One of the most important things to consider in a business is finding new ways to keep their customers. The relationship sale is one way that we can do this. Let’s explore how competitive intelligence skills is replacing the relationship sale.

I’m saying the way people buy has drastically changed.

In the past, it was mainly about having a strong relationship to get in front of prospects and close deals.

Nowadays, with data and media around us all the time, we can get in front of prospects before they start looking for a solution. We offer them something different than their incumbent partner that will solve their problem better.

COVID-19 has changed the way business is done, and as a result it makes clients more open to new vendors.

So, what are the competitive intelligence skills?


Need Help Automating Your Sales Prospecting Process?

LeadFuze gives you all the data you need to find ideal leads, including full contact information.

Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following: 

  • A company in the Financial Services or Banking industry
  • Who have more than 10 employees
  • That spend money on Adwords
  • Who use Hubspot
  • Who currently have job openings for marketing help
  • With the role of HR Manager
  • That has only been in this role for less than 1 year
Just to give you an idea. 😀

Who Uses Competitive Intelligence?

Competitive intelligence is the process of finding out what your competition does and how they do it in order to build a plan that will outperform them.

Competitive intelligence skills gives you an advantage over your competitors by using their weaknesses against them.

Competitive intelligence has been used for many purposes, including to create buyer personas, build business moats and disrupt industries.

It’s easier for your salespeople to convince companies that are already working with other vendors because they will be able to show them the benefits of switching.

Get Started with Competitive Intelligence Skills

Once you have a goal and an understanding of your competitors, then it’s time to start looking for the right data.

1. Identify Your Goals

First, you need to know what your goal is and then pick the right tools and data sources for that.

Along with the goals I set for myself, here are a few other things you can work towards: -Establishing relationships and building rapport -Setting achievable expectations to keep yourself on track. -Having clear metrics in place to measure successfailure

Think about your messaging. It’s important to stay on top of what you’re saying and how it may affect potential customers.

I had to adjust my prices so that I could be more competitive with other companies.

To get the most out of your advertising budget, you need to know where it’s best spent. You also want to find places that are less crowded with competitors.

When you advertise where your competitors are not, it gives you a strategic advantage. Article: When I first began hiring salespeople, I just assumed pay along with commissions and bonuses would be enough sales motivation.

If you are launching a new product, service, or company and want to know where to start in order for it to grow quickly, one strategy is what Walmart did. They launched their stores near large cities so they could be the only option when people were looking for that type of item.

Now, they are taking over larger markets too.

Partnerships are key to success in business, and finding good partners who can help you get ahead is important.

One of the best things you can do is find and hire talented people that will help your company succeed.

You need to know what other companies are offering prospective employees in order to be able to offer a better package.

A study of Gong and Chorus messaging shows that there are significant differences in the amount of time it takes to send a message.

Gong.io was a startup that had an innovative messagingpositioning strategy.

I looked on the Way Back Machine and Gong.io had “conversational intelligence†in bigger font than Chorus.

competitive intelligence skills

Gong has now made the switch to “revenue intelligence†and focus on selling its solution instead of focusing only on conversion rates.

They trademarked the term to prevent other companies from using it.

Now that we have more information, we can’t just say revenue intelligence. We need to speak in terms of how Chorus helps increase it.

If Gong wasn’t paying attention to their competitors, they would have been left behind by Chorus.

2. Identify the Competitors

When it comes to competitive intelligence skills, it’s important to understand the competitors of a company. This is essential for getting started with any business, and can change depending on what market you’re in.

For example, on the Google search engine there are many companies that rank for a certain keyword. You might not consider them to be in your competitive set, but because you compete with them when customers use this service to find what they want and need, they’re part of it.

Circl.es is a video-based peer to peer communication platform, but they don’t really think of Zoom as competition.

Circl.es is missing out on potential customers because they are not ranking for the keyword “video conferencing tools†even though it would allow them to reach thousands of people.

You can also see that Zdnet.com and Techradar, which are publishing sites rather than general search engines like Zoom, outrank the term because they focus on it more.

I recommend using tools like SEMRUSH and others (I examine more of these below), to find out what search terms your competitors are ranking for. And finding out how customers use words that describe the solution you offer, so you can rank organically on those searches as well.

3. Find the Proper Tools

When it comes to competitive intelligence, data is key. And good data relies on the right tools.

I use a few competitive intelligence tools at JumpCrew, and I think they are great.

When you are in need of competitive intelligence, there are many data sources and tools available to help give you an edge.

Dstillery: This custom audience tool allows you to create and send your own ads.

I use Dstillery to understand my audience and what they want from me.

I use them to figure out what type of people are going to my competitor’s site, and make sure I advertise in front of their audience.

SparkToro: This is an audience intelligence tool that I use to help understand what content my audiences like and which ones they don’t. It also helps me identify which topics are trending in the industry.

SEMRUSH is a tool that helps you to analyze your competition, especially related to search engines and content marketing.

With SEMRUSH, I can see the keywords my competitors are ranking for and what is performing well on their website.

BuiltWith is a tool that you can use to find out what technologies are being used by certain websites.

It’s a really useful tool for understanding my competitor’s technology stack. It can be especially helpful if I’m building a tech stack from scratch or updating it.

I have a Chrome browser plug-in that I use to spy on my competitors when they visit their website.

AppAnnie is a tool that helps you find information about mobile apps, like sales and rankings.

I use App Annie to help show how well a company is performing in the app store and their competitors.

Crunchbase is the best site for company information.

CrunchBase is an excellent resource for information on anything you’re looking into.

SimilarWeb is a tool that can help show statistics of competitors and industries.

I use this tool to get an idea of how my competitors are doing. It’s not perfect, but it gives me a sense.

DeepDiveDuck is a tool that monitors your competitor’s website for changes like pricing or press releases.

I use this tool to keep up with my competitors and see what they’re doing. It’s hard not to get left behind if you don’t have a way of monitoring your competition.

Owletter gives you a sneak peek into your competitors’ email marketing strategies.

It’s key to understand how your competitors use email marketing so you can give them a run for their money.

monday.com is a new website that can help you find potential customers and run campaigns.

I like to use monday.com for tasks that are repetitive because I can do them once and then it’s done; there isn’t any manual work after the first time.

Competitive Intelligence Skills Development Takes Time

In order for a business to succeed, it needs to have a competitive strategy. And the foundation of this strategy should be competitive intelligence.

Setting goals, choosing competitors and using the right tools are all important steps when getting started.

Leave a list of the tools you use for competitive intelligence and analysis in your comments, and I’ll check them out.


Need Help Automating Your Sales Prospecting Process?

LeadFuze gives you all the data you need to find ideal leads, including full contact information.

Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following: 

  • A company in the Financial Services or Banking industry
  • Who have more than 10 employees
  • That spend money on Adwords
  • Who use Hubspot
  • Who currently have job openings for marketing help
  • With the role of HR Manager
  • That has only been in this role for less than 1 year
Just to give you an idea. 😀
Editors Note:

Want to help contribute to future articles? Have data-backed and tactical advice to share? I’d love to hear from you!

We have over 60,000 monthly readers that would love to see it! Contact us and let's discuss your ideas!

Justin McGill
About Author: Justin McGill
This post was written by Content at Scale, a solution that uses AI + a team of optimization specialists to publish hundreds of high quality, SEO optimized content straight to your blog. It’s the first and only solution that allows you to truly scale content marketing.