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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 competitive analysis success. What is CompetitiveBenchmarking?
The ubiquity of marketing activity across platforms like Twitter and LinkedIn has given rise to social media competitive analysis—an exercise that companies undertake in hopes of improving their own strategies. What is social media competitive analysis? Creating a social media competitive analysis in 6 steps. Gather your data.
In a blog post, Harvey Ranola , director of demand generation and global strategist of media intelligence at NetBase Quid, explored the role of competitive analysis and research in marketing. According to Ranola, competitive intel allows companies to know how their brand is perceived relative to the competition.
Last month, we began collecting responses for our 2024 State of CompetitiveIntelligence survey. So far, of the 106 people who have completed the survey, 62% have said they struggle to gather information about their competitors in a timely manner.
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.
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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 competitive analysis.
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SCIP Insights Empowered by Knowledge: The Role of CompetitiveIntelligence in Gender Equity In the pursuit of gender equity, knowledge is one of the most powerful tools available. This information empowers leaders to anticipate changes, identify opportunities, and mitigate risks.
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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.
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?
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The author said that accurately gauging performance in the face of business climate disruptions can only be done by introducing external comparators and creating a wider frame of reference to use in benchmarking.
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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.
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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 competitive analysis on social media. This can be done by entering relevant competitive keywords in search engines.
Nothing has been normal in 2020. From celebrity deaths to murder hornets, the looming economic crisis, and that whole worldwide pandemic, we’ve had nothing but surprises. Businesses in many industries are facing metrics that look very different than those of past years.
The client wanted to benchmark best practices in terms of organizing their production facilities. This intelligence has helped the client benchmark its own production facilities and informed decision making relevant to improving their organization structure and asset management. How can your company benefit?
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?
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? Competitiveintelligence allows you to stay ahead of trends in your industry. Don’t just take our word for it.
These platforms can serve as your secret weapons for competitiveintelligence. What many business professionals fail to tap into, however, is the competitiveintelligence potential of these platforms. Indeed is a valuable source of information when undertaking competitive analysis for product teams , too.
A competitive audit is the part of the competitiveintelligence process that seeks to better understand the competition and compare a brand to its peers. Why Companies Must Have Competitive Audits. A study conducted by Crayon and SCIP shows that competition is becoming stiffer across most industries.
On the shelves, you see a row of possible choices, but divert your eyes to the price tags, and that’s where the influence of competitive based pricing begins. Every brand needs some sort of competitive pricing strategy. With these benchmarks in place, you can then either choose to price above, below, or compete by price matching.
With today’s social listening capabilities and data analytics tools, there’s no reason that you shouldn’t be using them to keep tabs on the competition. Any form of competitiveintelligence that you can act on to improve your brand’s position is a win. 10 keys to competitive monitoring success. Let’s take a look!
Monitoring your competition gives you a closer look at what’s working well for other brands in your industry. But how do you monitor the competition to find meaningful insights? Stay on top of industry trends Another reason you should monitor your competition is to be aware of your industry’s latest trends and practices.
Falls Sie Branchenführer fragen – werden sie Ihnen sagen, wie wichtig CompetitiveIntelligence ist, obwohl Sie dies bereits schon wissen. Was ist CompetitiveIntelligence? Die Beobachtung von CompetitiveIntelligence ist nicht nur ein ‚nettes Bonbon‘ – sie ist missionskritisch! Was ist dies genau?
And a competitive comparison is a vital part of your company’s benchmarking efforts to stay a few steps ahead here. What does a competitive analysis offer and why does a brand need it? Tracking your competition can provide an expansive real-time view into how your competition is perceived by both consumers and media.
For medium and large businesses, the stakes are higher, and the competitive landscape is more complex. In this article, we will discuss the importance of competitive analysis, outline what to include, and provide a step-by-step guide on how to do a competitor analysis. How do you respond? Here are the key elements to include: 1.
With its principal customer seeking to make the most out of every dollar spent, competition in the sector is expected to shift into high gear. Each competitiveintelligence professional will have to work hard to provide the insights needed to push their company ahead. These are the profiles of some of those executives.
For example, our company Aqute could be in competitiveintelligence , or market research, or consulting. If we decide we are in competitiveintelligence, we could be in competitiveintelligence software or competitiveintelligence services.
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