Research and Analysis of the Competition
“Doing solid investigative market research is like peeling an onion. The more layers you peel, the more you reveal. And it also might bring tears to your eyes if you discover that your product vision is not actually unique.
But don’t you want to know what it will take to beat the competition sooner rather than later? If you don’t know what you don’t know, you are at risk of learning the hard way.”
UX Strategy by Jaime Levy
When building a digital strategy and working through your chosen design problem/challenge/opportunity as well as talking to your own customers/users it is also wise to investigate where your product or service stands in the market.
If done thoroughly this research can uncover huge insights into current trends as well as outdated mindsets as well as provide you with ﬁrsthand knowledge of the good and bad user experiences provided by your competitors.
At Talent 100 and The Curator Company we have always found the most efficient way to gathering competitor data is within a Google Sheets spreadsheet matrix as it allows for better sharing of this research across the team and stakeholders.
Looking at Direct Competitors, Indirect Competitors and Influencers (those in other industries that provide good quality user experiences) you can uncover information that through careful analysis assists in aligning the business strategy, design problem and customer user experience.