• Contact Us
No Result
View All Result
  • Login
Bolt Posts
  • Home
  • Business
  • Fashion
  • Health
  • Travel
  • Technology
  • Education
  • Entertainment
  • Home
  • Business
  • Fashion
  • Health
  • Travel
  • Technology
  • Education
  • Entertainment
No Result
View All Result
Bolt Posts
No Result
View All Result
Home Technology

Competitive Intelligence Process

by Sophia Owen
November 9, 2020
0
325
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

As a business owner, you’ve probably wondered what you could do to gain insights into your competitor’s success. Knowing this will help you develop an approach to help steer your business in the right direction. If your competitor is achieving through a certain means, then borrowing the idea can also help you achieve the same success. You can also learn all the challenges encountered by the competitors on their way up the success ladder.

On the other hand, if your competitor fails to achieve the desired success, you can learn what to do and avoid so you may avoid the same fate. For this reason, you need to carefully follow all the steps involved in the competitive-intelligence process.

Here is how you can design a process that can help you succeed in your business.

Set Your Goals

For you to succeed in the process, you need to define the business goals carefully. Doing this will help you come up with the best team responsible for the competitive intelligence process. An example of competitive intelligence goals that you need to consider for your business includes identifying all your competitors and writing all the existing differences. Once you have defined the goals, please choose the best people to help your business achieve them.

Come Up with a Plan

Once you set up your business goals, you need to come up with the right ways of achieving them. A plan also involves competitive intelligence resources and other tools to help achieve business goals.

Learn Everything About Your Competitors.

Research and learn about your competitors. Once you find them, write them down on a piece of paper and research every detail about them, including their strengths and weaknesses for both your direct and indirect competitors. You can borrow the tips from Moz about how you can identify your competitors.

Get into Work

After defining goals and identifying your competitors, the next step is doing the necessary work. There is really no need to set goals and identify your industry’s competitors if you are not willing to put in the work. The best way for you to work smoothly is by outlining the process and working on achieving each step one at a time. This also means working together with everyone involved for the greater good.

Results

You need to share your results with the rest of the team. This step involves putting together a well-defined presentation that will explain each step for every teammate to understand. While in the presentation, ensure you also present the necessary solutions. You can also offer successful recommendations to the business. You also need to provide a progression report concerning all the recommendations that you have offered.

Adoption and Result

Once you have put the competitive intelligence process in place, ensure you share it with every business member. Every involved person should also adopt it for it to be successful. As people adopt the process, they will provide feedback, which you can use to improve it.

Implement the Process

Now that you have looked at all the processes involved in competitive intelligence, you need to adopt the tools to help you achieve them. One example of the competitive intelligence tools that you should adopt in your business is NetBase Quid. NetBase Quid will provide insights into all the business trends from both structured and unstructured data. The platform will also provide faster solutions that will smoothen the process. This information will be based on billions of resources, including consumer reviews, news articles, media posts, forums, and publications.

Ensure you have implemented the process to void surprises and half-baked answers when an important question is raised.

Tags: competitive intelligenceexample of the competitive intelligence tools
Previous Post

The Best Clinic Is the One That Can Handle It All

Next Post

VPN, How Does it Actually Work?

Sophia Owen

Sophia Owen

Sophia Owen is the Co-founder and SEO Manager at Bolt Posts in Hamilton, Canada. You can follow her @sophiaowen or contact her at sophia@boltposts.com

Next Post
VPN, How Does it Actually Work?

VPN, How Does it Actually Work?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Categories

  • Business (1)
  • CBD Oil (1)
  • COMMUNITY (444)
  • Entertainment (47)
  • Fashion (51)
  • Finance (37)
  • Home Improvement (7)
  • Music (1)
  • News (3)
  • Sports (3)
  • Technology (49)

Recent.

boltposts-sink

Different Kinds Of Sink Plumbing Fixtures For Your Kitchen Or Bathroom

January 17, 2021
Female Fitness Strategies And Formula For Best Results

Female Fitness Strategies And Formula For Best Results

December 24, 2020
Know How to Recover Deleted Files Mac PC

Know How to Recover Deleted Files Mac PC

December 24, 2020

Bolt Posts is a one stop destination for finding the most reliable information on business, technology, entertainment, and inventions. This platform is revealing things in an engaging way to improve your knowledge on what is going on across the globe.

Categories

  • Technology
  • Entertainment
  • Fashion
  • Sports

Housekeeping

  • Contact Us
  • Terms and Conditions
  • Privacy Policy

Recent Posts

  • Different Kinds Of Sink Plumbing Fixtures For Your Kitchen Or Bathroom January 17, 2021
  • Female Fitness Strategies And Formula For Best Results December 24, 2020
  • Know How to Recover Deleted Files Mac PC December 24, 2020

© 2020 BoltPosts - All Rights Reserved.

No Result
View All Result
  • Home
  • Business
  • Fashion
  • Health
  • Travel
  • Technology
  • Education
  • Entertainment

© 2020 BoltPosts - All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In