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  2. To gather competitive intelligence, follow these steps1:
    1. Identify your direct competitors.
    2. Determine key areas of interest and research goals.
    3. Gather external and internal competitive intelligence.
    4. Centralize competitive intelligence.
    5. Build competitor profiles.
    6. Share competitive insights with relevant stakeholders.
    Additionally, consider these methods to gather competitive intelligence2:
    • Stay on top of social media.
    • Let your customers gather intelligence for you.
    • Read competitor reviews.
    • Use specialized tools.
    • Analyze a competitor’s website.
    • Leverage search engine optimization.
    Learn more:

    6 Steps to Gathering Competitive Intelligence

    • 1. Identify your direct competitors Clearly identifying your competitors is the first step in building out a cohesive competitive landscape. ...
    • 2. Determine key areas of interest and research goals ...
    klue.com/blog/gathering-competitive-intelligence

    Ways to gather competitive intelligence

    • Stay on top of social media. Let your customers gather intelligence for you. ...
    • Read competitor reviews. Customer reviews tell you what customers like about your products and what they don't. ...
    mailchimp.com/resources/competitive-intelligence/
     
  3. People also ask
    What is competitive intelligence?By definition, competitive intelligence assembles actionable information from diverse published and unpublished sources, collected efficiently and ethically.
    How do you get competitive intelligence from a competitor?After the competitor companies themselves, the main source of competitive intelligence is the customers. This means that one should survey the customer base restlessly both online and in person. Additionally, it is always advisable to organize focus groups and get feedback on how your product or advertisements compare to those of the competitor.
    How do you design an effective competitive intelligence process?Let’s take a look at the six easy steps to designing an effective competitive intelligence process, and the benefits for your whole organization. 1. Identify Your Competitors The first step in the competitive intelligence process is to identify your competitors. Have a robust competitive landscape? Start with your top five direct competitors.
    How does corporate competitive intelligence work?One of the major activities involved in corporate competitive intelligence is use of ratio analysis, using key performance indicators (KPI). Organizations compare annual reports of their competitors on certain KPI and ratios, which are intrinsic to their industry. This helps them track their performance, vis-à-vis their competitors.
     
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