Competitor research goes in hand-by-hand with the market research itself.

Today’s SaaS market is very competitive & you will get eaten by your competitor if you start to copy them 1:1.

What you should do is the following:

1. Find what they do really bad & make it your unique selling proposition
2. Look for online reviews about their product & read the bad ones
3. Double down on 1-2 features on which their customers are complaining on the most
4. Market your product with only that 1-2 features in mind
5. Example headline on your landing page: “[YOUR SAAS] - A [COMPETITORS FEATURE] that works”.

You should also take your competitor’s pricing model into consideration:

• Analyze their pricing structure - are they using a flat rate / freemium / per user / per usage model?
• Can you go lower?
• Can you create 1 feature that is really important & go higher?

Taking these questions into the consideration will help you understand revenue & profitability.