Planning resource

Competitor analysis template for small businesses

Compare the alternatives your customers actually consider.

Start with the buying decision

Choose a customer segment and problem. Include direct competitors, substitutes, doing the work internally and doing nothing. Use customer interviews to understand which alternatives matter.

Choose useful comparison criteria

Compare outcome, suitability, buying process, pricing where public, service and credible evidence. Record sources and dates. Mark unknowns instead of treating missing information as a weakness.

Fictional example: a training provider

The provider compares live workshops with online courses, internal coaching and delaying training. Interviews suggest practical application and time away from work matter more than course length alone. It tests a shorter workshop with follow-up exercises.

Find a meaningful difference

A useful distinction matters to the customer and is supported by evidence. Avoid declaring yourself best on every criterion. Identify gaps in your own offer as well as opportunities.

Apply the findings

Update your proposition and choose one test. InkWell’s competitor analysis can support the thinking, while customer evidence remains essential.

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