A competitive intelligence work helps you, in general, to plan the various marketing activities. In a more in-depth and specific vision we can underline how useful this approach is to complete a SWOT analysis work ( image source ) where the threats are listed.
swot analysis example
But also the opportunities that come. With this approach you malaysian business email list understand your environment , the difficulties and opportunities. You have more information to create effective business practices in different areas:
New product launches.
Pricing.
Rebranding.
Market expansion.
Start of advertising campaigns.
Mergers and sales.
Brand identity.
SEO positioning.
Let's take an example: why is it necessary to focus on competitive intelligence if I have decided to open an e-commerce ? You can identify what competitors have done to make the most of the sector, if they have opened an online shop only in Italian or are aiming for multilingualism. And how many languages has the site been translated into? Is there Portuguese? And English for Australians? Do they invest in SEO optimization?
Are your competitors focusing mainly on ADV ? The list could go on forever but continuing this work continuously, like in a Deming cycle , helps you achieve great results.
There are many solutions to collect useful data in the competition study phase. Why focus on this condition? What is its strong point? In reality, it is a process that does not only involve the introduction of tools for data collection but of an entire mentality devoted to the systemic organization of information relating to the evolution of markets and decisions taken by competitors.