The 4 Step Guide to Staying Ahead of The Competition
Navigating the competitive landscape
Technology has significantly increased the speed at which opportunities and threats develop within a competitive landscape. In today’s heavily connected ecosystem, the core challenge as an executive stems from the same place that opportunity does: Big Data.
No industry is immune to the fact that they’re currently at the centre of a very chaotic conversation, rooted in unstructured data. Finding your bearings requires both a high-level overview, as well as the ability to zoom in on key issues as they develop. The truth is executives need answers, not data.
What is competitive intelligence?
Competitive intelligence is the action of defining, gathering, analysing and distributing intelligence about products, customers & competitors. Insights found via competitive monitoring allow businesses to anticipate their competitor’s likely next steps, spot potential threats & opportunities and understand the competitive landscape.
By analysing your competitor activity, you can meet the below objectives:
- Anticipate the next moves of your competitors
- Identify strategic market developments (geographic development, marketing, recruitment, etc.)
- Position oneself strategically in the market
- Analyse the competitiveness and reputation of your brand, in relation to the industry
Download the guide
There are a number of data sources you can use to better understand your competitive landscape. Meltwater has created a 4 Step Guide to Staying Ahead of the Competition which dives into the different sources and the insights you can find by tracking them.
Readers of the guide can expect to learn:
• How you can be alerted to key insight into your brand, competitors and general competitive landscape
• Using insights from tracking competitor advertising spend
• Spotting industry and location-based trends
• How to understand industry hiring activity