Blog Post

Let’s be honest: most businesses don’t fail because their product is bad. They fail because they ignored the competition or missed key shifts in the market. I’ve seen it happen more than once—and not just with startups. Even established companies lose ground when they assume today’s strategy will work tomorrow.

That’s why I’ve built competitor and market trend analysis into every strategic decision I make for my clients. This post breaks down the five techniques I personally use to stay ahead of the curve. Nothing fluffy here. Just practical, results-focused methods backed by data and a little common sense.

Here’s what you’ll get from this guide:

• How I figure out which competitors are actually worth watching
  
• Where I look to decode their marketing and business moves
  
• What numbers I track to measure who’s winning and why
  
• How I spot trends before they become obvious
  
• Why visuals make research actually useful (and not just academic)
  

Not everyone in your industry is your competition. That’s mistake number one.

I break competitors into three categories:

• Direct: Same audience, similar product or service
  
• Indirect: Different product but solving the same problem
  
• Aspirational: Bigger players whose strategy is worth studying
  

I start by identifying overlap. That could be price points, distribution channels, or customer profiles. I’m not comparing a local niche service to Amazon—because that’s just noise.

If you get this part wrong, everything else in your research will be off. You’ll end up responding to the wrong threats and missing the real ones.

If this feels new to you, I’d suggest starting with my piece on Market & Competitor Research 101. It covers how I set up the foundation for solid competitor analysis.

I like to call this part “strategic eavesdropping.” It’s 100% legal—and incredibly effective.

Here’s where I look:

• Websites: I analyze how they position themselves, what their offers are, and how frequently they change messaging
  
• Ads: Tools like the Meta Ad Library or SEMrush let me see what ads they’re running and what they’re testing
  
• Emails: Yes, I subscribe to their newsletters—because why not let them send strategy updates straight to my inbox?
  
• Reviews: This is gold. Reading through customer complaints and praises on platforms like G2 or Reddit gives you insights you won’t find on any landing page
  

This isn’t about copying. It’s about understanding how competitors engage with their audience, what language resonates, and how their strategy evolves over time.

For a step-by-step breakdown of how I set this up, take a look at The Beginner’s Guide to Market Analysis.

Data is useful—but only if you’re measuring the right things.

Here are the metrics I pay the most attention to:

• Revenue growth (monthly or quarterly)
  
• Customer acquisition cost (CAC) and customer lifetime value (CLV)
  
• Profit margins
  
• Market share changes
  
• Engagement metrics from ads, social, and content
  

Sometimes I even create a basic revenue growth formula to compare companies over time. It looks like this:

Revenue(t) = a + b*t

Where t is time, a is the starting point, and b is the rate of growth. You don’t need a PhD to use this. I apply it in Google Sheets and compare 3–5 players to see who’s gaining ground.

One thing I avoid: vanity metrics. Likes, views, and impressions can be misleading unless they directly tie to conversions or sales.

If you want to see how I turn this data into strategy, I share a full breakdown in From Data to Action.

This is where things get interesting. Competitor analysis is great—but if you’re not tracking market shifts, you’re only seeing half the picture.

I monitor:

• Google Trends
  
• Industry newsletters
  
• Niche subreddits or Facebook groups
  
• Social media buzz (hashtags, influencer content, etc.)
  

Trends don’t announce themselves. They start small. I’ve helped brands capitalize on product trends by catching them early—just by noticing recurring keywords or topics customers were talking about online.

For example, I once saw a sudden spike in interest around a specific ingredient in the wellness space. While others were still debating it in product meetings, we had a campaign live.

You can’t fake this. You have to actually care about what’s shifting. But the payoff is real.

For a deeper look into what’s changing this year, check out 2025 Market Research Trends You Can’t Ignore.

Even the best research is worthless if nobody understands it. That’s why I turn most of my competitor analysis into visual dashboards or charts.

Here’s what I create regularly:

• Market share comparisons over time
  
• Competitor pricing models mapped side by side
  
• Content strategy timelines (who’s posting what, and when)
  
• Trend heatmaps for keywords or product features
  

My favorite tools include Looker Studio, Tableau, and even Canva for quick turnarounds. Nothing fancy—just clean, readable visuals that help make better decisions.

Let’s be honest: nobody wants to dig through 20 tabs of spreadsheets. Visuals help stakeholders see exactly what’s happening—and what to do next.

I’ve put together a list of my go-to platforms in Top Tools for Market Research in 2025.

Not every company nails this. In fact, I’ve seen two very different outcomes play out.

Success Story: A client in the software space noticed a competitor was consistently weak on onboarding support. They responded with a guided demo experience and started pulling in users frustrated by the competition’s learning curve. It wasn’t rocket science. Just smart observation and fast action.

Missed Opportunity: Another company sat on obvious signals—rising keywords, competitor campaigns—because their internal team didn’t prioritize market research. By the time they reacted, the window had closed. They lost market share they may never get back.

You don’t need to act on everything, but ignoring obvious patterns is a recipe for stagnation.

Here’s a quick summary you can refer to anytime:

• Identify your real competitors—don’t just guess
  
• Track what they say, sell, and show (and how often)
  
• Focus on performance metrics that actually affect growth
  
• Monitor trends through customer conversations and online behavior
  
• Turn research into simple visuals your team can use immediately
  

If you only do this once a year, it won’t help much. I treat competitor analysis like an always-on radar. If something big changes, I want to be the first to know—and act.

If you’re just getting started, Understanding Your Industry Through Research is a great place to begin.

Or, if you’re preparing to launch something new, I strongly recommend Avoid Costly Mistakes Before Product Launch.

This isn’t about obsessing over the competition. It’s about building smarter strategies based on what’s really happening—not what we assume is happening.

The five techniques I’ve shared are practical, repeatable, and grounded in experience. I use them because they work. Not just for massive corporations with deep pockets—but for solo founders, scrappy teams, and growth-stage brands.

Because at the end of the day, the businesses that win aren’t the ones that guess right. They’re the ones who observe, adapt, and act faster than everyone else.

And if you ever need help figuring out what your competitors are up to—or how you should respond—you know where to find me.