Octopus Competitive Intelligence

  What does Competitive Intelligence do for your business? What does Competitive Intelligence do for your business? At first glance, it looks like a simple question. And it is often seen asked on search engines. So we thought it would be a good idea to answer it. Want to know the secret of Competitive Intelligence? Take a look below. At its heart, Competitive Intelligence is all about understanding the competition. What products or services do they offer? How are they priced, and how are they marketed? What are their strengths and weaknesses, and what is their competitive edge? Competitive Intelligence can give you a leg up on the competition. By helping you understand what they’re doing and how they’re doing it. It can help you find new opportunities, threats and develop strategies to stay ahead. Make better decisions Competitive Intelligence can also help you make better business decisions. What Competitive Intelligence does is provide insights into the market and industry trends...

  Why Competitive Intelligence comes from everywhere with all opinions taken into account In order to stay ahead of the competition, it’s important to have a Competitive Intelligence program in place. That’s why Competitive Intelligence comes from everywhere, with all opinions taken into account. Competitive Intelligence is the process of monitoring your competition and gathering information about them to help you make better decisions in your business.  There are many sources of Competitive Intelligence. Your competitors with their websites and social media are a good start. But so are other businesses in your industry, suppliers, customers, and even the government. The most important thing to remember is that competitive Intelligence comes from everywhere. Helps in your marketplace Competitive Intelligence can help you in your marketplace. And to be successful in your marketplace, it is important to understand what is happening in your industry. Competitive Intelligence can ...

  Director Product Marketing Europe at the Brady Corporation on Competitive Intelligence This week we asked Bhavna Mistry, the Director of Product Marketing Europe at the Brady Corporation, for her opinion on Competitive Intelligence and her market sector. Internationally, Brady Corporation manufactures and markets complete solutions that identify and protect people, products and places. Brady Corporation’s products include high-performance labels, signs, safety devices, printing systems and software.  1. In your view, what’s Competitive Intelligence? Understanding both market dynamics in terms of product, price & promotion and consumer behavioural changes. Data is the heart of competitive intelligence 2. If you agree, why is Competitive Intelligence important? A company’s strategy must be aligned to competitive intelligence in order to make the right decisions to sustain growth both in the short & long term 3. How would you advise a company with no experience in Compe...

  Are you recruiting for a Competitive Intelligence professional? Are you recruiting for a Competitive Intelligence Manager? Finding it tough to find anyone suitable with the necessary skills or experience? Or maybe you are interested in outsourcing the role but are not sure where to start? We ask why outsource Competitive Intelligence and the advantages and disadvantages of doing so? Why Outsource Competitive Intelligence and the advantages and disadvantages of doing so? If either of these scenarios looks familiar, then hopefully, this article may help you. Inhouse or outsource? You may be considering the in-house option is to undertake Competitive Intelligence. Should you recruit for your team? Or use the already busy and inexperienced marketing assistants? Or go the whole way and outsource everything to an agency? Here are a few common key pointers. Never put all your eggs in one basket We argue that you can never outsource everything as we can’t make your decisions. Compet...

  What benefits of Competitive Intelligence help understand your market more? This is an ever-growing list of benefits and questions to help you understand your market more. We ask what benefits of Competitive Intelligence help understand your market more? It’s so much easier than ever to conduct Competitive Intelligence, research and analysis. It’s not rocket science, and it requires time and effort, and it’s more than a quick Google search. You can track, research and analyse your Competitors. To understand what they are doing, going to do and what makes them successful. Benefits There are a few benefits of performing Competitive Intelligence including: Discover what customers are saying about their and your own products and services Identify the areas competitors are better than you at and look at how you can improve what you are doing Create new ideas to serve customers better Isolate new marketing channels and routes to market Understand why their website ranks higher on Googl...

Eight reasons why a win-loss analysis is important to you We ask why win-loss analysis in Competitive Intelligence is an important question. It’s often the first real taste of the power of Competitive Intelligence. An independently commissioned win-loss analysis programme provides nuanced, precise, and instantly actionable insights. Not from searching Google or a database but from those who know you best. The prospects who have gone through your customer journey. Those who have bought from you or those who went elsewhere. The following are eight reasons why a win-loss analysis is important to you. What is win-loss? Win-loss analysis is a process of identifying why you win, why you lose, why customers churn, and why customers decide not to decide at all. Win-loss analysis improves sales, marketing, product development, and competitive strategy. The win-loss analysis is also referred to as win-loss, sales win-loss, win/loss, or lost analysis. 1. Actionable You are talking to real custome...

How can Market Analysis show you how to beat your competition? This article is called how can Market Analysis show you how to beat your competition? How can you beat your competition is one of the most important questions you can ask yourself. Essential for when starting, growing, sustaining and even selling your business. It may sound aggressive to say how you can beat your competition, but let’s face it, they want your business. They want to beat you, and they will not stand by and let you take theirs.  Beating your competitor should mean that you are gaining market share. The more of the market you have, the more customers you will have. The more customers, the more profit etc. Providing you are selling at the right price covering all your costs, of course. Which is not necessarily the case in the highly invested tech world. Here are our thoughts on assisting you in winning your battles with your competitors. Follow in the footsteps of your competitors You and your competitors s...