Competitive Intelligence Tools

Written by Rylee Newton
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Monitoring the activities of your closest competition is one of the best ways to gain insight and inspiration. Keeping one eye on the competition is the best way to ensure that they never gain an advantage, no matter what field you're in. For years, companies have relied on research professionals to find information about their competition. Today, one of the best tools for competitive intelligence is the Internet.

While it may seem overwhelming to monitor the activities of your competition, you can narrow down the search by hiring a media monitoring service. These services not only provide you with news clippings about your own company, but they also offer clipping services with information pertaining to the competition. Rather than taking hours out of your day, and getting insufficient results, a clipping company provides you with accurate and thorough monitoring of the competition.

The Big Picture

Competitive intelligence involves a number of different factors. One of the most important things to look for in an online monitoring service is links to message boards where consumers express their opinions about your competition. These message boards often offer insight into customer concerns and desires, as well as effective marketing strategies and promotional campaigns.

It's also important to find a monitoring service that provides information about the business practices of your competition. The right monitoring service can provide you with breaking news about new products, pricing changes, administrative policies, and general press coverage. Collectively, this information provides a complete picture of your competition.

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