{"id":1021,"date":"2008-06-02T10:49:58","date_gmt":"2008-06-02T15:49:58","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/06\/02\/tips-on-getting-competitor-intelligence-statistics\/"},"modified":"2008-06-02T10:49:58","modified_gmt":"2008-06-02T15:49:58","slug":"tips-on-getting-competitor-intelligence-statistics","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=1021","title":{"rendered":"Tips on Getting Competitor Intelligence Statistics"},"content":{"rendered":"
by Linda P. Morton<\/div>\n

Competitor intelligence statistics may sound too difficult to acquire. But with the tips in this article, you’ll learn to gather information to give your business a competitive edge.<\/p>\n

You start by answering two important questions:<\/p>\n

How Do You Identify Your Competitors?<\/p>\n

What Competitors’ Intelligence Statistics Influence Your Business Success?<\/p>\n

Who Are Your Major Competitors?<\/p>\n

Your first tip is to identify all your competitors. Until you know who they are, you don’t know which businesses to gather competitor intelligence statistics on.<\/p>\n

This requires that you identify your competitors by answering the question “Who are your major competitors?”<\/p>\n

Now don’t answer this question quickly. Give it some serious thought and research before you begin gathering competitor intelligence statistics.<\/p>\n

Thinking that only businesses that sell the same services and products that you do will cause you to overlook many competitors.<\/p>\n

If you are a carpenter making cabinets, your competitors are more than just other carpenters. Any business that makes storage units of all kinds are your competitors.<\/p>\n

Once you’ve completed identifying the businesses that comprise your competitors, it’s time to start accumulating competitor intelligence statistics on them:<\/p>\n

Get a list of each competitor’s officers.<\/p>\n

Discover each competitor’s reputation.<\/p>\n

Determine which product is most important to each competitor,<\/p>\n

Discover how much of each competitor’s total sales come from that product,<\/p>\n

Note the ownership status of each competitor,<\/p>\n

Note how many shares the corporation has sold,<\/p>\n

Learn the present share value for each publicly-held competitor,<\/p>\n

Know how much cash each competitor has on hand.<\/p>\n

Know how much venture capital supports each competitor,<\/p>\n

Reveal each competitor’s lead investors,<\/p>\n

Locate sales information over the past two years for each competitor,<\/p>\n

Translate those sales figures into percentage of growth for each competitor, and<\/p>\n

Determine the channel through which each competitor makes most sales.<\/p>\n

By gathering all the information above, you’ll acquire a wealth of competitor intelligence statistics.<\/p>\n

What Are Your Competitors’ Intelligence Statistics?<\/p>\n

After identifying your major competitors and acquiring a wealth of information about them, you now need more in-depth competitor intelligence statistics.<\/p>\n

You need competitor intelligence statistics on:<\/p>\n

What each competitor charges for the service or product that competes with yours,<\/p>\n

The quality of each competitors product or service,<\/p>\n

How well each competitor serves its customers,<\/p>\n

The product range carried by each competitor,<\/p>\n

What distribution channel each competitor employs,<\/p>\n

The percent of the market that each competitor holds,<\/p>\n

How much profit each competitor makes,<\/p>\n

Plus additional statistics that help you to understand how you measure up to your competitors.<\/p>\n

To easily visualize the results of all your research, list each competitor and rank each by every statistic with:<\/p>\n

1 for an extremely weak competitor, to<\/p>\n

10 for as very strong competitor.<\/p>\n

If you take this approach to using competitor intelligence statistics, you can find the best opportunities for your products and services. So start today gathering your own competitor intelligence statistics.<\/p>\n

\n
About the Author:<\/div>\n
You can read Competitor Intelligence Statistics Examples<\/a> from my business. You can also get a free report: Marketing Your Small Business<\/a>. Get a totally unique version of this article from our article submission service<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Competitor intelligence statistics may sound too difficult to acquire. But with the tips in this article, you’ll learn to gather information to give your business a competitive edge.<\/p>\n","protected":false},"author":125,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[77],"class_list":["post-1021","post","type-post","status-publish","format-standard","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1021"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1021\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}