How do you analyze competitive intelligence?

How do you analyze competitive intelligence?

Crayon Competitive Intelligence blog

1. Identify Your Competitors. The first step in the competitive intelligence process is to identify your competitors.
2. Identify Areas of Interest to Track in Your Competitors’ Digital Footprints.
3. Gather Your Intel.
4. Create a Competitive Analysis.
5. Communicate Intel.
6. Turn Data into Results.

How do you write a competitor analysis template?

How to create a competitive analysis report (jump ahead to each section):

1. Start with a competitor overview.
2. Conduct market research to uncover customer personas and industry trends.
3. Compare product features in a feature comparison matrix.
4. Summarize your strengths and weaknesses with a SWOT analysis.

How do I write a Competitive Intelligence Report?

Here are seven easy steps to creating a competitor analysis framework.

1. Identify Competitors. Know who are your competitors.
2. Know the Objectives.
3. Earmark the Evaluation areas.
4. Know the Stakeholders.
5. Choose Data Sources.
6. Competitive Intelligence Templates.
7. Publishing Research.

What is competitive intelligence analysis?

Competitive intelligence, sometimes referred to as corporate intelligence, refers to the ability to gather, analyze, and use information collected on competitors, customers, and other market factors that contribute to a business’s competitive advantage.

What are the main components of competitive intelligence?

The 4 Components of Market Intelligence

• Competitor Analysis.
• Product Evaluation.
• Market Analysis.
• Customer Understanding.
• Conclusion.

How do you write a competitive analysis?

How to Do a Competitor Analysis in 9 Steps

1. Identify your competitors.
2. Perform a competitor SWOT analysis.
3. Examine your competitors’ websites and customer experiences.
4. Determine your competitors’ market positioning.
5. Look at your competitors’ pricing and current offers.

How do you structure a competitive analysis?

How to do a Competitive Analysis

1. Determine who your competitors are.
2. Determine what products your competitors offer.
3. Research your competitors’ sales tactics and results.
4. Take a look at your competitors’ pricing, as well as any perks they offer.
5. Ensure you’re meeting competitive shipping costs.

What is competitive intelligence example?

10 essential examples of competitive intelligence

• Positioning/messaging changes.
• Pricing/packaging changes.
• Leadership changes.
• 4. News coverage.
• Website A/B tests.
• Customer reviews.
• Employee reviews.
• Job postings.

What are the 7 elements of the competitor intelligence system?

The Competitive Intelligence Division encompasses all aspects of competitive intelligence including: (1) planning, (2) identifying decision makers’s intelligence needs, (3) collecting and analyzing information, (4) disseminating intelligence products and services, (5) evaluating intelligence activities, (6) promoting …

What is a competitive analysis matrix?

A competitive matrix is an industry analysis tool that compares the characteristics of multiple brands within your market segment to identify their differences, strengths, and weaknesses. This information helps you uncover your own competitive advantage and identify opportunities to grow your business.

What is CI intelligence?

Customer intelligence (CI) is information derived from customer data that an organization collects from both internal and external sources. The purpose of CI is to understand customer motivations better in order to drive future growth.

What is a competitive analysis report?

A competitive analysis report outlines the strengths and weaknesses of your competitors compared to those of your own business. Typically, a competitive analysis report will contain: A description of your business’s target market.