For B2B startups, competitive intelligence (CI) isn't a luxury; it's a necessity. Whether you're entering a new market, have stumbled upon a disruptive product, or simply looking to maintain a competitive edge, CI can be a game-changer. It provides valuable insights about competitors, highlights strengths and weaknesses, and enables informed decision-making. Considering the plethora of data around us, identifying the right type of intelligence can be the difference between a blockbuster product and a flop.
In this article, we dive into the top 10 types of competitive intelligence you should consider and how each can help your business.
Product intelligence focuses on competitor's product offerings, features, benefits, and pricing. It helps identify your unique selling proposition and how you can differentiate your product from competitors.
Market share intelligence comprises data about how much of the market share you and your competitors hold. It allows you to assess your brand's strength relative to your competitors and gauge your growth opportunities.
Marketing intelligence involves analyzing competitor's marketing strategies, channels, messaging, and campaigns. This helps identify their customer acquisition techniques, brand positioning, and even benchmark your own marketing efforts.
Sales intelligence allows you to understand the sales strategies employed by competitors. This includes their target audience, sales cycles, deal structure, and lead nurturing tactics.
In today's digital age, technological intelligence is crucial. Understanding the technology stacks, digital tools, and platforms competitors use can give valuable insights into their operations and potential tech advantages.
Strategic intelligence concerns the long-term plans of your competitors. This can include their growth strategies, expansion plans, mergers, and acquisitions. These insights could help you strategise your future moves.
Customer intelligence involves understanding competitor's customer portfolios, demographics, behaviors, and preferences. This helps you identify gaps in their offerings and opportunities to attract unsatisfied or under-served customers.
Pricing intelligence involves analyzing competitor's pricing strategies - their discounts, promotions, and pricing models. This can ensure your own pricing remains competitive, fair, and attractive.
Financial intelligence refers to financial data such as revenue, profit margins, spending, and investments. This is useful when evaluating the financial stability and growth potential of competitors.
Legal and compliance intelligence is about staying informed about competitors' legal issues, compliance breaches or changes in regulatory requirements that could impact your business and theirs.
While every CI type mentioned above is critical, gathering all that data and importantly, keeping it up to date in real time is a herculean task. That's where Aomni comes in.
Aomni is a powerful B2B sales platform powered by AI that helps gather real-time account research, actionable competitive intel, and personalized sales content with zero effort. Aomni can gather information regarding your competitors' products, market share, pricing strategies, customer portfolio, and much more, making it a one-stop-shop for everything Competitive Intelligence.
To conclude, competitive intelligence is the fuel that powers strategic decision-making, aiding in risk mitigation and identifying growth opportunities. Whether you're planning a product launch or improving your marketing strategies, competitive intelligence could be the catalyst you need. Try Aomni today and level up your competitive intelligence game!