UX Competitor Analysis By Icarus_solution Experts
There is a lot that goes into doing a thorough UX competitor analysis, but at its heart, a competitor analysis consists of some basic phases:
· Knowing how to research properly and understand exactly what information you are looking for.
· Synthesizing that information before acting on your findings.
A competitor analysis means knowing your product or service like the back of your hand and stacking that up against the competition out there. There are some standard principles for user interface design which can be used when conducting a competitor analysis. These principles are a general guide and are not set in stone, so you are free to create your own set of standards. These can include anything from specific UI patterns to interaction models.
If you don’t look at the data showing what you’re doing wrong in CX and UX, customers will leave your site, store, or app. It’s no longer a question. One way of stopping this from happening is to do through a competitor analysis.
Why do we need a UX Competitor Analysis In Today’s World?
There is a multitude of reasons why you would want to carry out a UX competitor analysis. One of the basic reasons is that you have not done one before. It is always beneficial for UX designers to acquaint themselves with research methods to better inform their design practice. there are some other most important reasons why you would want to do a UX competitor analysis:
There are some most important reasons why you would want to do a UX competitor analysis:
· To understand where your product or service stands in the market
· To know the strengths and weaknesses of your competition
· To help you solve usability problems
· To inform the design process
· To have reliable evidence when making product changes
· To focus your efforts in a target market
The Benefits of UX Competitor Analysis
Doing a through UX competitor analysis will empower your business choices. But how can you do it? By researching your competition, you can glean insights from the data you collect and make informed UX design decisions.
A competitor analysis allows UX designers to find out if there are any gaps in the market. For example, through your research, you may discover a feature that your competitors’ products do not have. Imagine you identify a feature that would help an underserved market, let us say marketers in this case. By understanding the gap (that is, marketers’ likes and dislikes, interests, values, budget etc.) you will be able to plan for this feature better and make sure of its popularity among target users.
Products or Services of UX Competitor Analysis
As UX designers, we iterate products and services countless times. But these iterations must be backed up with evidence and research. When you identify market gaps, like in the previous example, you can fill them by developing your product or service accordingly.
Different Steps to perform a UX Competitor Analysis
1. Make sure that you know what your goals are.
Why are you doing this competitor analysis? What do you hope to achieve? Will this research impact UX decisions? Your goals should ideally be as specific as possible and hopefully assessable so consider the issues you’re trying to address with the competitor analysis.
Keep your goals at the front of your mind when carrying out your analysis so you can always refer to them without losing sight.
2. Have a good knowledge of your competition
At this point, you might want to open a Google spreadsheet or chart and start creating a table of information. A good number at the beginning stage is around 5–10 direct and indirect competitors, so you can easily keep track of what your competition is doing.
· Direct competition consists of those people and companies who are offering same services and products as you do so your targeted area of the customer is same.
· Indirect competition is composed of those who offer something similar to what you offer. Maybe it is not the first part of their product or service but the second or third.
In today’s world doing business means that competition can pop up at anytime, anywhere. Always try to keep a note of your competitors as they arise, so you do not forget them.
3. Look for similarity among competitors
When looking for commonalities, it is a good idea to write down the actions users can perform, as well as the user journey of competitor products and services, and see if they match with what you are offering. Things to consider:
· The tone and copy of the competitor
· Good and bad features
· User reviews
· Wait/load times
· Customer service
So basically you should know the differences and similarities of the total experience of user’s journey with your products and services and your competitors’ products and services.
4. Analyze and summaries
When you are analyzing your UX research, create a small summary of what you have found out and how that information can help you. This stage is perfect for identifying design opportunities because now you know what your competitors’ products and services lacks and how can you make sure that your own products don’t have that flaw.
Also, the analysis and summary of yours can help you to convince your team members as well as your company’s stakeholders to apply any changes in your products or in your company that you think will be beneficial.
5. Present your UX competitor analysis
After you have compiled your research, analyzed it and synthesized the information into actionable insights, it is time to prepare a presentation of your findings for clients or stakeholders. This is your opportunity to act on those findings. You can even calculate the ROI of your UX activities to add weight to your findings.
Create a PowerPoint presentation containing the interesting information, backed up with evidence. It is vital that you discuss the impact of your research, more than the general findings: the impact is what can be transformed into actions which can transform business.
Which are the Limitations of a Competitor Analysis?
Unfortunately, a competitor analysis is not the solution to all your UX woes. While it is preferable to conduct a UX competitor analysis and it makes sound business sense, there are some pitfalls to the method.
An expert in the subject ‘James Lucas’ says, “as long as we appear to be doing better than someone else, we can feel that we must be doing well, so we don’t need to change.”
Lucas perfectly highlights one of the limitations of the UX competitor analysis: that you can be on the same level, if not higher than your competitor, but this does not give you information to really innovate and lead. If you spend too much time looking at a competitive analysis, you may be missing the mark when it comes to creating truly innovative solutions. You can use your insights to create a strategy that will generate an asset or skill that competitors do not have, but that is down to your ability, not the competitor analysis.
Likewise, another limitation to the UX competitor analysis is that the insights gleaned from the information are only as good as the person understanding and interpreting them. The biggest issues with analytics is that it can become a “distracting black hole of “interesting” data without actionable insights.” Depending on how well you can evaluate the information will determine how valuable that information is.
The Current World is of data-driven and this is the age of analytics reigns supreme. The Fingertips Have so much of data, the numbers and percentages can be lost if it would be tempting.
For the valuable insights the focused should be carried out a focused and thoughtful UX competitor analysis that can help in multiple ways: In the business we can generating more profit, the design of the product and service changing significant , or for innovate the persuading key team or to move in a new direction.