Can you imagine obtaining key information about your competitors, industry and trends and guiding them into decision-making? Well, this is just one part of what competitive intelligence encompasses.
Competitive intelligence can be developed and used to fully understand your business. Social media currently provides valuable information about preferences, doubts and opinions of consumers or potential consumers. As a result, it will allow you to understand them in depth.
In a context like the one we find ourselves in, where consumer habits , needs and expectations of customers have evolved as a result of the pandemic, it is essential to understand this new facet of our community.
What is Competitive Intelligence?
It is the ability to obtain and collect valuable information mexico phone number lookup free circumstances and factors that relate to the competitive advantages of a company.
As we mentioned previously, its ultimate goal is to provide relevant and necessary information for correct decision making.
These can be related to various areas of a company, including marketing, sales, customer service, among others.
What benefits does Competitive Intelligence bring?
It helps you identify your own and your competitors' strengths and weaknesses. This will allow you to anticipate their behavior and the initiatives they may develop.
Identifying them at convenient times will help you analyze possible opportunities and threats to develop a quick and effective response.
One way to use competitive intelligence is to analyze what the community needs, of course, both yours and your competitors' needs from a company in your sector or industry.
For example, a group of people indicate that one of your direct competitors' products should improve its packaging because it is not functional. One of your possible actions could be to optimize the flaws that users point out in your own product.