Are You Being a Copycat by Conducting a Competitor Analysis?
Have you ever wondered if your web design is too similar to that of your competitors and you are being seen as a copycat? Conducting a competitor analysis can help you avoid this!
Imagine that you want to start a food business in your neighborhood. But before you start, it would be wise to research other food businesses in your area, right? You’ll need to observe and analyse what they do well, why they’re loved by their customers, and how you can improve your own business. These other food sellers are your competitors, but that doesn’t mean you’re trying to copy them to become exactly like them. Let’s take a closer look at what competitor analysis really involves.
Competitor Analysis is a crucial research process that allows you to gather valuable insights into the strengths and weaknesses of your competitors. This analysis helps you identify areas where you can improve your business and stand out from the competition to attract more customers, boost business growth, and stay ahead of the curve.
Your competitors can be either direct or indirect. Direct competitors offer similar products or services and target the same user needs and audiences. Examples include Jumia vs. Konga, Bolt vs. Uber, Pepsi vs. Coca-Cola, etc. (Same product/service and same users).
Indirect competitors offer different products or services but target the same customer base and aim to satisfy similar needs. For instance, Coca-Cola vs. Starbucks, Netflix vs. Cinema, etc. (Same users, different products or services).
The Benefits of Competitor Analysis in Web Design
We’ve established that competitor analysis is a vital aspect of any business, and its significance is also not different in design. In fact, it is crucial for several reasons when it comes to creating effective, user-centric, functional, and successful products. The benefits of competitor analysis in design are numerous, and some of them are:
- To know the strengths and weaknesses of your competitors.
- To understand business and design trends.
- To improve User Experience
- To identify opportunities to offer a better service.
- To serve as a good source of inspiration and learning to develop your own skills.
When and how to carry out a Competitor Analysis
Competitor analysis is often carried out in the early stages of a design project. However, a competition analysis might also take place after a product has launched and has run for some time. Since competitors can emerge at any time or may improve their offerings, it is important to make the competitive analysis an iterative process and conduct it at every opportunity.
The How:
- Know the problem you are trying to solve.
- Identify your users’ needs.
- Identify 3–5 main competitors.
- Interact/Use the product of each competitor.
- List out their SWOTs (Strengths, Weaknesses, Opportunities and Threats)
- Include images/screenshots if possible.
Put all these together nicely and you have your Competitive Analysis Report.
Conclusion
Conducting a competitor analysis does not mean that you are being a copycat. It is important not to blindly replicate the designs you discover during your research. Some of your competitors may even have flaws in their strategies. Instead, seek inspiration from the solutions you discovered during your research and adapt them to suit your own designs. This approach will make you more knowledgeable about satisfying your clients, and it can also help you avoid potential pitfalls.
