What to Include in a Competitive Analysis Scope of Work
If market research, SWOT analysis, and strategy recommendations are your jam, then you probably offer competitive analysis services as a freelancers.
Before you send your next proposal, check out our top competitive landscape scope of work template so you know exactly how to charge for your services.
Welcome to Scope Smarter, Not Harder, a series from Wethos highlighting our services and scope of work templates. In this installment, we’re highlighting our Competitive Analysis scope of work template!
Wethos users have access to over 70 scope of work templates and 800 services ranging from brand strategy to social media and design. Our scope of work tools streamline your proposal process so you can skip the freelance pricing mistakes and get to work.
Here’s our breakdown of a Competitive Analysis scope of work so you know how to charge for your next project!
Please note that our pricing recommendations are powered by tens of thousands of data points, all from real studios on our platform. If you have feedback on the pricing below, please let us know! We always want our system to become smarter with your help.
Competitive Analysis Scope of Work
Phase 1: Discovery
Before you dive into competitor analysis, you’ll start by getting a feel for your client’s market. Conduct market research to identify trends, brands, and customer sentiment. Put your research into one report, which our scope of work template recommends pricing as its own deliverable.
The discovery phase will also include an audit of competitors. Audits are commonly overlooked freelance services, so don’t forget to bill for your time and energy spent auditing! Research the client’s competitors to identify opportunities for the client to differentiate their brand or offering in the market. You’ll compile your findings into one report for the client.
Phase 2: Execution
Now it’s time to execute your findings from the first phase. Dive deeper into competitor analysis to identify more details about the client’s competition. You’ll take a look at pricing and business models, sales, and methods of operation.
You’ll also review the landscape analysis to understand the needs and opportunities emerging from stakeholder interviews. Put your findings into one report for this project.
Phase 3: Collaboration
You can never go wrong with a SWOT (strengths, weaknesses, opportunities and threats) analysis. After performing the SWOT analysis, put together your findings in a report.
This phase also includes the facilitation of a design thinking workshop. This is priced higher than a meeting or walk-through because workshops require a ton of time and prep work. The design thinking workshop will help narrow down ideas for innovation in preparation for user testing and validation.
Phase 4: Presentation
The competitive analysis scope of work wraps up with a presentation of your recommendations based on the market analyses and the SWOT workshop you conducted earlier in the project.
Based on the competitive market analyses and the SWOT workshop, make a competitive strategy recommendation that lets the client know how they can position themselves for success, and what the roadmap might look like.
Once your scope of work is approved, you can easily turn your proposal into an invoice when the project wraps up.