Best Market & Competitive Intelligence Platform That You Must Know About

Every business has competition. Knowing what they're doing is a great idea.

And, if you're here, you're presumably already running a Market And Competitive Intelligence Platform. Maybe in a fragmented manner, with each team assigned to do their segregated assignment "when they have time."

If that's the case, you've most certainly found little value in competition intelligence thus far, but you still need actionable insights into your rivals.

This is where market and competitive intelligence tools come in: they assist to streamline and automate the process of obtaining, evaluating, and acting on competition data.

In this blog, we will look closely at the 5 finest Market and Competitive Intelligence Platforms you can use to understand your market landscape and rivals better.

What is Market & Competitive Intelligence?

Market and competitive intelligence is the process of obtaining, evaluating, and acting on information about your rivals in order to acquire a competitive edge in your sector.

A market and competitive intelligence program can help you understand your rivals' tactics, strengths and weaknesses, as well as their overall market position. You may then utilize this information to make informed decisions and promote business success.

While most of the competitive intelligence techniques in this article may be used for both competitive intelligence and market intelligence, there is one key distinction: CI focuses on your rivals rather than the whole market, whereas market intelligence does.

What are Competitive Intelligence Tools, and How do You Choose the Right One?

Market & competitive intelligence tools assist you in establishing your Market & Competitive Intelligence Platform by acquiring, evaluating, and presenting all relevant information about your rivals.

There are several M&CI tools available, each with its own set of features and capabilities.

So, how do you pick the best one for your business? Here are some things to consider:

Identify your company needs: Determine what you need to measure and what the purpose of your M&CI platform is. You may only need to monitor social media performance. Or, more likely, you're interested in tracking pricing plans, traffic statistics, keyword research, and other factors.

Your budget: Most market and competitive intelligence products include free versions with basic functionality, as well as more expensive ones with extensive data visualization and customizable reports. Determine your budget for a M&CI tool and then seek for choices that fit inside it.

Product characteristics: Popular market & competitive intelligence tools include competition analysis, market trend monitoring, website competitor tracking, and social media monitoring. Evaluate which features are critical to your business and compare them among tools.

Ease of use: Even if you're following several rivals, a competitive intelligence tool should deliver important information while being simple to use. Look for a tool that is simple to use and provides clear insights; this will save you time and hassle in the long run.

Integrations: Many firms utilize a variety of tools and platforms to monitor their internet presence. Choosing a M&CI technology that interfaces easily with your existing systems is critical.

Quadrant Knowledge Solutions’ report on Market & Competitive Intelligence Platform market share, 2022, Worldwide & Market Forecast: Market & Competitive Intelligence Platform, 2022-2027, Worldwide reports include a detailed global market analysis of major vendors. The research comprises vendors’ product features, functionalities, and competitive differentiating factors. The research provides competitive landscape and vendor analysis to enable technology vendors to enhance their understanding of the market and implement a growth-oriented technical roadmap.

Top 5 Market & Competitive Intelligence Platforms

Klue

Klue is an AI-powered competitive intelligence platform that enables product marketers and competitive intelligence teams to gather, curate, and distribute actionable competition data to frontline sales teams.

The platform brings together externally obtained competition data and internal expertise from field-based salespeople in one location, allowing sales agents to easily access the information they need to win more business. Klue's competition analysis data is derived from a variety of sources, including website updates, social media postings, press releases and media mentions, product launches, and customer feedback, among others.

Moat

Moat is a cloud-based analytics and intelligence tool that provides access to a creative ad gateway featuring your rivals' digital creative history, including commercials and press releases.

Moat collects all the commercials for a certain brand in one place and allows you to compare your brand's messaging to those of your competitors. You may get inspiration from your rivals' work from up to three years ago, examining their content and improving your own advertising approach. Moat watches and even analyzes billions of ad impressions from competitive websites to assess the performance of their ad campaigns. It also tracks which clicks come from humans rather than bots.

Wappalyzer

Wappalyzer is a free browser plugin for Chrome, Firefox, and Microsoft Edge. It determines the tools and technologies the website in your browser is utilizing.

You can see why it's a top competitive intelligence tool. Use it to learn what your rivals' websites are made of, how they optimize their pages, and what technologies they use to send automated emails. You may set up notifications for technological changes, and by comparing technologies across websites, you can determine whether your own tools deliver comparable levels of success, or if it's time to update.

Crunchbase

Crunchbase is an online database that gives detailed information on technology startups in your field. The basic tool is free, but it also provides two premium editions for more in-depth examination.

Crunchbase is a top competitive intelligence tool since, in addition to a business directory, it provides insights into investments and funding, founding members, mergers and acquisitions, news, and industry trends. Crunchbase reports on new rivals and key changes that you should be aware of. The platform focuses in giving data about private firms and startups that would otherwise be difficult to locate.

Zoominfo

ZoomInfo provides access to a large database including contact information for employees from millions of firms. The platform not only gives useful information into targeted organizations, but it also includes a tool called FormComplete, which is intended to speed the form-filling process and increase conversions. With FormComplete, potential clients simply need to input their email address, and ZoomInfo will fill in the rest.

ZoomInfo also offers the Enrich function, which helps to complete and enrich your existing marketing database by filling in any missing information with data accessible on the site.

Conclusion

Being aware of and using the finest Market & Competitive Intelligence platform is critical for keeping ahead in today's competitive company environment. These technologies give significant information into rivals, allowing for better decision-making and strategic planning. Embracing these technologies provides firms with the knowledge they need to handle problems and capitalize on opportunities, eventually contributing to long-term success.