Every entrepreneur dreams of launching a business in a market with no rivals; however, such a scenario exists only in fiction. The reality is that every venture, no matter how innovative or revolutionary, faces a flow of direct and indirect competitors.
Are you a startup founder trying to win investor’s trust? Then, you must study competitive threats and opportunities to succeed. Venture capital funding always goes to startups with clear and well-articulated competitive advantages. Investors prioritize those with a deep understanding of their market position and perspective to outmaneuver their rivals. So, let’s discuss how to conduct competitor research for pitch deck and present it in a way that truly stands out!
You may have a brilliant business idea and even sincerely believe you are offering something unique. However, dig a bit deeper into the market, and you will surely discover that someone else was faster. Investors know this reality all too well, which is why the competitive analysis for pitch deck is a critical slide. It is your opportunity to demonstrate market awareness and strategic thinking. Investors are not only interested in what you offer - they want to know how your offering stacks up against existing solutions. A well-prepared competitive analysis shows that you have done your homework, understanding who your competitors are, what they do well, and where they fall short.
Yet, many startup pitch decks lack a detailed competitive analysis due to different reasons. These include overconfidence, fear of negative perception and lack of research. Sometimes, this can be a strategic decision, but it's often a risky one - investors might consider it as a sign of business immaturity. A deep competitor analysis pitch deck slide has a number of benefits:
Shows market knowledge. It tells investors you understand your industry and key players, building their trust.
Demonstrates your uniqueness. Competitor comparison helps you clearly articulate your unique selling propositions (USPs) and differentiate yourself from the competition.
Proves your strategic thinking. It shows you have a smart plan to beat the competition and seize opportunities.
Reduces investor risk. The ability to see potential challenges upfront allows investors to feel more confident and less worried about risks.
Overall, investors are attracted to startups that know about difficulties and are not afraid of fighting them, and this is what you can display in your market competitors analysis pitch deck.
It is a broad term. According to the Cambridge dictionary, competitive analysis is “the process of comparing the strengths and weaknesses of your own business or product to those of other businesses, in order to make your business or product more competitive”. Actually, it encompasses a variety of activities:
The above process sounds simple. However, analyzing competitors is a scrupulous process that needs time and effort. Let’s examine the critical steps deeper in order to craft a competitor comparison matrix.
1. Identify competitors
First, you need to know your “enemy.” Start by listing your direct competitors - those who offer similar products or services to the same target market. Next, consider indirect competitors, who may not offer identical products but still fulfill similar customer needs or serve the same audience. This can include alternative solutions or different approaches to solving the same problem. Don’t forget to include potential future competitors who could enter the market.
Investor’s advice. Do not waste time on irrelevant competitors, as there are tons of them. Focus on 2-3 companies that your target audience and investors might know. It is enough to include one major competitor and two smaller ones. Tools like Score My Deck can help you identify key competitors in your industry.
2. Collect data
Now, analyze how your competitors operate. You can obtain this information from a variety of sources like competitor websites, industry reports, customer reviews, and social media. Prioritize products and customer base analysis, marketing and pricing strategies comparison. Pay attention to any recent developments like new product launches or shifts in their strategy. This data helps you better understand how to position your business more effectively.
Investor’s advice. Use competitive intelligence tools like SimilarWeb, SEMrush, or Ahrefs to track what competitors are doing online, see how much traffic they’re getting, and learn about their SEO strategies.
3. Analyze competitor strengths and weaknesses
With data in hand, take a closer look at what each competitor does well and where they underperform. Check out their strong points, like high-quality products or great customer service, and also note any weaknesses, such as outdated technology or negative reviews. This helps you find areas where your business can stand out and improve. Knowing your competitors' strengths and weaknesses is key to spotting opportunities to make your business unique and stay ahead in the market.
Investor’s advice. Consider using SWOT analysis in pitch deck competitor slide. It covers four sides:
4. Evaluate market positioning
Use this rough checklist to build a positioning map of your competitors:
Investor’s advice. A well-presented overview of competitor market share analysis will quickly reveal gaps that your business can fill. Don’t miss the chance to demonstrate how effectively you can address these gaps and capitalize on opportunities.
5. Assess competitive advantages
Even if your competitors are strong and successful, there is always a tiny thing everyone misses. Your ultimate task is to find that gap and offer a solution. What is your winning feature? This could be anything from superior technology, better pricing, stronger brand loyalty, or exceptional customer service. Identify the area where your business can be the best and craft a strategy to surpass your competitors.
Investor’s advice. You can literally show it - visualize your competitive advantage. Use a table format, with competitors listed across the top and key benefits down the side. Use check marks and numbers to make the information easy to scan.
6. Compare key metrics
The last step is to compare the key metrics of your competitors. Check important numbers like sales revenue, market share, growth rate, and customer satisfaction. This helps you see how your business stacks up against others and find areas to improve. By comparing your performance to industry leaders, you can set realistic goals and plan for growth. Tracking these metrics over time keeps your competitive analysis up-to-date and ensures your business stays on top.
Investor’s advice. Make sure to select key performance indicators (KPIs) that are relevant to your industry and business goals. Besides, be ready to interpret the data and prove your competitive position. A clear understanding of their market position is a sign you have potential for long-term success.
Gathering details for a competitive landscape pitch deck slide is a complicated process, yet it is only half the battle. How to arrange this amount of data to make it compelling and informative? Poor pitch deck presentation is a killing verdict for a startup. Investors do not have the time or desire to sift through lengthy reports. They prefer concise, clear, and engaging presentations that quickly convey key information. In addition, research indicates that 94% of first impressions are design-driven. So, how should your competitor slide look like?
Do not forget the main idea – your competitor slide should show where your business stands out and emphasize unique features and advantages.
Competition is a delicate thing. So just one mistake can spoil all the hard work done. What are the taboos for a competitor slide in a pitch deck?
Today, you have access to a variety of digital instruments that will simplify the process of competitor research and comparison. Here are just some of them:
You will also find many online resources with free and paid competitive analysis templates. Consider Slidebean, Beautiful.ai, Visme and Envato Elements.
In the entrepreneurial world, knowing your competition is just as vital as knowing your own business. It is even more important when your startup is seeking funding. When creating a pitch deck for a potential investor, devote special attention to a competition slide. Pack it with insights, data and strategic advantages your business offers.
This slide is not just about who you are up against - it’s about showing why you stand out. Make sure it is professionally designed and contains easily scannable visuals. If you need assistance, DreamX’s design team is just a call away. Don’t hesitate to reach out - we are always ready to help and bring you closer to success!
Competitors slide pitch deck mastery – tips for startup founders
Iryna is a UX/UI designer with a keen eye for detail and a strong understanding of user needs. Her expertise lies in crafting intuitive interfaces that make complex concepts easy to understand.
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