SaaS Competitor Analysis, with SWOT
A competitor analysis is only useful if it changes what you say or how you sell. Start with the competitors buyers mention, not the ones on analyst maps.
Which competitors should a SaaS company analyze?
Analyze the three to five competitors your buyers actually mention in sales calls, lost deals and reviews, plus any alternative such as spreadsheets that appears often. These are the options you are compared with. Competitors that appear in market maps but never in your deals can wait.
Tag competitor mentions in the CRM for a quarter. The count tells you where to spend research time, and the win rate against each tells you where the problem is.
How do you research competitors?
Research competitors from four sources: your own sales calls and lost-deal notes, public reviews from their customers, their website, pricing and documentation, and their job postings and announcements. Sales calls and lost deals matter most, because they show why buyers chose them over you.
| Source | What it tells you |
|---|---|
| Sales calls and lost deals | Why buyers compare you, and what tipped the decision |
| Customer reviews | What their customers like and complain about, in their words |
| Website, pricing, docs | Who they target, how they package, what they claim |
| Job postings, announcements | Where they are investing next |
How do you turn findings into a SWOT?
Turn findings into a SWOT for each competitor from your own point of view: your strengths and weaknesses against them, and the opportunities and threats they create. Keep each quadrant to three or four specific points backed by evidence. A SWOT full of general statements changes nothing.
| Northwind against Contoso (fictional example) | |
|---|---|
| Strengths | Faster set-up from the CRM; pricing fits teams of 5 to 40 sellers |
| Weaknesses | No custom reporting; fewer integrations than Contoso |
| Opportunities | Contoso reviews complain about set-up time and minimum contract size |
| Threats | Contoso is adding a lighter plan aimed at smaller teams |
Each line should lead to an action. Here: lead with set-up time in messaging, target teams below Contoso’s minimum, and prepare sales for the new lighter plan.
How do findings change positioning and sales?
Findings should change three things: the positioning, which alternative you lead against and why; the sales approach, how to answer each competitor in a call; and targeting, which segments to focus on or avoid. If the analysis does not change any of these, it has not been finished.
Write a one-page battle card per competitor for sales: when you win, when you lose, the questions to ask, and the proof to show. Update the positioning and review competitor keyword choices in the Google Ads guide.
Research the deals you lost, not the websites you admire.
Buyers tell you exactly why they chose someone else. Read those notes before reading any competitor’s homepage.
Frequently asked questions
How many competitors should I analyze?
Three to five that buyers actually mention, plus any common alternative such as spreadsheets.
How often should competitor analysis be updated?
Review mentions and win rates every quarter, and update battle cards when a competitor changes pricing or launches something relevant.
What is a battle card?
A one-page guide for sales on a competitor: when you win, when you lose, questions to ask and proof to show.
Is a SWOT analysis still useful?
Yes, when each point is specific, evidenced and leads to an action. General SWOTs are not useful.
Where can I find honest information about competitors?
From your own lost deals, their customers’ public reviews, and their pricing and documentation.
Should I publish comparison pages?
Yes, if they are accurate, fair and dated. Buyers searching for alternatives expect them.