Running a competitive analysis: Find, drill down, and evaluate your competition | Evan Kimbrell | Skillshare

Running a competitive analysis: Find, drill down, and evaluate your competition

Evan Kimbrell, Director at Sprintkick

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7 Lessons (39m)
    • 1. Welcome to the class!

      1:44
    • 2. First thing to do

      1:05
    • 3. The idea we're going to use as an example

      2:18
    • 4. Search techniques for finding competitors

      13:20
    • 5. Running a competition analysis

      16:23
    • 6. The class project

      2:15
    • 7. Keep the learning going

      1:49

About This Class

So you have an idea and you think it's the next big thing. This could be the idea that you've been waiting for - the idea that's going to make you mega successful and famous. You've bought the domain, you've incorporated the name, and you've given your family a detailed timeline for your imminent success. But wait... if this idea is so great, why hasn't someone else capitalized on it?

  • So how do you figure out if someone has already capitalized on your idea?
  • What happens if there is someone doing the exact same thing or building a very similar product?
  • Is it game over or proof that you did indeed identify an opportunity?

These are questions every entrepreneur, product manager, and even CEO have had to ask themselves at some point. You might have competitors. How do you find them? And more importantly how do you know what to make of them?

This class is designed as a how-to guide to finding and assessing your competition. Learn how to use advanced search techniques to find even the most stealthy competitor and then drill into them to assess their strengths and weaknesses.

What you'll learn:

  • Advanced search techniques to tune out search "noise" and hone in on potential competitors.
  • Alternative search engines and ways of searching for potential threats.
  • How to use tools like SemRush to track your competitor's ad spends, ranking, and ad placements.
  • How to use news and PR outlets to gauge the velocity of your competition.

What you'll do:

At the end of the class, you'll have the opportunity to use your newfound skills to seek out competitors for an idea you're working on or for a generic idea that's provided.

You will make assessments of your competition and learn to think critically about what each competitor presents. You'll get the opportunity to post your detective work and get direct feedback from me.

Transcripts

1. Welcome to the class!: Hey, guys, I'm Evan Kimbrell, and I'm the director at Sprint Kick, which is a Web and mobile development studio based out of San Francisco, California. So this class I'm gonna teach you a skill that every start up every entrepreneur should have the ability to run a competitive analysis. This is a problem a lot of entrepreneurs want into. They have this cool idea. They think it's great that they don't know if it's something that's being done by someone else better. It's incredibly important to know how to find competitors, analyze them and decide what they're not. They are something to be feared or something to be ignored. Don't be like the entrepreneur that sits on an idea for several years and then finally figures out that someone actually has already taken their idea and run with it. I just someone off the top of my head worked on a project for two years, only to find out with some basic Google searching. There is a company that's doing exactly what they did, and they were doing a lot better. Avoid those problems, learn these basic skills, learned how to find the competitors and drill down on them now in order to take this class . It helps if you have an idea, but you don't necessarily need one. Thes skills are helpful in a variety of different roles. We will tailor this class to online. So when we look for competitors were looking for competitors that are online for applications or mobile. APS. Hopefully, at the end of this class, you will have a new set of skills that in the future when you have an idea, you can go out there and figure out where they're not something that's already being done. Alright, guys, I hope you're excited to take this class Click enroll I'll see inside. 2. First thing to do: Hey, guys, welcome back to the class. So I have an assignment for you really quickly. I want this to be the first thing you dio eso at the bottom of the skill share page. It says discussions, the clip discussions, and then you can click new post. I want you right now to go and do that and introduce yourself. You don't have to tell me a lot of information. You can just say your name or your from. But what I'd like to actually hear from you is one. What do you struggling with? And to what are you looking to get out of the class? I think this is something that helped immensely with the class. I really like to make my classes as engaging as possible. I respond to everyone, and I want to make sure that as I'm teaching, I'm meeting your goals and I know exactly what I'm trying to fix. Okay, so this is the first thing. Just go down to the bottom of the page. Do that now. Don't skip it. You can skip it if you want, but I think you'll miss out. All right. Seeing the next lecture 3. The idea we're going to use as an example: guys, welcome back to the course. So we're gonna talk really quickly. Um, about an idea that we're gonna select for this course. The reason why we're going to select an idea is because it's gonna make it a lot easier for me to explain to you the process, um, of validating your idea, getting customer feedback, creating pages and testing responses. It's much easier if we can use an example. Um, and if I use an example, then you can follow along. Keep that in your head if you have your own project. Obviously, keep that also in your head. Um, but I can you make each lecture pointed, so I don't actually to talk just about the theory. So the example that I'm gonna use throughout this course it's not a very good one, but it's something that gives you kind of a decent grasp of what the options are. So, um, what I've come up with just kind of on the spot because it doesn't take a lot of time. I'm thinking about a Web, a mobile application and this mobile application. What it does is that when you open it, it is going to look around the area you're in and tell you what happy hours are available today, Tonight and tomorrow. Where did I come up with that idea? I just kind of threw it out there. Um, location based mobile applications are very popular. Kind of makes sense. Everybody likes happy hours. They're cheap. But it's also really hard to tell who has them where. So maybe this is something that would appeal to people who at the last second are thinking to themselves, Hey, I want to go get a beer and I want to do it cheaply. Um, it's a problem I've run into. And when you guys were thinking about ideas, it's not a bad thing if you pick something that you have an experience where there's something you have a problem with. So this mobile application in theory, we're just gonna call it Happy hour on your phone. It's not. That's just gonna working title, Um, and through the course, that's what I'm gonna be talking about. Um, and so that's what you'll see me use. So keep in mind happy hours for during specials on your phone. It's a mobile app. Whatever could be anything we're gonna use that going forward 4. Search techniques for finding competitors: lecture. We're gonna go over some of the basic techniques you can use to do competitive analysis. Now, it's not necessarily competitive analysis yet. What we're actually talking about in this lecture is how to find other competitors and how to effectively go about seeing whether or not people do exactly what you're proposing. To dio. It's quite obvious. Um, you would be amazed, though how many people when they enter into a startup idea or a business idea product idea , they don't do the basic research to look for something out there. What they end up doing is maybe spending a minute or two minutes just checking if something has the exact same name. Um, but I'm telling you right now, you need to go into a lot more depth in that when you are looking for a potential competitors. Now, when you do find a competitors, er is it important that you found one? And is it important how close they are to your idea? It just depends, Okay? It depends on what you're trying to dio. It depends on who you are, and it depends on what your level of commitment to this product or idea is So if I were, say, launching my mobile application for happy hours and I found someone who did the exact same thing, it would just depend. Competition is a good and a bad thing. If you find a competitor, that means that someone else has no has noticed that there's a problem as well. And clearly there's enough recognition of this problem that someone else has tried to build a solution. But on the flip side, it means that there is someone else trying to capitalize on that space. It might be crowded, it might be more difficult. And you might need more execution ability than if you are entering into a market that's completely empty and a market We weren't sure if anyone had any demand for, so it just kind of depends. Typically, I like to look at it as a positive. When I see a competitors, I think of it. It's good. It means that what I've the idea. I thought of the problem. I thought of solving It does exist and other people recognize it, so that's usually good. The thing that I think is going to differentiate Ah, essentially between what or not, this is a good thing to do or a bad thing to Dio. So what's going to matter when you do find a competitors, you just need to look at them on DSI whether or not they are something that you can beat, see what disadvantages they have, See what they're doing wrong. See what you could improve on? Maybe their idea is in the exact same. Maybe it's very similar, but you think you have a better shot at what they're doing? I would still continue with the test in that case, and obviously, if you see a company that's doing what you're doing, but they are not doing it very well. That's a great opportunity that establishes their just demand. But also, you can do it better than them. Okay, so I'm gonna show you really basic techniques. We're just gonna use Google, and I'm gonna show you some really simple stuff that can help you find other companies so well, such over the screen cast. So, really, all I would do is, uh, you know, typically, if I were to look for, say, my mobile application for happy hours, I would just search for it. Now there are some basic rules that you can use when searching online that can help you in many different ways. We're not gonna get advanced with the some of you guys know how to do all sorts of Boolean search queries and etcetera, etcetera. I'm not interested. OK, so what you would do is I would just pull up Google. We don't need to search for mobile application for happy hour specifically because that might not come up with something that we want Some basic skills would be like. For instance, I could say happy hours. But then specifically, what I would want is, I could say and put this in quotations. ITunes. Now, why did I do that? Um, I let's see. So I could say I tunes. Or I could say in this case, actually would want to say, Apple store. Um, okay, So the reason why I'm saying iTunes is because now if I put something in quotations, that means it's going to search for just that word. It's not gonna look for any permutation of that word. It's not gonna look for an eye over here and a tunes over here that so that means So if I had friends a phrase I wanted to look for, You know? How are you doing? I could put that in quotation marks. They look for that specifically, and it wouldn't look for those four letters of this forwards all over the page. Um, now, the reason why I'm saying iTunes is because if there's a mobile application and exist on Apple, they're going to have it on their iTunes website. So I'm specifically looking for iTunes, and I'm searching iTunes, looking for happy hours. Now, you can do this with Android as well. Where you would just say is play dot Google on. Do you could put that into it. I wouldn't put just Google because Google can show up in anything. They have all sorts of little code snippets. It'll show up on your site, so I wouldn't do that. But So right off the bat, we can see that here's one called happy Hours on the APP store and iTunes, and we can check that out. Okay, so I just opened a couple of them, actually, so we can just take a quick gander. See, this is what I found. I found right off the bat. ITunes preview. Happy hours. Here is an app, Um, and it looks like there's a pretty standard information on it. Um, and it looks, like, kind of basic. So I would have to get into this a little bit more to see if it does the exact saying. Same thing that I think it does, um, or what I'm proposing to do. But as you can see, someone else clearly does something similar. Here's another one that showed up is another one happy hour finder. Um, it looks getting very similar. So again, guys, we picked this idea just is an example to show you how to go through this. This is not actually idea that I would ever launch with. It's just a example. But as you can see, there's some, um, similar things in the space, and it seems like there's one other one that I can show you. So happy hour by hot spot. So in the next lecture will check some of these out, and then I can show you kind of a brief look at what are the opportunities around that space. Maybe we can figure out some way of beating them out, but regardless, that's one technique you can use. You can use the quotations to go directly into a space. Um, okay, so what you would want to do if you wanted to remove a search result? It's actually quite simple. You just put a negative sign next to it. So in this case, I can look for happy hours minus yelp. What that basically means is that whenever I'm searching, it should not give me any results that air from Yelp, which helps considerably because yelp they have a lot of kind of search clout. So they're going to show up on the front page if you search for anything related to retail stores or beer drinking or anything like that. So as we can see here that's removed Yelp. You can use these in conjunction. You can use quotations and minuses. This they're all sorts of things you can dio. One other cool trick you can Dio is, say already know competitors. What you can often do say it's a popular competitors. Ah, and you want to see what other up what other competitors air out there so that you can kind of get a Mork comprehensive look at it, what you can do is use Google's auto search complete, and it will actually kind of suggest to you what other people are looking at. So all you have to do is let's just say we're looking at Dropbox. I don't think any of you guys are gonna try to compete with Dropbox, but I could just say versus and now, as I can tell, why versus Google's are gonna tell me who their other competitors are, so I can just look at Box Google Drive iCloud. Give me a decent idea. You could do this for medium sized applications and small size applications. So if it's something that you notice is a competitor or is similar, this is something you can dio. A lot of times I will find a competitors. Er, they're not exactly the same, but I'm pretty sure someone in the space could be exactly what I'm doing. I'll look for that competitors use verses and then look at the other ones. So that's one way of doing it. Um, one other option you can use. A lot of people don't know how to use. This is, um, you can There are separate search engines out there. Google's not just the only one. There are other ones that are actually better for finding, say, startups. So I always go to edit black oh dot com. So what? Black Oh is. It's an alternative search engine. They've changed a lot recently, but they've left open their old search engine for us to use. That's all we're really concerned with. What Black oh was before was a search engine that goes through and tags listings for you and moves them into buckets. So what you can do is you can search for something, put a backslash and then say another word and depending on or they're not, they've defined that backslash group. It'll search only with that group. So if I wanted to look for something in a blawg space, I could do backsplash Blawg. That's something that's quite helpful and quite useful. They've changed quite a bit now, so remember your foot, edit dot black oh dot com and they have no intention of taking this down anytime soon. This is what I use. If I wanted to look for a company doing what I'm doing, I would say something like happy hours app, and then I would do a back slash and I could say anything I could say Startups, Um, like it's a mobile. You could say applications. What? It's gonna give you a different bucket of of searches, and you could look for also this is quite helpful. Fuel for news news will then give you a list of articles that are, you know, from journalists. And so I could say happy hours app and then look for news, See if any my competitors have gotten any press releases. And maybe if you're really trying to search and really trying to kind of, um, scraped the bottom of the bucket, you can actually find some. That way you confined. Maybe there are other ones. That tragedy in her market had a going out party and then disappeared. It's an East. It's an interesting way to do forensics based on whether other ah, companies existed or not. So as we can see here, there are some, um, or that showed up. We have happy hour. Pau. We've android app right here and looks like someone did a article on them. And it looks like this is go time, which was one of the other ones. I believe that we saw. Um Oh, here we go. Happy are finder. So a lot of these we wouldn't have been able to find, Hadn't we used black? Oh, and use these black Slash is you guys want to get into black? Oh, you can check it out. They have an f A Q and explain how all their backsplashes work. This is quite helpful over looking for specific things. And I don't want to get a big muddled search of Google results. Ah, lot of times you search for something and you get drowned out in the 1st 3 pages from something else that was very similar to it. And so once we start getting a sharper and sharper knife, when it comes to search skills, we really have to start using other services available. Another way. I like to look for competitors, believe it or not, is I just like to use blawg Specific search engines they're searching is out there that only Target Blog's now blog's are very popular for finding potential competitors because they're often covering other applications, mentioning them in some way. Or you confined blog's air in the knee, share the space air going into, and they're going to be talking directly about what solutions and problems are available. This is helpful in general, but another way that you can possibly run into something. Um and then you could possibly find a competitors. I don't actually know the name it of Tommy had, you know, it is it is literally blawg search engine. Um, so here's another one. Just offer is just like Google. But what I could just do is say, happy hours, and this is actually really helpful. If you ever wanted to go and say promote my happy hours applicants a happy hours and I could probably find a lot of blog's that are related to drinking or festivities or blah blah uhm soo, as we could see right here, actually right there. That's at happy hours app that's popped up again. But here otherwise and that we can see a lot of people have blog's King of Happy Hour D C. Chap. Happy hours, etcetera, etcetera. So use those three search engines in conjunction with themselves. There are a lot of other tips and tricks if you guys have some other tools that you use that can help you narrow down on companies definitely posting the group discussion one I like to use. If you want to look for a company that's actually big, it's just a website. This isn't a search technique, but you gotta crunch base dot com. Um, they don't have fantastic coverage, but if it's a startup, they've received funding. They should know about it. That's of course, if you're going in the product in the startup kind of route. But if you're just trying to build a product. Small idea. Small knee small space probably wouldn't use this, but for those of you who want to do startups use it. 5. Running a competition analysis: So in this lecture, I'm gonna show you some competitive analysis tools. Now that we've identified a potential competitors, er with our example idea, we're gonna go and do a little bit of a dive into some of the analytics tools that are available to show us, um, kind of what the relative position of our competitors A is. Now. Why is this important? It's important because you know, whether or not there's a strong competitive position in whatever space or kind of go into it can really kind of change your decision making process if you're okay with there being competition, Um, then it's good to know as much as you can about them what they're doing, what they're doing, right. Are they active? How did they start? Who runs it? Where are they physically, Um, and potentially if you can partner something like that. Um, Now, if you're not crazy about competition than what you're looking for is you're looking for weaknesses. You're looking for a defunct products. Um, perhaps something that they didn't run it very well. You just looking for something that says there's an opportunity for a new entrant. Um, so when we do this it's all kind of open ended. Like we're not looking for anything specific. I'm not gonna tell you that their specific metrics you're looking for I will tell you generally, though, if this is bad or this is good or what this typically indicates. But for the most part, it's up to you. This is all just information to help you understand this. And I usually suggest doing this every time you do find a competitors just so you can understand, you could use these tools across the board even what you go and launch your idea. There's you can do this to keep track of your competitors. Um, they'll some of these tools about to show you they can show you how to keep track of what they're spending where they're spending it. What press mentions that get? Are they doing a lot of social media activity, things like that. Those are relevant if you're trying to compete with someone else and you're kind of a direct head to head competition. Okay, so we'll go with screen cast. Okay, so over here, I brought up our example. Competitors now remember, there were tons of those happy hour applications, so I just focused on the number one, and we could just pretend like there's one competitors in most of these niche products ideas. You're really only have one competitor. I don't know how big you guys were going with your ideas, but I mean, it could be the case that, um, you know, you have lots of competitors. Some of them are really well funded. Um, but you could do these skills for pretty much anybody. Here's an example. So go time was one of the competitors in our Happy Hour mobile application. Um, as you can see, they do have a Web presence, and they have been pushing it quite a bit just from looking at their sight. Though I can tell that, um, they do a lot more than when you saw on their mobile application. See, right here is it says there's 33,000 happy hours nationwide. Now that answers a question for me before cause. Previously, we looked at their mobile application and only said they had 1000 in my area and I didn't allow me to search anywhere else. That's interesting, meaning that their mobile application automatically grabs my area. However, that is different than what we were proposed proposing. Um, that mobile app did not tell me specifically what's within a mile radius. Two mile radius. It was all kind of clunky. Um, and remember, the thing didn't even work. But as we can tell right here, we can see that, for instance, they are growing. Um, they're moving into Seattle. Um, and it kind of looks like Seattle is their new market. Um, and, well, you actually see something later, and we start looking at the analytics, you'll see that they're making a lot of motions in Seattle. Um, typically, I like to look at things like if they have anything on their blawg, um, or any information about them to look at the dates. So, like, here, for instance, this is from 2011 which is a little bit weird. Um, considering that we're now in 2015. Um, but for the most part, it looks like Yeah, you can see that they're launching in, um, Seattle. So you can also get a little bit of information about them. Um, this is all pretty much standard stuff. Ah, as you can tell, it looks like they're in 100 7 cities, which is interesting. So now it's just a question of whether or not their execution is correct. Or maybe they're doing a very good job. But my idea doesn't really matter. My idea is it only needs the work in one area to be successful. Everyone's definition of successful is different. Keep that in mind. You might have a much smaller ambition for your product, and you're perfectly fine with that. A lot of smaller ideas don't need to blow up. They don't need to be number one to make money. So even in mind looks like the last press mentioned they had was 2000 to 12 in the middle of 2012. So it's it's been a while, so it is a good chance that they ran out of steam or they might not be operating. Remember how we went back to their apple? We couldn't actually find any happy hour, so ah, itself is pretty interesting. So what were first gonna look at is we're gonna pull up a website called ECM rush dot com. This site is free, for you can use it. If you give them some basic information, you can use it for like a day passed that you need to pay. So we're keeping this obviously the focus of the courses on cheap, easy solutions. So we're gonna focus on ECM Russia's the free version. You're not gonna need to use it any more than maybe one day unless you're doing this in multiple ideas. At which point you might want to consider after getting a subscription. So Well, we can do here is we can just take, uh, just take the go time address, and we'll plug it into them, and they're gonna give you a swath of information. What I'm using them specifically for is I want to see what statistics I'd get about their traffic. I want to see what any firm information I get about where their advertising, um, keywords air. Quite helpful as well. Um Okay, So what we can tell here is these are all estimates keep in mind. But what's interesting here is so you can see that they have about 8000 people searching for them. I believe that is per month. Yeah. Um, So what? ECM rank already rushed? Sorry where he went and did is they took Ah, they track how many people search on Google and what keywords they search. They take all that information and they plug it back in their system so we can tell that organically 8000 people search for them. You can also tell that over a time period of the comparison last month, they're actually going down. What's interesting here is that they have no record of any paid search ads, meaning that there are no pay per click ads being run by this company. That's interesting. So what that tells me is that this company is only running organically. They're only going off of word of mouth that probably doing direct partnerships they're not paying for search 215,000 back links. That is actually not particularly, um, surprising, because we saw that they had over 10 or 15. Ah, PR mentions. Typically, when that happens, you will have the situation where people syndicate out those articles and then you can see it always just ricochets into a ba jillion back links. Display advertising as well didn't seem like they picked up anything from them. You can also see that there are predominantly in the U. S. We can see that this is where they get the majority of their organic traffic. From when I say organic, I just mean people going to Google and typing in this information so you can see Go time. Um it looks like, ah predicting 1000 people a month search directly for that. Um and then this is interesting right here. So they looked like they might have been launching recently in these three cities Fresno ST Louis in San Antonio Because those are very high in the list right now. Um, for instance, in Fresno, 260 people search for it. San Antonio 880. Um, you want to see the CPC meeting Cosper collect. So if you were to run an advertisement against that, that's what it's telling you. How much that would cost, which is interesting meeting that that's a very, very competitive space. And when we get into Google ads and Google AdWords later is a validation technique, you'll see that prices are are well will reflect that, and you have to be a little creative when you pick your keywords so that you can avoid some of these huge clicks because it's probably not even worth at that point. If someone's paying, you're gonna pay $4 for one person. Here's interesting on, and this is something that's very, very helpful. Previously had talked about search techniques to find competitors. Um, this is immensely helpful because I can just it can tell me other people they've identified as competitors. And that's helpful for a lot of different reasons because you want to know how many competitors are out there and you can't find all of them, but also the way that they do This is pretty interesting the way they you it is. They take keyword clusters on this go Times website and compare them to other websites. That's how they figure out that these people are probably competing based on see common keywords and search engine keywords. They can tell there's too much of an overlap for them not to be related in some way, and then they give you a competition level. So all of the stuff is in from is good information. Um, if you're just trying to get an idea of their positioning, what they're doing to spread this is very, very helpful. As you can tell here, um, they're getting quite a bit of referring domains. Looks like in San Francisco. Looks like in Phoenix. Columbus. Um, it would appear that these are the newest blog's that have been captured. Um, a lot of a lot of information. Um, what is helpful, though, Uh, anything else? That this is quite helpful, too, as well. This shows you how well they're showing up on organic search. This shows you. For instance, when you search, how many times are they in the top three search results. There's 100 different keywords of this show up for, um, in 4 to 10 which means they're still in the front page. But you in the second half of it, that's 1200. And then the second page that showed for almost 4000 keywords. So they're doing all right when it comes to search engine optimization. Of course. Keep in mind there's a lot of competitors, so they could be crowded out very easily. Um, over here, you can just see a vase. Basic kind of recap of some of the other things you've seen. They'll track how many positions they have, and we saw that, um, changes. They'll track how many changes they make over time will track how many competitors are competing in that space. Advertising research is interesting because they're not using ads, which could imply that they have a small budget. But we also saw that they were hiring, and we saw that they're in a lot of different cities, so they must just be spending their money elsewhere. Um, display advertising. This is always interesting to see whether or not you can capture them using display ads. Um, whether or not they're using banner ads or Facebook ads or etcetera display advertisers right now and then you could see whether not they show up. What you can do, though it's kind of helpful, is like say, if I was really only gonna focus my advertising strategy on mobile, I could just click over on one of these mobile resolutions, like the iPhone, and then see where they show up and see how many ads they're buying for. Memorable specifically. And then I can see how competitive that is, um, for my space specifically, so that's an interesting tool. There's a lot more you can do with it. You guys don't need a crash course in ECM Rush, nor do you need in the next website, I'm gonna show you. You just need to know how to do those basic things. Be able to look at it, quickly, get on getting an impression of it, right, Because we're doing rapid idea validation. We're trying to figure out very quickly whether or not it's a good idea or a bad idea. You don't want to spend days tearing through this information. It's just kind of give you impression. Strong position for your competitors, weak position for your competitors. What other problems? What are their strengths? So second website was in a show use very similar, but it's gonna help you a little bit when you try to target mobile applications specifically. So here's another one. You can get insights for any website or and I like about this or APP. So now the fact that I can look for an app that's quite helpful because a lot of these websites will only go after their website itself. And that's why I'm showing you this place so I can go mobile APS. And if I said state of time dot com, it's gonna give me information based off of that website in the iTunes directory. Okay, so what I can do is I can just go to mobile applications. I can search for go time, and then it automatically searches iTunes and Android. And right here, those are the two. So, Aiken, let's check out the IOS. Um, it's gonna give you some basic statistics, As you can see right here, it can pulls their rating for you. We can tell that they have a really, really bad rating, but the same time they have an enormous matter of views. So clearly they have a lot of distribution. Just a lot of people aren't thrilled with it. You saw previously in the previous lecture they don't have Ah, very impressive set up store ranking that just ranks where they would show up. Um, if you were to just to look at their generic category, That's a middle of the range kind of rank. Um, here's their store ranking. Over time, you can see what I'm not. They got more popular, less popular. It appears that they have been out since. Ah. Oh, sorry. This is Yeah. Um, what you can do is I can look. It is only lets me go back two weeks. But if you paid for it, you could go back years. Um, you also see that they only focus in United States. You see right here that they get a lot of search traffic and a lot of referrals. But not a lot of people focus on social. And you'll notice that because when we're on the website before ah, and also the mobile application, they don't have any sharing buttons, But that would make sense. They really are going for keywords. And they're also going forward. A mouth? Um, yeah. And so it can show you, for instance, like search engine keywords here. Um, and it'll show you, for instance, how many people found it? How did they find it? Um, and I'll show you a top mobile in store when they say in store, they mean apple store. So, um, you're the iTunes APP store, so this is interesting. They're getting a lot of cross over. A lot of people are finding at the restaurant dot com and a lot of just random things. Which is interesting because Apple stores search engines. Not very good. You'll notice that when you research for something the 1st 2 answers are relevant, and then the next two don't make any sense. And that's very much a problem with Apple iTunes. Um, but here you can see what they consider similar. Perhaps it's not particularly helpful. Um, but yeah, so that's helpful for us because it's giving us a mobile kind of breakdown. They wanted to I could use their same system and look at their Web version. But personally, I prefer ECM rush when I'm trying to analyze websites how strong their position is. Um, but you can use the both of these. This one's still like a light version. Um, and you can sign up and do a free trial if you want to get some of the pro features. But for the most part, I get all I want out of the free version. And so can you. Um, as you can see here, this gives you quite a bit of like geography. Drill down. This could be quite helpful. Um, see where you gotta actually sign up to see it, but, um, and you could see a lot of where the referring websites come. You can see that like this right here shows that they're getting a small amount of referrals from a lot of different websites, meaning that they're just getting press mentions. And it's a slow trickle. Yeah, so use these two tools in conjunction to get a much better idea of the relative strength and positioning of your competitors. This is helpful because it's online. We're concerning ourselves with idea validation online. Now, if you're trying to build a business, has an online presence, but it's primarily offline. You can still use these tools to see how strong the presence is online, but you'll have to actually spread out your search a little bit more and a little bit more of your due diligence towards Ah, the company's. In that case, you're gonna want to spend more time reading blog's reading news articles reading what other people say about their progress and also just looking at their website to see what they're saying about their progress. But if they have a significant online presence, the vast majority of websites do now. This is a great tool 6. The class project: Hey, guys, welcome back to the class. So in this lecture, we're just gonna cover the project for the class. So in order to do that, go to the bottom and click class project right here. I have ah, in depth description of what I got one you guys to do. What we're gonna do is really use the skills we learned in this class to go out and find some competitors and then do something analysis that we covered in the class. So the way that you want to do this is you're gonna take an idea that you have. You can take an idea somebody else has. You can take a fake idea that you just made up. You could take an idea of a riel website or mobile app to 30 out there. Um, if you can't think of anything, we have a pdf at the bottom right here where you can look at some of the generic ideas that I provided for you. I want you to take that idea, and then I want you to do use the skills I taught you to go and find some competitors and then analyze them. Really simple use ECM Rush. Use some of the Google and black Oh skills that we covered on. Then when you're done, come here to class project. Go to start your project, and I have questions that I just want you to answer. So really, it's simple. You just give me one or two sentence of whatever the idea is that you picked on and then tell me if you found potential competitors. If you didn't explain why you think that is me because it's a bad idea or you couldn't figure out do that for as many as you confined. You don't have to do it passed one or two. You know, if you only find one that's perfectly fine. I just want you to think critically about whether or not they are competitors. And what or not you think they're a big deal. That's the other question. Do you consider them to be a real competitors or not? Why, or why not? If you also prefer, I have a worksheet here attached at the bottom that you can use. This is much simpler way of doing it, and I have it set up here where you can just list out all the information you want. What? The idea is with competitors. And I have fake ideas that you can use right here on sickness. Use those and go and look for people that could be potential competitors. So when you're done, you can literally just copy and paste this. Or you can save this Azaz Ah, file and just put it in here and start your project and save it. And then I will see that we'll talk about it. Discuss. See what you did, right? See what you did wrong. All right. I hope you enjoy the class so far. 7. Keep the learning going: Hey, guys, I just wanted to say thank you for taking this class, and I hope you learned something. I hope what I said made sense. And I was clear, if you have any questions, any concerns, just posting the group discussion, all respond to you. You could even send me a direct message if you want to. I want to give you a quick word of how you could take the skills that we learned in this class and how to bring it to the next level. Learn some other related skills. So in this class, we covered how to drill down on your competitors, figuring out what they're doing and how to figure out whether or not they're a big deal or something you really shouldn't worry about. If you want to learn Maura about market research and figuring out what's out there and how to position your idea of a lot of the classes, you should check out what I suggest. Checking out is called to our M V P. Now that's one of my most popular courses, and I show you how to take an idea all the way from scribble on a napkin to the end game, which is a minimal, viable product and finally idea validation. That's when I definitely you should check out. I specifically brought that over to skill share originally taught it as one day in VP. Now I'm teaching us to our another. One worth checking out is creating landing pages with one bounce announces a very popular online marketing tool for using landing pages and testing messaging for your idea. Now, the idea behind this one is that, well, if you've taken my competitive analysis class, you probably have an idea, and you probably been researching other people. So maybe you figured out that your idea doesn't have competition or maybe not really concerned about the competition. How would you then go about testing whether or not your idea will flow in the market. Now, with unbalance, we can get in depth, and I can show you the tools we use to actually go out and create pages very quickly. Okay, If you want to go further with your skills, check those out. Otherwise again, thank you for taking the course