Finding ways to improve your processes and the products? Or interested in going beyond the basic analysis of your competitors? Competitor benchmarking template excel, a high-quality excel worksheet available acts as improvement tool. Wondering how? Improvement requires comparison of your organization processes to obtain output with the overall metrics or to judge against it with your opponents! Now check if your processes are effective or efficient enough to match against competitors!
According to Wikipedia, “Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.”
Competitor benchmarking is a vital process for businesses to assess their performance and compare it to their competitors in the market. To streamline this process, many organizations utilize a Competitor Benchmarking Template in Excel or PDF format.
This template serves as a structured framework that allows companies to gather and analyze data related to their competitors’ strategies, products, services, and overall market positioning.
The Competitor Benchmarking Template in Excel-PDF format typically consists of several sections, each focusing on different aspects of the competitive landscape.
These sections may include competitor profiles, key performance indicators (KPIs), market share analysis, product/service comparisons, and SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.
Depending on the key industry success factors this process varies along; however the basic process remains the same. To tell the truth, this template is available in ready to go format and this means you can use it as it is without making any major changes in it.
Want to get the outputs in least time, through best process and for the cheapest price? Go with the competitor analysis or download free competitor benchmarking template now!
Format of Competitor Benchmarking Template Excel
Before going ahead let’s have a look at the fundamentals of this excel template. Available in various formats the format of the sheet remains the same with slight difference.
Competitor SWOT analysis
Now you able to compare your company offerings with your competitor using SWOT analysis. Moreover analysis of the company strengths, weaknesses, opportunities and threats is always for betterment.
The details of the process and the benefits are mentioned below however the basic idea is to audit internal company processes and how they are beneficial or harmful for the company. This do require monitoring your competitors as well.
Potency is usually from the internal company processes as well as the weaknesses. Discussing strengths here, this column of the template is available so that you are able to enter the strengths here.
The cells in this column has some of the components like advantages of brand, capabilities, cultural behavior, availability of certain employees availability with skills in the area, location of the company premises!
The competitor profiles section provides a comprehensive overview of each competitor, including their company name, industry, target market, and key contact information. This section acts as a reference guide, allowing businesses to easily access details about their competitors whenever needed.
Internally, your company internal processes results in weaknesses or strengths. Overview of the processes and the competitor analysis make it easier. This part of the template allows you to enter the weaknesses.
Some of the weaknesses can be, unavailability of free machinery for the process, lack of workers or supervisor, less free area available, lack of budget or you can adds your!
Understand this dynamic well and you are able to beat your competitors easily. With all honesty, competitor analysis allow you to turn your weaknesses and threats into opportunities and strengths. Thinking over how?
Opportunities are usually form the external factors.
Global influences, market developments, seasonal variations, product and processes target markets, higher demand are all opportunities.
Analyze threats for your company safety. A certain product or service may have external threats. Move faster towards your goal and objectives using the threats section of the template.
Competitor A & B
Analyze all these components for your competitors and you can use them for your company betterment!
Benchmarking Against Competitors
Either you are looking for UX or digital social media and SEO benchmarking against competitors and want template for report to client in pdf format. You need an example template or sample to at-least figure out to-do list for professional report create.
Download Competitor Benchmarking Template Excel for different industry like Social Media, product market analysis, fashion industry with price and other factors regarding.