A Guide for Memberships, Workshops, Consultancies, Courses, and Experiences

In today’s crowded digital landscape, standing out as an online service business—whether you offer memberships, workshops, consultancy services, courses, or unique experiential offerings—requires more than just a solid idea. Competitor research is an essential step to ensure that your service doesn’t just blend into the background. By understanding who else is out there, what they’re offering, and how they engage with audiences, you gain critical insights that allow you to craft a distinctive value proposition that resonates with your target market.

In this article, we’ll dive into the methods and strategies for conducting effective competitor research specifically for online service-based businesses.

You’ll learn how to identify your direct and indirect competitors, analyze their offerings, spot gaps in the market, and use these insights to refine your own services. Armed with this knowledge, you’ll be ready to build a competitive edge and attract the clients who align perfectly with what you offer.

For service-based businesses like memberships, workshops, consultancies, and courses, competitor research requires a tailored approach. Unlike traditional products, services often rely on trust, community, and unique value delivery. Understanding how others operate in your space will help you anticipate client needs, differentiate your services, and position your business as a go-to solution.

Define Your Unique Value and Audience

Before diving into competitor research, it’s essential to have a clear understanding of your own unique value and the audience you’re aiming to serve. By defining what sets your service apart, you’ll be better equipped to identify who your competitors truly are, as well as the specific needs and expectations of your potential clients. This initial clarity will help you focus your research on the most relevant aspects.

Clarify Goals and Offerings

Start by outlining what your online service business provides. Are you offering a membership that fosters community and ongoing learning? A consultancy service that offers personalized guidance? Or perhaps a workshop series focused on practical skill-building? Think about the primary value that your service brings to the table. What problem does it solve for your audience? By being specific about the benefits of your offering, you’ll have a solid foundation to compare against similar services.

Identify Your Ideal Audience

Knowing exactly who you’re aiming to serve is just as important as defining your service itself. Spend time profiling your ideal audience: What are their goals, pain points, and needs?

For instance, if you’re targeting female professionals in marketing or tech who seek support in starting a business, they may value networking, accountability, and practical steps to grow confidently. This clarity allows you to focus on researching competitors that are most likely to appeal to the same audience.

Determine Your Research Intent

Finally, set clear objectives for your competitor research. Consider the following questions:

• Who are the main players in your niche? Identifying direct and indirect competitors helps you understand the options your target audience has and the landscape you’re competing in.

• What gaps exist in the market? Understanding where current offerings fall short allows you to spot opportunities to fill unmet needs.

• What strategies and approaches are successful? By analyzing competitor offerings, you can gather ideas on pricing, engagement, and content that could enhance your own approach.

With a well-defined value proposition, audience profile, and research intent, you’re ready to dive into the world of competitor research with focus and purpose.

Types of Competitors to Research

Understanding the different types of competitors is a crucial part of effective competitor research. By looking beyond just businesses that offer the exact same service, you can gain a fuller picture of the landscape. This approach helps you uncover both direct and indirect influences that could shape your target audience’s choices.

Aim to research a mix of 6-9 competitors to gain a well-rounded understanding. Here’s how to structure your research:

Research 3-4 Direct Competitors

These are businesses that provide services very similar to yours and cater to the same audience. For example, if your business offers a membership community for women in marketing, a direct competitor would be another membership-based community targeting female marketers, possibly offering similar resources, networking opportunities, and support.

Why they matter: Direct competitors give you the clearest insight into how similar businesses position themselves, what value they emphasize, and how they price and deliver their services. By understanding their strengths and weaknesses, you can pinpoint areas where you can differentiate and offer unique value.

Research 2-3 Indirect Competitors

Indirect competitors provide solutions that address similar needs, but they do so in a different format or style. If you’re offering a tailored workshop for women breaking into entrepreneurship, an indirect competitor might be a self-paced online course or a general business development program. These alternatives may not match your specific offering but still appeal to your target audience by addressing their broader needs.

Why they matter: Indirect competitors help you understand what other resources your audience might consider. Even if they’re not offering the same service, these competitors shape expectations and provide insight into what your target audience values (e.g., flexibility, affordability, specific focus areas).

Research 1-2 Substitute Solutions

Substitute solutions aren’t competitors in the strictest sense, but they provide alternative ways for your audience to achieve their goals. For instance, a one-time workshop or a standalone e-book on business strategy may attract clients who might otherwise consider an ongoing membership. Substitute solutions are often simpler, one-time commitments that may appeal to those hesitant to join a longer-term program.

Why they matter: Substitute solutions can shed light on potential barriers for your audience, such as time commitment, cost, or uncertainty about the value of ongoing engagement. By identifying substitutes, you can address these concerns in your messaging, positioning your service as a valuable and necessary choice.

Exploring all three competitor types—direct, indirect, and substitute solutions—gives you a complete understanding of your market. This broad perspective helps you refine your offering, messaging, and value proposition to stand out in the eyes of your ideal clients.

Identify Keywords and Phrases to Guide Your Search

Finding the right keywords and phrases is essential to effective competitor research. By selecting specific terms that reflect your service, audience, and industry, you’ll be able to identify relevant competitors, industry trends, and alternative solutions that your potential customers might explore. Here’s how to develop a strategic list of keywords, hashtags, and phrases to guide your research across different platforms.

Keyword Brainstorm

Start by brainstorming a range of keywords and phrases that are closely related to your online service business. Consider words and terms that describe your offering (e.g., “accountability group,” “membership for entrepreneurs”) as well as those that highlight the target audience (e.g., “women in tech,” “marketing professionals”). Think broadly to capture various aspects of your service, including its benefits, audience, and unique characteristics.

Examples of Keywords:

• “Business accountability group”

• “Women’s professional network”

• “Entrepreneurship support community”

• “Online membership for business growth”

• “Networking for women in [specific industry]”

Platform-Specific Terms

Each platform has a distinct search behavior, so tailoring your keywords and hashtags for specific channels can make your research more effective.

• Google: For broad competitor identification, use general keywords like “online business coaching for women” or “entrepreneurship membership program.” Combine keywords with specific needs or audience descriptors, such as “accountability community for women in business.”

• LinkedIn: For business-focused competitor research, use terms like “professional network for women,” “business mastermind group,” and “consulting services for female entrepreneurs.” LinkedIn is especially useful for finding consultancy and network-based services.

• Instagram: On visually driven platforms, hashtags are essential. Focus on hashtags that your audience or similar businesses use, such as #WomenInBusiness, #EntrepreneurCommunity, or #AccountabilityPartner.

Example Keywords and Hashtags

Here are some sample keywords and hashtags categorized by platform to help you get started.

• Google Keywords:

  • “Membership for entrepreneurs”

  • “Female business coaching programs”

  • “Online community for women in tech”

  • “Networking for female professionals”

• LinkedIn Keywords:

  • “Professional development network”

  • “Consulting for women in marketing”

  • “Accountability group for entrepreneurs”

  • “Mastermind group for female business owners”

• Instagram Hashtags:

  • #WomenInBusiness

  • #FemaleEntrepreneurs

  • #BusinessAccountability

  • #EntrepreneurSupport

  • #ProfessionalNetwork

Using a diverse range of keywords and phrases ensures you cover all relevant areas of your industry and audience needs, allowing you to gain a comprehensive view of your competitive landscape. As you refine your search, experiment with combining keywords to see which combinations reveal the most relevant results.

Check this reel to view our ChatGPT prompt to find the necessary keywords and hastags for your business.

Analyze Competitor Offerings

Once you’ve identified key competitors, the next step is to dig into their offerings. Understanding what competitors provide, how they engage their community, and their pricing strategies will help you identify opportunities to stand out. Here’s how to systematically analyze the key components of their services to gain insights for your own online service business.

Assess Product Features

Start by evaluating the main features of competitors’ services, such as the types of content, resources, and tools they offer. For each competitor, examine how their services are structured to deliver value to their customers. Key aspects to consider include:

• Type of Content: Do they provide video lessons, live workshops, downloadable resources, or interactive sessions?

• Content Depth: How comprehensive is their offering? Are courses or memberships beginner-friendly, or do they offer advanced, specialized training?

• Frequency and Format: For memberships and workshops, assess how often they provide new content or host live events. Weekly sessions, monthly masterclasses, or one-time workshops are common formats, each appealing to different types of customers.

Understanding the specifics of what competitors offer will help you identify features you could add or improve in your own service to better serve your target audience.

Evaluate Community and Engagement

Community is a crucial component for online services, especially for memberships and workshops. A vibrant, active community adds value by providing members with support, accountability, and networking opportunities. To analyze how competitors foster engagement:

• Community Platforms: Determine where competitors host their communities (e.g., private Facebook groups, Slack channels, dedicated membership sites) and the types of engagement features they use (e.g., forums, live chats, messaging).

• Interaction Levels: Observe how active and interactive their communities are. Are there regular posts, discussions, or live Q&A sessions? Are members actively participating and engaging with each other?

• Content to Drive Engagement: See if they offer special events, challenges, or networking opportunities to keep members engaged and motivated. Examples might include weekly goal-setting sessions, accountability check-ins, or exclusive member events.

Analyzing community engagement helps you understand what keeps members invested and involved in similar offerings, giving you insights into what you might replicate or adapt to enhance your own service.

Identify Pricing Strategies

Pricing is another critical factor to assess, as it influences how potential customers perceive the value of your service. By analyzing competitor pricing models, you can find ways to differentiate yourself and potentially attract a broader audience. Key elements to evaluate include:

• Pricing Tiers: Many services offer tiered pricing (e.g., basic, premium, VIP), with each level providing different access or benefits. Look at how competitors structure these tiers and what is included at each level.

• Payment Models: Note whether they use subscription fees (monthly or annually), one-time fees, or pay-per-event models. Understanding these options helps you decide which payment structure might be most appealing for your target audience.

• Incentives and Discounts: See if they offer promotions, discounts, or bonuses for signing up. Examples include early-bird discounts, free trial periods, or bundled offerings (e.g., access to a workshop series at a discounted rate).

Identifying how competitors price and package their offerings allows you to explore opportunities for differentiation, whether through unique pricing options, additional bonuses, or alternative payment plans that better suit your audience’s needs.

Look for Market Gaps and Opportunities

Once you’ve analyzed competitors, the next step is to identify gaps and opportunities in the market that your service could uniquely fill. By spotting unmet needs, potential value additions, and common customer pain points, you’ll be able to refine your offering in a way that resonates with your audience and sets you apart.

Service Gaps

One of the primary goals of competitor research is to identify areas where competitors fall short or where a specific niche remains underserved. For example, you may notice that while there are many memberships focused on general entrepreneurship, there may be few options catering specifically to women in tech or those interested in accountability and ongoing mentorship. Identifying these service gaps allows you to shape your offering to fill those unmet needs and attract a unique segment of your target audience.

How to Spot Service Gaps:

• Look for commonalities in competitor offerings and see if there are any essential services or topics they aren’t covering.

• Consider niche needs within your industry (e.g., more specialized content for advanced users or exclusive support for certain professional backgrounds).

Value Additions

Adding or enhancing specific features in your service is another effective way to stand out. If most competitors offer static content, consider providing more interactive options, such as real-time support or live Q&A sessions, that encourage deeper engagement. Offering personalized resources, direct feedback, or accountability check-ins can further differentiate your service and create a more valuable experience for members.

Ideas for Value Additions:

• Real-Time Support: Consider hosting live sessions where members can interact with experts or coaches in real-time.

• Accountability Structures: For membership programs, adding a structure like weekly check-ins, goal-setting sessions, or accountability groups can increase commitment and results.

• Specialized Content: Tailor your content or services to address specific pain points or niche interests not covered by competitors.

Feedback Analysis

Customer feedback is a valuable resource for uncovering both strengths and weaknesses in competitors’ services. Analyzing reviews and testimonials can provide insight into what customers appreciate or dislike, giving you a clear understanding of where competitors fall short. By addressing common complaints (e.g., lack of engagement, high costs, limited support), you can design your service to directly address these pain points.

How to Analyze Feedback:

• Read Customer Reviews: Browse competitor reviews on social media, Google, or dedicated platforms, looking for both positive comments and recurring frustrations.

• Identify Pain Points: Note any patterns in complaints or requests for features that competitors don’t provide, such as insufficient support or overly generic content.

• Incorporate Customer Preferences: If customers consistently praise certain features (e.g., interactive sessions or community support), consider how you could implement or enhance these elements in your service.

Apply Findings to Your Business Strategy

With a clear understanding of the competitive landscape, it’s time to apply these insights to your business strategy. Use your findings to enhance your unique value proposition, refine your messaging, and make strategic improvements that align with customer needs and set your business apart.

Differentiate Your Offer

One of the most impactful ways to use competitor insights is by differentiating your offering. Look at where your competitors succeed and where they fall short, then identify how you can uniquely position your service to stand out. If competitors lack real-time support, for instance, consider making this a core feature of your membership or course. Likewise, if you notice a gap in services for niche audiences (e.g., accountability programs tailored for women in tech), highlight this aspect in your offerings.

Tips for Differentiating Your Offer:

• Highlight Unique Features: Emphasize specific elements that competitors don’t offer, such as live sessions, accountability structures, or industry-specific resources.

• Showcase Specialized Expertise: If your experience or background is a differentiator, make it a focal point in your positioning and highlight how this expertise benefits your audience.

• Emphasize Tangible Benefits: Shift the focus to outcomes, such as “community-driven accountability” or “real-time expert support,” to convey how your service offers real, actionable value.

Refine Marketing Messages

Competitor research can reveal strengths and weaknesses in their messaging, allowing you to craft marketing messages that resonate more effectively with your audience. For instance, if competitors position their offerings as “self-paced” but lack community support, you can emphasize that your service provides both expert guidance and real-time interaction. Adjust your language to focus on how your service uniquely addresses specific pain points.

Ways to Tailor Your Messaging:

• Highlight Unique Benefits: Emphasize how your service solves a common frustration or provides added value that competitors lack.

• Incorporate Customer Language: Use language that resonates with your target audience, derived from competitor reviews or feedback. If customers frequently mention feeling isolated, position your service as a supportive, community-centered option.

• Address Pain Points Directly: Acknowledge gaps found in competitor offerings and present your service as a solution. For instance, “Unlike other memberships, we provide live Q&A sessions to give you real-time support.”

Strategic Improvements

With a clearer view of the competition, consider which changes or enhancements could elevate your offering. Focus on adjustments that align with customer needs, such as improved content delivery methods, unique engagement structures, or added flexibility. Prioritize these improvements based on potential impact—start with changes that directly address common customer complaints or unmet needs identified during your research.

How to Prioritize Improvements:

• Rank Changes by Impact: Begin with features that directly address gaps in competitor offerings or meet highly valued customer needs.

• Focus on Easy Wins First: If there are straightforward additions you can make (e.g., incorporating an accountability structure), implement these changes first to quickly enhance your value.

• Plan for Long-Term Differentiators: For more complex improvements (like developing a community platform or personalized support features), create a roadmap that allows for gradual implementation over time.

Summary

Competitor research is more than a one-time task—it’s an ongoing process that can guide your business growth, inspire adaptations, and keep your services aligned with market needs. By continuously observing your competitors, analyzing their offerings, and identifying gaps and opportunities, you can stay proactive in refining your own unique value and enhancing your service-based business.

As you embark on competitor research, start with clear, actionable steps: define your unique value, identify the competitors that matter most, and analyze their offerings, engagement strategies, and pricing. Use these insights to enhance your own service, refine your marketing, and prioritize meaningful improvements. Remember to revisit your research regularly, staying informed of any new trends, shifts, or opportunities that arise in your industry. This proactive approach will ensure that your business not only stands out today but remains resilient and relevant in the future.

Take the first step in your competitor research journey—and let the insights you gather inspire strategic growth and a stronger market position. Check out our competitor checklist, ChatGPT prompt and tools to help you with your competitor analysis here.