A woman and her team are researching information in order to advance their competitive intelligence.

Gather the right competitive intelligence in order to achieve marketing success.

Football teams spend all week reviewing the tapes from an opponent’s recent games to find weaknesses and look for ways to win. You need to be that competitive to survive in the modern business world. Of course, businesses don’t release videos of their most-recent brainstorming session, and corporate espionage is just wrong, so what are you to do? Here are a few ways to gather the right competitive intelligence.

Competitive Intelligence Tip #1: Check the Analytics

Some information about your competitors is public knowledge. Other information might be a little more difficult to get ahold of, and businesses try to keep analytics on that list.  However, if you get to look at some of the numbers, important things to look at include:

Competitive Intelligence Tip #2: Look for New Products

You can’t stay ahead of a competitor without knowing what their latest offering is. As new products are released, keep yourself up to date and see what you can do to one-up the competition. Sometimes it is all about adding a new feature or two that a competitor doesn’t have as the reason for releasing a product a little later.

Competitive Intelligence Tip #3: Watch Promotions

It is as easy as joining a free mailing list. Now you have access to every sale or promotion a competitor runs. Run better sales at the same time, similar sales when your opponent is between sales, or try to anticipate the next promotion based on recent history—and then get ahead of the game.

Competitive Intelligence Tip #4: Watch the News

You can set a Google alert for any news on your main competitors. If anything negative happens that you can capitalize on, you will be ready to do so at a moment’s notice. If a competitor does something game changing, you can react immediately, even if that means heading back to the drawing board.

The fact is that your competition is probably seeking intelligence on your company. If you are not playing the game as well, you are far more likely to lose. Hopefully, you now have what you need to get some competitive intelligence started up if this was not already something you do.