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LiSa SHePHerd

Use a matrix to give your competitive intelligence process
structure. List the competitors you’re assessing along the top
and the parameters along the side. When gathering information,
do not use arbitrary ratings, get actual data and include it. It’s
important to complete the matrix in its entirety—consistency
in your understanding of the competition is important so you
can confidently use the information to build your strategy.

Gathering Information the right way

CI can sound like a sexy undertaking but don’t turn it into a
dumpster diving affair. There are reasonable and unreasonable
ways to do CI. The latter can land companies in the headlines
and are more likely to hurt than help.

In most cases, a third party is needed to obtain competitive
intelligence. They can get access to details and people that
you cannot simply by merit of being independent. This method
requires the most financial commitment, but often it is the only
viable solution for getting useful CI.

The simplest starting point for CI (although it’s just the starting
point, not the be-all and end-all) is online. Looking at a competitor’s
website can provide a baseline of information, including
marketing collateral (brochures, press releases, etc.). These can
be revealing—are competitors expanding into a new region?
Opening a new distribution centre? Launching a new product?

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© 2012 Lisa Shepherd