Why is competitive monitoring important?

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Competitive monitoring forms the backbone of competitive intelligence. It deals with collecting insights that help your business stay ahead, adapt and grow.


Get ahead of the competition
The biggest advantage of competitive monitoring is it netherlands b2b leads provides you with the insight you need to gain the upper hand.

By keeping an eye on your competitors’ activities, you can learn from their wins and losses, develop foolproof strategies, better position your products and differentiate your brand.

For example, you might anticipate a new product launch or business merger before it actually happens. This information can help you move quickly to launch a better product or develop strategies to prevent the merger from stealing your brand’s market share.

Identify untapped markets
Tracking competitor weaknesses, shifts in customer demand, market trends and potential threats allows your brand to capitalize on new opportunities before others do.

For instance, you might spot some niche market segments your competitors might be neglecting, like a different age group or interest.

Or, you might find their customers are asking for a new feature. You could add that feature into your product before they do to steal their subscriptions.

Stay on top of industry trends
Things are always changing in business. There might be a new automation software slashing marketing costs in half. Customers might be demanding more eco-friendly products. Or there might be a new viral trend your competitors are all hopping on.