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When it comes to spying on your competition, what can you do with the information you gather? There are actually a number of ways you can use competitive intelligence. Here are a few:

  • Use it to improve your search engine optimization campaigns.
  • Keep abreast of your competition’s developments so you can maintain a competitive posture. Remember when Google+ introduced Circles? Facebook replied with its own version of friends management called Lists.
  • Find out how your competition is responding to your developments.
  • Use the information to poll your customers to see if you can improve your own products and services.
  • Compare the intelligence against developing market trends.
  • Identify your own areas of relative weakness.
  • Discover new ways of looking at old problems.

Competitive intelligence is a never-ending process. What you can learn from studying and spying on your competition could improve your own business practices. Your core products and services might have some weaknesses revealed by what your competition is doing. Do consumers have a more favorable perception of your products or those of your competition?

If you want to remain competitive, keep tabs on your competitors and use the information you gather to make your company and its products the best they can be.

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