Eight great reasons for Competitive Intelligence

In this article named eight great reasons for Competitive Intelligence, we offer our definition of Competitive Intelligence and provide you with our thoughts on it’s uses will influence:

  • How you operate and how your people function
  • How your processes work
  • And how you are all performing
  • How are you selling
  • How you put Competitive Intelligence at the heart of your business to ensure you are not cast adrift by:
  • The activities of your competitors
  • By changes in your market
  • By the ever-evolving expectations of your customers

Competitive Intelligence answers these and many more questions. But what is Competitive Intelligence?

What is Competitive Intelligence?

1. Who is your competition?

What about the next leader in your market who is currently building a world beating solution in her back bedroom? So, are there businesses unknown to you at present who are beginning to impinge on your territory? What about new market entrants? Also, are you fully up to speed with how they might threaten your current position? Our Strategic Intelligence services answers these questions.

2. Where are your competitors weak?

It’s important to identify your competitors’ Achilles heel. In our experience they all have one. It may take a bit of digging. You may need to ask questions where they’re not normally asked. But arming yourself with knowledge of your rivals’ weaknesses is one of the most powerful marketing assets you can have.

3. How is your marketing evolving?

4. How deep does it go?

5. What unique space can you occupy?

6. How are your customers changing?

What does this mean for your customers? How are you responding to the promise of immediate gratification delivered by so many online businesses? How are you shaping up in the era of product being required to say something unique not about you, but about your customer? And how are you making plans for meeting future consumer trends, the seeds of which are being sown all the time in all kinds of places? If you are to outlast your competitors you need to really know what your customers want, how you make yourself even better by refining your products for them.

7. How are you protecting your future?

8. Is your offering missing any tricks?

Summary

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