Competitive monitoring is a marketing and strategy management process wherein all business landscape avenues are monitored and evaluated. Knowing what the competition will do next puts the business in the position of planning how to counter it or how to do better than the competition.
Competitive monitoring means learning as much as possible, as soon as possible, about the industry in general and customers, competitors, distributors, technologies in use. It includes analytics from corporate websites, blogs and forums, and other sources
To remain competitive, enterprises must adapt their business models, establish specialist data science teams and rethink their overall strategies to keep pace with the competition. Gartner.
Competitive monitoring provides:
- Relevant and timely information about your market incumbents (suppliers, buyers, competitors) in a relatively short time
- Improve business responsiveness
- Better knowledge of potential threats
Competitive monitoring gives you these insights. We tell you about your competitors' initiatives, client base, and hopes, and fears of their client base. We listen to what the brands and individuals ask search engines and tell their social followers.