Competitive Intelligence was always a kind of mystery to me.
That's maybe one of the reasons why I started with NLP a long time ago..
Today, I work in sales and I am interested about my competition. I was not at all firstly, but later on when I was selling for a while in my territory, I started to learn, that there is only limited amount of opportunities at the time. When I want to make the best results of my territory, I should know my competition well.
Now let's get back to Competitive Intelligence.
Have you ever wonder where do many companies get their Competitive Information from ?
Competitive information on how to approach market ?
Where do they get competitive info about competition and the way to beat them ?
|Picture By: Munir Hamdan|
The great example how to understand the fun fact behind the whole science are snoopers or spies in the middle ages who took the risk of their own life in order to get Information about the competitive kingdom.
Information that were useful were: army size, amount of food in castle, weapons they will use, alliances and allies, special events in castle. If you were kind and you would have that kind of information, then decision whether attack or not would be much easier. See in old Troy they've sent a wooden horse because they had Intelligence Service and private investigator reporting that there is celebration coming. Funny but true.
The reason Why You might seek for Competitive Intelligence tools is that you:
1) Want to Create Competitive Strategy - Just like King in my example above.
2) Create proper tactics to approach market with your product.
3) You Search for opportunities
4) You try to identify threats in your business market.
5) Or you simply want to have direct influence / lobby
This is where you should begin with search:
Pro Quest Dialog Competitive Intelligence - See website here -
Competitive Intelligence Handbook - something like CI 101 -
Lexis Nexis - Marketing & Competitive Intelligence -
Questel - Professionals have 95 Countries Information in One Database -
Track Competitive Intelligence with STN International -