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Competitor Analysis

It’s time to stop keeping data in silos.

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Your data has hidden depths

It’s time to stop keeping data in silos.

The key to your next brand-rocking campaign could lie within your powerful competitive intelligence but unless you know how to turn that information and intelligence into inspiring marketing messages, and then get these messages out there to the right audience in the real world – you’ve still only explored the tip of the iceberg.

You could be doing more with your intelligence.

Turn insight into action and outcomes.

Put your marketing brains on.

The benefits of combining intelligence and marketing could include:

  • improved customer relationships and customer retention
  • wider or more profitable customer attraction
  • damage limitation and brand clarity – and more.

Don’t let your Intelligence end with the report – use it to improve marketing by driving insight-led campaigns to show the rest of the world how amazing you really are, compared to your competitors.

The facts are at your fingertips.

Use them.

That’s why octopus works with Verballistics and Inbetween Creative within our core intelligence product and our Brand Intelligence offering – to identify the hidden potential embedded within the intelligence that we conduct for our clients.

You’ve got the report, now what?

By | Competitive Intelligence, Competitor Analysis, Market Analysis | No Comments

The value of competitive intelligence cannot be underestimated

It can pave the way for new, effective strategies, allow you to get an edge on your rivals and help you discover insights that can change the way you do business, forever.

But unless intelligence and the key recommendations are applied, there is a risk that its value can become hidden, or lost, forever.

As you may know octopus help companies make better decisions because, thanks to us, they have the right intelligence at their fingertips.

Our intelligence gives them the power of knowledge; the power to change the way they do business – and potentially the power to change lives.

But in large companies, Competitive Intelligence is often requested by one party in order to solve a particular problem and then shelved.

Hoarding should be outlawed!

Imagine if, instead of hoarding intelligence once the original questions have been answered and was shared around the business in a way that added value to every department it touched.

Answering simple questions about your competitors often leads to a myriad of potential opportunities. And early warning of threats.

It’s actually an iceberg – the first piece of information is simply the tip; the rest of its ability to change your business for the better could be hidden far below the immediate answers.

Competitive intelligence can obviously be used to benefit your research and product development departments, and your sales strategy.

But it can also provide a direct and indirect benefit to your marketing strategy.

That’s why octopus works with Verballistics and Inbetween Creative. Together we produce a core intelligence product, a Brand Intelligence offering, and a Content Strategy solution – to identify the hidden potential embedded within the intelligence that we provide for our clients.

Falling in love with your competitors

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Falling in love with your competitors

You don’t need us to tell you it’s soon Valentine’s Day. But you may be surprised to hear we believe it’s time for you to start loving your competitors.

They may take business from you. You may take customers from them. They can certainly be a major pain in the backside. So why fall in love? The truth is, your next big idea – the sort that transforms your business – may come from your competitor.

Your competitors can spark great ideas for you too

Look at it this way. They may be doing something well, but look closely and you might see what you can do differently and better. Learning from their mistakes is usually easier for you than it is for them. You can look at the situation with a clear mind, with no emotion or detail clouding your judgement.

Understanding your competitors means understanding your customers

You can progress what they’re doing into a better product or service without having to pay for the error. You can find inspiration in what is working well for them. Understand your competitors and you will have a better understanding of your market. And the more you know about your market, the better chance you have of finding better customer solutions and new opportunities.

Enter your competitors’ world

A great way to be perceived as an expert in your field is to use social media to congratulate your competitor when they have won a deal or launched a new product. It shows you have your finger on the pulse of your market, while your customers (and prospects) may think you have their best interests at heart.

Are they threatened by you?

This action develops trust and, suddenly, you are seen as industry thought leaders. All the information is already out in the open, so you are not risking much. But if they thank you, it shows they do not threaten you, and there is a good chance their customers will take a closer look at you. If on the other hand they ignore you, the market will note your kindness and their actions will also be noted. Pack your congratulatory message with keywords, and it will help you appear in Google searches.

Let’s hope they’re looking at you too

There is something worse than your competitors watching what you’re doing…when they’re not looking at you. If they don’t take a keen interest, you need to quickly understand why. Your competitors can unlock new ideas for meeting your customer’s needs, you’ve got to love them for that, haven’t you?

Any questions? Feel free to get in touch with us on hello@octopusintelligence.co.uk

Are They Cheaper Than You?

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Competitive Intelligence Beating your competitor

You are offering a better service, but one of your competitors are constantly beating you into the ground by being cheaper than you?

They could be trying to buy a market share, and unless they have very deep pockets, their price cutting tactics will not last very long.

It could be that they have a significant cost advantage over you or that your cost structures are bulging at the seams.

All is not lost as Competitive Intelligence can help you understand what’s going on so you can decide what you are doing to do about it.

Find out what their headcount, distribution, materials and other overheads applicable to your industry.

Understand their business strategy and production process.

Assess how much money do they have to play with, do they have any debt and are they able to manage it?

Who are their suppliers and are they getting a better deal than you?

Are they sharing costs with other parts of their business etc.?

and be honest, what are they doing better than you?