Understand Competitors to Win or Retain Clients

November 25, 2018 / GuidesFor Team

Competition is a dire process for the unprepared business man, but it could be an opportunity for growth for the intelligent salesman. Understanding competition is often vague as there are no specific algorithms that show how to beat competitors.

By following trends and analyzing competitor performance, companies will be able to measure their competitive edge. A 2013 report by The Economist Intelligence Unit noted that 70 percent of surveyed executives think that predictive intelligence is one of the most valuable insights they can use.

To examine competing brands, first, create their profile. Collate customer reviews that give a bird’s eye view of their strengths and weaknesses. Know their locations and monitor their social media. List the topics, campaigns, or offerings that get the most response from their followers. Finally, be updated with company news and analyze why they lost deals. – Rub Valdez

Read the source article at IT Communities

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