Market Research


 min read

How To Do Competitor Analysis With ChatGPT

November 26, 2023
tips, templates, gpts

How To Do Competitor Analysis With Custom GPTs

Competitor analysis is a critical activity for any business strategy, and with the advancements in AI, custom Generative Pre-trained Transformers (GPTs) offer innovative ways to gain competitive insights. Let's discover how small business owners can utilize custom GPTs to perform comprehensive competitor analyses.

Tool to try: For an example of a custom GPT that's trained to help you write Competitive Analysis reports, try our custom competitive analysis GPT here.

Customizing Your GPT for Competitive Intelligence

By harnessing the capabilities of custom GPTs, business owners can automate large parts of the competitor analysis process. Here's how to set up and utilize a custom GPT for this purpose:

  1. Define Your Competitor Set: Start by identifying who your competitors are. Upload a list of key players in your market to your custom GPT.
  2. Gather Competitive Data: Your custom GPT will then collect publicly available data such as pricing strategies, marketing materials, product descriptions, customer reviews, and more. This information will be sourced from competitors' websites, social media accounts, industry reports, and other relevant platforms.
  3. Customize and Train Your GPT: If you're building your own custom GPT fit for purpose, you can add additional details, background data and files to the 'Knowledge' section of your custom GPT, or just add text to the Instructions.

Performing the Analysis

Once your custom GPT is primed with the data, you can ask it to perform a variety of analyses:

  • Market Positioning: Determine where competitors are positioned in the market and how your business compares.
  • Pricing Strategy Evaluation: Assess how your pricing stacks up against the competition and identify opportunities for adjustments.
  • Feature and Service Comparison: Get a breakdown of competitors' offerings compared to your own, highlighting key differentiators and potential areas for improvement or innovation.
  • Content and SEO Strategy: Analyze competitors' content and SEO strategies to identify gaps in your approach and potential areas for content development.

Benefits of Using Custom GPTs

With custom GPTs, the process is not only automated but also deep-dived into nuances that might be missed manually. Other benefits include:

  • Time Efficiency: Completing this analysis manually can be time-consuming, but custom GPTs can provide insights almost instantaneously.
  • Up-to-date Analysis: Regularly updating the data fed to your GPT ensures your analysis stays current with market changes.
  • Scalability: Whether you’re analyzing a few competitors or several dozen, custom GPTs can handle the scale without additional resources.

Next Steps

Try creating your own Custom GPT for competitive analysis by heading to your ChatGPT account, clicking 'Explore' then 'Create a GPT'.

Or, if you'd like to try out our ready-made Competitor Analysis GPT you can do so here.