The purpose of competitive intelligence is to help managers and executives in making strategic, smart decisions that will benefit the business they own or operate. This particular type of information revolves around competitors, customers, and products. Understanding these specific elements about the industry and world around you gives you a competitive edge that allows you to excel. It will give you better understanding of possible challenges you are facing, or better actions you could be taking. The primary goal and purpose of competitive intelligence is to empower you.
Competitive intelligence is entirely legal and ethical, and it focuses mostly on the external business environment. The information you receive will be educational to the point that you can use it and take action on it. Competitive intelligence includes relevant and specific facts and information. This data will be from a perspective that can help you to foresee developments and events within your industry.
There are different types, or categories of competitive intelligence, which focus on specific areas. Strategic intelligence is designed to look into the future, generally over the course of a few years. It also focuses on the different factors at work which will affect a business. Tactical intelligence targets decisions that are made in a shorter time-frame. Tactical intelligence helps to boost sales, generally, and focuses on market-related questions like location, promotion, price, and product.
We can help you to develop business or corporate unit strategies, benchmark other organizations, assess and analyze the effectiveness of product messaging and market positioning, and more. We can also help you to plan and anticipate future events, such as disruptions and opportunities. You will be able to strengthen your competitive strategies against one or multiple different competitors in your industry. The data we can give you will also help you to plan for a new market entry or product launch. Whatever big decisions you are thinking about in regards to your business can be aided with the help of competitive intelligence.
Our service can help you to compete and operate, not only more effectively, but more efficiently too. Cost savings is one of the first and most important ways you could benefit from our competitive intelligence tools and resources. Aside from this, however, you can also reduce business risk by avoiding mistakes. Looking at strategic trending data can help you to make wiser choices. You can increase revenue from both partnership opportunities and sales leads. You will also be able to maximize marketing ROI and improve executive team performance. Overall there are many different ways that you could benefit from competitive intelligence. We have all of the expertise and tools necessary to give you some of the best and most useful services within the field of competitive intelligence.