Smart methods to keep an eye on your competition
You don’t need camera drones to spy on your rivals. Try these approaches to snoop (legally) on others in your niche.
This article originally appeared on PR Daily in March of 2018.
Understanding competitors and their offerings can mean the difference between your own success and failure.
In-depth competitor research is crucial to knowing how your products and services stack up in the marketplace—whether they are cheaper or more expensive, inferior or superior in certain ways. Knowledge of competitors’ strengths and weaknesses reveals where your company can carve out a niche and thrive.
You don’t have to hack their computers or peer through their office windows with a telescope to find competitors’ inside information. Plenty of competitive intelligence is publicly available and can be acquired through legitimate means. Your competitors are probably doing it.
Snooping via social media
Ongoing monitoring and measurement of news and social media probably offers the richest competitive intelligence.
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