Today , we ’ re going to break down this topic step-by-step , so that you have a clear understanding of how you can effectively execute marketing intelligence on your competitors – and what software tools you can use to get started immediately .
Step 1 : Planning and Strategy Development
First , you need to identify your competitors ( if you haven ’ t already ) and set your objectives . Determine what you want to learn about your competitors in order to form your marketing strategy . Then allocate resources and a budget to execute the project at each level .
If you don ’ t already , consider using a project management software like Asana ( https :// asana . com /) or Trello ( https :// trello . com /) to allocate tasks , resources , and budgets . These tools can help in tracking the progress of your marketing intelligence efforts and ensure that resources are efficiently utilized .
Step 2 : Data Collection
There are a number of software tools you can use to help you gather relevant data on your competitors that align with your objectives . Here are a few of my recommendations :
1 . For Analysis of Competitors ’ Websites and Social Media Channels : SimilarWeb ( https :// www . similarweb . com /): Use SimilarWeb to analyze competitors ’ website traffic , sources of traffic , and user engagement . Input the competitor ’ s URL to get a comprehensive report on their online performance .
SEMrush ( https :// www . semrush . com /): SEMrush is a powerful tool for SEO and PPC competitor research . Use it to analyze competitors ’ organic search rankings , paid advertising strategies , and backlink profiles .
2 . For Legal Directories and Review Sites : Avvo ( https :// www . avvo . com /): Search for your competitors on Avvo to view their client reviews , ratings , and legal guides they have published . This can give you insights into their reputation and areas of expertise . Martindale-Hubbell ( https :// lawyers . law . cornell . edu /): Use Martindale- Hubbell to view peer reviews and client reviews of competitors , helping you understand their standing in the legal community .
3 . Competitive Intelligence Software :
• Crayon ( https :// www . crayon . co /): Crayon tracks over 100 different types of online data to provide real-time competitive intelligence . Use it to track your competitors ’ digital footprints , including website changes , social media activity , and online reviews .
• Kompyte ( https :// www . kompyte . com /): Kompyte helps in tracking competitors ’ online marketing strategies in real-time . Use it to monitor changes in competitors ’ website content , email marketing , social media activity , and online advertisements .
• Owler ( https :// www . owler . com /): Owler provides news alerts , company profiles , and competitive intelligence on your competitors . Use it to stay updated with competitors ’ latest announcements , acquisitions , and industry positioning .
Step 3 : Data Analysis
After you ’ ve gathered the necessary data , it ’ s time to delve into a deeper analysis — start to note interesting patterns as well as the strengths and weaknesses of your competitor ’ s initiatives . Consider using these two tools to support your data analysis :
• Tableau ( https :// www . tableau . com /): Import the collected data into Tableau to create visualizations and conduct a comprehensive analysis . Use its various data visualization tools to uncover trends , patterns , and insights .
• Microsoft Excel : Use Excel ’ s advanced functions and formulas to analyze the collected data . Create pivot tables , use VLOOKUP , and employ various charting tools to visualize the data .
Step 4 : Reporting and Visualization
Once you ’ ve analyzed your data , it ’ s time to create your reports and visuals to pull the key takeaways out of your research and relay the information you ’ ve gathered to your marketing team . Here are a couple of helpful tools in creating dashboards :
• Google Data Studio ( https :// datastudio . google . com /): Connect various data sources to Google Data Studio to create interactive and real-time dashboards . Use it to visualize your findings and share insights with stakeholders .
• Power BI ( https :// powerbi . microsoft . com /): Similar to Google Data Studio , Power BI allows you to create comprehensive dashboards and reports . Use its wide array of visualization tools to present your marketing intelligence findings .
Step 5 : Continuous Monitoring and Evaluation
It ’ s important that the scope of your project doesn ’ t end with reporting and visualization ! Make sure to set up alerts and notifications to ensure continuous monitoring and evaluation of competitors ’ activity . I recommend the following two platforms :
• Google Alerts ( https :// www . google . com / alerts ): Set up Google Alerts for your competitors ’ names , key personnel , and specific keywords related to their business . This ensures that you receive real-time updates whenever they are mentioned online .
• Mention ( https :// mention . com /): Mention is a social listening tool that
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