To analyze your competitors effectively, start by identifying who they are. Look at the services they offer, their pricing, marketing strategies, and customer reviews. You can learn a lot from their strengths and weaknesses. Staying updated on their activities can give you insights into new trends or changes in the industry. Also, understanding what makes your service unique can help you stand out. Tools like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) can be useful in competitor analysis.