did you lag behind your competitors? Remember, every company has weaknesses, whether that be customer service, wait time, lack of a feature, poor SEO rankings, etc.
Tip: when you’re working through your strengths and weaknesses, remember to call out perceived strengths and weaknesses, too.
Based on your competitor and customer research, what trends or untapped markets are emerging that you could jump on? This could be anything from a new feature or market to press opportunities. Also, remember to look for areas of the business that can be optimized to open up/capitalize on an opportunity.
What could get in the way of your success either right now or in the future? Think about things like new competitors, a change in regulations, new technology, a shift in customer needs, areas where customer servicing costs can spike, etc.
What are your competitors doing really well at that you’re either not doing, or not doing very well?
Where are your competitors’ holes? Ideally, these should be backed up with evidence - like a trend in customer reviews, for example.
What opportunities are your competitors ready to seize? Or are they better placed to capitalize on any of your opportunities?
What threats stand in the way of your competitors’ success? And thinking next level, how do your competitors pose a direct threat to you? For example, are they growing faster than you? Are they entering a new market? Or branching out overseas?