Competitor Survey Template 🚀

Competitor survey template FAQ

What is competitor analysis?

Competitor analysis (also called competitive analysis) is a process of identifying your competitors and analyzing various aspects of their business strategy.

The goal of this research is to compare yourself to other companies in your niche and discover your relative strengths and weaknesses. You might also spot gaps in the competitors’ offering to fill them in and outperform the competition.

Competitor analysis is helpful at every stage of the business lifecycle. While it’s an absolute must for new businesses still looking for their place on the market, it’s always beneficial to keep up to date with the market to maintain the competitive edge.

To perform a successful competitor analysis, you need to follow the following research steps:

Identify your competitors
Analyze their profiles – check out background information, offering, pricing, and so on.
Track their online presence. Investigate their marketing and promotional strategies, communication style, audience engagement levels, and reviews.
Reach out to your target audience. Find out who they are, how they perceive your competition, and what they need – you can either interview them or run a survey.

What is a competitor survey?

A competitor survey lets you discover how your audience perceives your brand compared to your industry rivals.

With the help of a competitor survey, you’ll get to know your target audience better and add some context to the data from your competitive research. For example, it might be easy to find your competitors’ pricing on their website – but only talking to the customers will reveal if they think the prices are fair.

Why do you need a competitor survey?

There are a few benefits of a competitor survey that will come in handy at every stage of the business lifecycle.

Identify your strengths and weaknesses. You’ll discover which aspects of your product are perceived as better or worse in relation to your competitors. This will give you a clear view of your USPs (Unique Selling Points) and ideas on what you should improve.
Get insights into the quality of your competitors’ products and services. You can easily check what your competitors offer on their websites, but only their customers can tell if the products and services are satisfactory.
Understand your target audience better. A competitor survey is yet another opportunity to gather customer feedback and dig deeper into your audience’s needs and pain points.
Find gaps in your competitors’ offerings. Is there an area where none of your competitors are doing exceptionally well? It might be your chance to satisfy your target audiences’ unmet needs.
Keep up with the market. If there’s any brand you’ve missed in your competitor analysis, you’ll find out from your respondents.

What questions should be included in a competitor analysis survey?

The questions in your competitor survey will vary depending on your business type and lifecycle stage.

However, most competitor survey questions aim to gather information on the following aspects:

Consumers’ perception of the competitors’ products and services (if applicable, you can also ask about opinions on your products and services for comparison)
Brand awareness and positioning (you can also use a brand equity survey for this research)
Competitors’ shortcomings and gaps in their offerings
Brand loyalty and buyer intent

To get you inspired, here are a few ready-to-use competitor survey questions:

“Please rank the following features of our product” [matrix question]
“Which of our competitors’ features do you find the most useful?”
“What do you think this brand is doing particularly well?”
“When you think of this product category, which brands come to mind?”
“Is there any feature you’re not getting from the currently available products?”
“If there was one thing you could improve about the services you’re currently using, what would it be?”
“Are you using other products from this category? Which ones?”
“Which products have you considered as an alternative to ours?”
“What would make you switch to a different product in this category?”

Feel free to mix and match the questions. Or, just use the competitor survey template above!

How to run a competitor analysis survey?

With Survicate, you can have your competitor analysis survey up and running in just a few minutes.

Just click the “Send this survey for free” button above to use the ready-to-go competitor survey template.

Create your free Survicate account and run the survey as-is, or edit the questions and design to fit your brand.

Then, distribute your survey via email, link, website, web app, or mobile app.

Once the results start flowing in, you’ll be able to access a survey report in your account panel. It will show you a response breakdown and answers to your open-ended questions.

All of that in a free account with no time limit.

Take Survicate for a spin now and get up to date with the competitive landscape!

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