STARTING YOUR OWN BUSINESS – STEP 2
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STARTING YOUR OWN BUSINESS
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STEP 2: TAKE A LOOK AT YOUR COMPETITION
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Examining your competition does not mean you plan to copy them or will try to offer exactly the same (nor the exact opposite). This exercise will give you an overview of what’s out there in your field and it will probably inspire you. Your competition might well turn out to be your mentors.
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First, create a list of your main competition. Three are fine and make it not more than ten, as you will probably not gain more insight from looking at even more businesses. Start out with a general analysis of their offers. Proceed to an analysis of their content. You will find content you want to have, too. You will see things you would want to do completely different. In the end, you will have learned a lot about your market niche.
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General Analysis
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CriteriaExplanationCompetitor 1Competitor 2Competitor 3Competitor 4Competitor 5Competitor 6
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Sales PlatformWhere do they offer their services or products?
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Size of TeamHow many people work there?
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Area of BusinessIn which cities or countries are they active?
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Unique Selling PointWhat makes their offer stand out?
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Target AudienceWho do you think is their ideal customer?
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Content Analysis
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Content
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BlogDo they blog regularly?
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PodcastDo they have their own podcast or appear in others' podcasts?
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TestimonialsCan you find customer quotes or stories on their website?
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FreebiesDo they offer something for free? A newsletter, webcast, PDF...?
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VideoIs there video content on the site? What kind?
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Social Media
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No. of Instagram Followers
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No. of Pinterest Followers
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No. of Facebook Followers
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No. of Twitter Followers
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Language & Design
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Photos/PicturesWhat kind of pictures do you see? Did they take them themselves or are there stock photos? What style do the pictures have?
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LanguageHow do they address their customers? Is the language professional, playful, personal?
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Page/Shop Setup
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General ImpressionDo you find your way around easily? Is it nice to browse?
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MenuDo you always know where you are on the page or in the shop? Can you navigate easily? Why, why not?
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Defined headlines, like H1 or H2To optimize a website or shop for search engines such as Google, each page needs to have headings, defined page titles and a meta description. You can check these with the free version of Screaming Frog e.g.
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Page title fits page
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Metadescription
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Price Level (€ to €€€)At what price range does the business offer its products or services?
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ObservationsWrite down your general observations of the business.
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LearningsWhat inspired you? What do you want to do differently
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www.designwiesel.com
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