Research Your Competitors with Free Company Information

Post from http://www.danieluk.net

One of the easiest ways to keep up-to-date on the competition is to locate free company information located on the competitor’s website. Most websites have an about us section, a mission statement and other details that will provide basics on the company and will also give you a sense of how the company interacts with its own customers. What’s even more useful is the social media outlets that the competitor uses, such as its company blog, Facebook or Twitter account. These social media outlets will often release information about the company’s activities. Free company information is available to followers, who will also sometimes comment on posts, which gives you a window into the attitude of the general public toward the company.

When customers start doing business with you, one thing you can do is ask them which products and services they used in the past that are comparable to you. This allows you to gather information on who your competitors are and whether they might be strong competition in the future. Another good choice is to ask customers that are leaving you why they are doing so. You could ask them to identify a company that they used to replace you. This is especially helpful for software developers who can set up the software to send a survey when the user uninstalls the program. When you identify where your customers are going, you can find out why your competitor is luring them away.

Go to a conference related to your industry. Competitors are bound to be there. Trade shows are one of the most effective ways to see what your competitor is offering and you may also get to try your competitor’s product. Another way to try the competitor’s product is to visit their business. You can not only see their product, but also get a sense of how they are interacting with their customers.  

Look into companies that can provide you access to databases containing information such as company financials, company directors, stocks and shares and plenty more. The internet has made much of this readily available so that you can carry out accurate research.

Consider searching for your competitors on job boards and look at the positions that they are offering on their own websites. Doing so will give you a sense of what your competitor is up to and the job description will help you understand your competitor’s values and company culture. Another good place to search is news sites, where articles are sometimes run on businesses.

Find out more about researching your competitors online.

Helen Major has a keen interest in finance and has been writing for blogs and newspapers on the subject for a number of years.

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