The Competitive Intelligence Check-list
- Decide who you are going to track and compare with your business. It could be a couple of competitors plus a good customer.
- Make a list of the key metrics that you are going to track – this should cover the social media channels where you have a presence plus any others that they are active on, even if you don’t.
- Social Media checks could include
- Twitter – followers, following, number of tweets
- Twitter – check to see if they are replying to tweets, what sort of content they are posting, tone of voice, regularity of posting
- Facebook – likes, talking about
- Facebook – look at the type of content they are posting – are they getting any responses. likes. shares?
- LinkedIn – followers, posts
- LinkedIn – are they posting updates? How often?
- Website check – there are tools available that will give you an idea of the popularity of a site although you won’t get as accurate information as you will from your own analytics. You could use Alexa rankings which has a free option, the main thing is to use the same tool across all businesses so that you get comparable metrics.
- Website content check – while you’re there take a look at the content. Has it been updated recently? Any changes to personnel? What about a blog – are they posting regularly?
- Google Alerts – set up some alerts for your company name, your competitors, your customers and for sector updates. Once these are done you only have to read the emails that Google sends you!
As you go along you may find that there are other things that you need to add to this list that are more pertinent to your business. What you will also find is that if you keep this up, you’ll have a valuable record of what’s going on in your sector and you’ll be better placed to take advantage of opportunities and respond to threats.
Good luck and let us know how you get on!