5 tips to use when we don’t receive information about our competitors
Competitors’ surveillance is one of the main focuses of Competitive Intelligence and, in most cases, one of the essential. Monitoring the movements of our competitors can help us to identify opportunities and threats, to anticipate movements of competition, to identify patterns of behavior, to redefine our value proposition, to modify or improve our products, etc. However, it is sometimes difficult to find information of interest, because our competitors are not big companies or are not very active on the Internet, so we offer some guidelines that can help you:
- Local press: When we talk about monitoring competitors, especially small and medium companies, the local press is our best ally. It offers us news about the situation of the company, orders they get, participation in events, changes in management, etc. We should find the newspaper or magazine to give more detailed coverage to the area of the competitor and use keywords to filter information.
- Names: Sometimes the best way to reach what we want is to make a detour. If we know the names of key people working for our competitors, we can launch searches against various engines to know where they move, give lectures, attend to conferences, etc. So, we can have access to presentations, meet exposed subjects or know what R&D projects are involved in.
- Universities: Universities usually establish collaboration agreements with companies to carry out investigations, provide students with internship opportunities, and carry out projects, so they can be a good information source on the movements of our competitors.
- Technology Centres: We may not know what R&D projects are our competitors involved, but if we know what Technology Centres they relate to, we can follow them and identify projects developed with our competence to anticipate possible developments.
- Social Networks: Many companies are not active in social networks, but that does not mean people do not talk about them. When our competitors do not have accounts in Social Networks, the best strategy is often to try to detect articles or publications that talk about them through keywords.
We hope these tips will help you find information of interest. If you are launching an initiative in the field of CI and need help, contact us. You can also try a professional software like INNGUMA requesting a free demo.