Why Competitive Intelligence Is About Winning More Sales? by Octopus Intelligence

Why Competitive Intelligence Is About Winning More Sales?

If you’re not constantly evolving, you’re falling behind, and this brief article asks why competitive intelligence is about winning more sales.

Your competitors are always looking for an edge in the market. They’re researching new ways to reach their customers and new ways to serve them better. That’s also your customers, by the way. If you’re not doing the same, you’re falling behind. Constantly evolve your business by:

– Researching your industry and your competitors

– Innovating your products and services

– Improving your customer service

– Keeping up with changes in technology

If you don’t, your competition will leave you in the dust.

Don’t let your competition get the best of you. Here’s how to keep your competitive edge:

Know who your competitors are

Keep track of their progress

Understand their strengths and weaknesses so that you can take advantage of them

Analyse their marketing strategies. See what they are doing right, missing a trick and what they are going to do next

Identify their target audience

Stay ahead of the game by knowing what’s happening in your market

Plan your own strategies accordingly

Take action based on more certainty

If you’re not doing competitive intelligence, then you’re not going to win. It’s as simple as that.

What Is Competitive Intelligence?

Competitive intelligence is the process of gathering and analysing information about your competitors.

What is competitive intelligence?

Competitive intelligence is the finding & critical analysis of information to make sense of what’s happening & why. Predict what’s going to happen & give the options to control the outcome. The insight to create more certainty & competitive advantage.