What are the best tips for collecting competitive intelligence?
Competitive Intelligence is a process that allows companies to collect information about its operating industry or market. The collection of competitive news helps society to define current and future competitors, the actions of these companies now and in the future, what the end result of these actions and how to respond. The best tips for collecting competitive intelligence include the transition beyond the basic search methods, gaining customer feedback and changing or monitoring hiring. Most companies can participate in these activities themselves. The use of reliable individuals to collect data is necessary to ensure all information meets the needs of the company.
The Internet provides many competitions for competition research. However, relying on this instrument can prevent companies from collecting competitive intelligence that actually means something. Companies should look for other ways to collect information such as the supplieré, customers and former Employees. Third parties often have a variety of information that can be willing to give up freely. The hardest problem here can be simply finding the right source outside the Internet from which information is obtained.
Customer feedback is often a good source for collecting competitive intelligence. The company can use a survey or other traditional means to ask customers of direct questions about competitors. For example, an e-mail survey may request information from customers about what other businesses they are sponsoring. The purpose of these purchased visits and products can also be information that is worth gathering here. There may be other questions due to the timeliness of the survey or current market conditions.
hiring competitors can also be a reason for collecting competitive intelligence. For example, if a competitor starts hiring engineers, MOhlo would mean that the company is preparing a new product. A company collecting competition must then find out why and what it intends to do. Then the company can change its operations or hiring procedures to reflect further business if it wants it. This intelligence can also work for many other aspects.
collecting competitive intelligence is often a continuing process. Companies rarely face a small or no competition market. Therefore, the establishment of a business process or activity for continuous monitoring of competitors can be useful. Improvement of this process is also a task that needs completion. Without specifying, the company can start collecting data or information that is worthless, so the process will cause the process.