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Most businesses know their own strategy through and through, and recently, more companies than ever before are investing in competitiveintelligence. This brings us to a concept called competitivebenchmarking, which is critical to competitiveanalysis success. What is CompetitiveBenchmarking?
The ubiquity of marketing activity across platforms like Twitter and LinkedIn has given rise to social media competitiveanalysis—an exercise that companies undertake in hopes of improving their own strategies. What is social media competitiveanalysis? Present your analysis. Create your template (or use ours).
This article is a part of our competitor analysis resource center. Visit the complete competitor analysis resource center for more content like this. Competitor analysis is crucial to any marketing and production strategy. Competitiveanalysis promotes better market reactions, product price setting and marketing strategy.
Crayon’s marketing manager, Emily Dumas , argued in a new blog post that it is not enough for companies to simply collect competitiveintelligence like product information, revenue information and marketing campaign information when conducting a competitiveanalysis.
In a blog post, Harvey Ranola , director of demand generation and global strategist of media intelligence at NetBase Quid, explored the role of competitiveanalysis and research in marketing. According to Ranola, competitive intel allows companies to know how their brand is perceived relative to the competition.
Competitiveintelligence (CI) services offer businesses valuable insights into their market and competition. Competitiveintelligence services: What is it, and why do you need it? Competitiveintelligence (CI) involves gathering and analyzing information about your competitors and the market.
Information you collect about competitors and customers, which helps you maintain a competitive advantage, is known as competitiveintelligence. Growing your market share is impossible without it in today’s hyper-competitive environment. What is CompetitiveIntelligence? Let’s break down the different kinds.
Competitiveintelligence and analysis gives brands an edge. In this article, we will go over how competitiveanalysis helps businesses, focusing on these points: How your brand, and others, are perceived and why it matters. You can use the intel to then benchmark your brand’s position against.
What Is CompetitiveBenchmarking? Competitivebenchmarking uses qualitative and quantitative data to rank IT vendors against their peers. Competitivebenchmarking is a tool that TBR has been providing to leading IT vendors for nearly 20 years.
Innovative companies use competitiveintelligence to benchmark against competitors and see which ones are growing stronger or executing particularly well. Competitor analysis helps companies make better strategic decisions and rise to the top. Competitors use BatchGeo to transform their data into useful maps.
This is where knowing how to do a competitor analysis comes into play. For medium and large businesses, the stakes are higher, and the competitive landscape is more complex. Conducting a thorough competitor analysis is essential to stay ahead. What is competitor analysis? How do you respond? Let’s get started.
Brent Barnhart , a writer and content critic, recently published an article that helps businesses grow their social presence through competitivebenchmarking. In his article published on Sprout Social , Barnhart explained that competitivebenchmarking is the process of comparing a company’s campaigns with those of its competitors.
Ralitsa Popova , a business intelligence expert and co-founder of RUBINLAKE.com , discussed in a Canadian Research Insights Council article how competitiveintelligence can help entrepreneurs improve their business decisions. Popova talked about some methods used in competitiveintelligence, one of which is benchmarking.
Competitors are busy gathering competitiveintelligence about your company right now, and they likely aren’t eager for you to up your competitiveintelligence gathering game. What Is CompetitiveIntelligence? And this is where competitiveintelligence tools come in.
In such a dynamic competitive backdrop, energy producers must struggle fiercely to maintain and expand their market share. Companies must rely on their competitiveintelligence executives to light the way forward. Executive Profile: May-Yee Ng, General Manager of CompetitiveIntelligence at Chevron.
Evalueserve’s “CompetitiveIntelligence Spotlight” series puts different competitiveintelligence (CI) professionals in the limelight to share their experiences and unique perspectives. EVS: Within CompetitiveIntelligence, what drove you to focus on sales?
To take full advantage of this projected resurgence and to meet foreign competitors head on, the sector must leverage the insights provided by its competitiveintelligence professionals. Executive Profile: Nancy Shirley, Global Sales Forecasting and CompetitiveIntelligence Manager at Adient.
Performance benchmarking involves tracking a series of metrics that connect back to a brand’s goals for the month, quarter or even the year. Performance benchmarking offers a way to set standards and hold teams accountable with metrics that every brand should have in place in 2022. Tracking both social and news media conversations.
We are going to detail some of these opportunities, as well as what competitor benchmarking is, how it’s used, as well as some best practices. But first, let’s take a look at these reveling stats: 90% of Fortune 500 companies already use competitiveintelligence to enhance their competitive edge. Best Practices in Action.
Finding a foothold in competitiveintelligence that gives you the broadest view of competitor performance is where you begin – and then you build out from there. Knowing this, we’ll speak to getting a solid start in competitivebenchmarking with a look at: Getting started with competitivebenchmarking.
and “how can I incorporate this into my competitiveanalysis projects?”. At each stage of your project, you’ll be taking the time to identify competitors, research strengths and weaknesses, find solid data and benchmark against your own business. Having the upper hand in competitiveintelligence will help your business succeed.
It would be convenient to have a single competitor analysis template that could be rolled out as needed, populated and presented. The tables, charts and other such forms of presenting data will vary across companies, by competitor and by focus of research e.g. product comparisons, sales benchmarking and so on.
As a competitiveintelligence professional, you are always looking for gaps in your competitor's products and business strategies to gain an edge. One way to do this is through competitivebenchmarking. Let's take a closer look at what competitivebenchmarking is and how you can use it to stay ahead of the competition!
Here, we’ll explore how to stand out in your category with our handbook to competitiveintelligence strategies for your business. Specifically, we’ll break down the topic with a focus on: Defining competitiveintelligence. Why competitiveintelligence research is essential for businesses.
There’s no denying the importance of having a competitiveintelligence (CI) platform in the “New Normal”. With the variety of competitiveintelligence (CI) platforms and solutions available, almost every need is filled, whether it is market research, competitive landscaping, trend analysis, customer insights, or anything in between.
Competitiveintelligence requires you to create strategies that will combat your competitors. But how exactly can you use competitiveintelligence tools for employee information? Below, we will discuss some of the top competitiveintelligence tools for analyzing competitors’ recruitment and org charts.
Shannon Tien , the inbound marketing lead of social media management platform Hootsuite, and Christina Newberry , a freelance writer and editor, have provided a list of steps in conducting a competitiveanalysis on social media. The third step is to do a strengths, weaknesses, opportunities and threats analysis.
On the surface, a competitor analysis helps brands identify competitors in an industry and reveals any winning marketing strategies. This intel can be benchmarked against your own data to give you a working idea of where you stand in the market. However, today’s competitiveanalysis goes well beyond that.
With over 56% of leading brands now revealing that they use competitiveintelligence to keep an eye on their competitors, it’s no longer a case of ‘should you monitor competitors,’ it’s when will you start? Did you know that competitor analysis tools can make your decision-making five times faster ?
The client wanted to benchmark best practices in terms of organizing their production facilities. Through our analysis, the client discovered a strong understanding of various organization structures and different staffing strategies at other energy companies. Result + Benefits. How can your company benefit?
These platforms can serve as your secret weapons for competitiveintelligence. Read on to learn exactly how you can leverage these tools in your competitor analysis strategy. What many business professionals fail to tap into, however, is the competitiveintelligence potential of these platforms.
Level up sales and marketing Monitoring your competition will give you a clear picture of how they sell to the audience and which marketing channel they use. This analysis will help iterate your approach to sales and marketing and analyze your sales conversion funnel.
Consumer behavior is a mystery at best sometimes, however savvy brands globally are harnessing the power of consumer behavior analysis to guide them in complex decision making. Enhancing Data Analysis Expertise. Enhancing Data Analysis Expertise. What is a Consumer Behavior Analysis? Identifying Emerging Trends.
Rather than looking inward and performing deep reflection on product differentiation, customer perceptions, and so on, your brand puts on its detective gear and looks at the external competition through competitor analysis. With these benchmarks in place, you can then either choose to price above, below, or compete by price matching.
Maria Ganta , a marketing coordinator at Socialinsider, recently published a blog post on how to conduct a competitiveanalysis on Instagram. For Ganta, performing a competitiveanalysis on Instagram has six advantages. ArchIntel™ -.
Knowing how to get competitor pricing is essential for the competitiveintelligence of any business. Accurate and up-to-date pricing information on competitors can significantly impact profitability and competitiveness, providing valuable insights for creating a comprehensive competitor report.
Learn how to mind the other’s business like a pro with this detailed guide to competitiveanalysis. What is a CompetitiveAnalysis? Competitiveanalysis is the comprehensive study of a competing brand to maintain a competitive footing. Consider the search engine market.
What is CompetitiveIntelligence? Competitiveintelligence is the practice of gathering, analyzing, and acting on information about your market, industry activity and disruptions, competitors, and their products/services. What key market trends and competitive insights can I leverage to grow my business?
Contrary to a one-off competitive social listening analysis, establishing benchmarks around competitive performance and tracking them over time is how you monitor competitors online. With each passing day, brands are becoming increasingly savvy with their competitiveintelligence. Explore and create alerts.
We sometimes get asked by clients whether we can conduct ‘competitor’ analysis of their own business. It can be useful alongside analysis of competitors, as it provides a like-for-like comparison for competitivebenchmarking, conducted by the same research vendor. It allows clients to calibrate the competitor research.
The right software can make competitor analysis more informed, accurate, and efficient. In this post, we'll cover the 10 best tools to help you gain valuable insights and find your competitive edge as you navigate 2024. But manually tracking their every move is time-consuming and inefficient.
To survive in today’s fast-moving and always-evolving market landscape, every business needs competitiveintelligence (CI)—comprehensive knowledge about your competitors and how your company stacks up. CI allows you to track competitor behavior and glean the insights you need to create competitive advantages.
To capture these opportunities, the insights provided by each energy company’s competitiveintelligence executive will be of paramount importance. Executive Profile: Trista Ristvedt, Senior CompetitiveAnalysis Program Manager at Tennessee Valley Authority. Here are the profiles of some of them.
Competitiveintelligence software equips businesses with the tools and insights to navigate a highly competitive market. By leveraging comprehensive data and actionable intelligence about competitors, companies can make well-informed decisions, anticipate market trends, and gain a competitive edge. Never fear!
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