Building an effective competitive intelligence program is no easy task. But building one that meets the needs of your business and delivers actionable insights? Now you can do both. These 18 tools will help put a modern CI in place, whether it’s built to handle industry-specific data or general market research.
The “free competitive intelligence tools” is a category of software that allows users to perform various tasks such as finding competitors, collecting data and more. This article discusses 18 of the best free competitive intelligence tools.
For many small and medium firms, competitive intelligence tools can convert the luxury of specialized market research into a regular habit.
Hiring a professional analyst or commissioning a’state of the industry’ report may be costly, therefore the finest competition research tools might be a sensible option.
We’ve put together a selection of the best tools for high-level market research and online competition analysis in this article. They’ll assist you in gaining insight into your competitors, gathering marketing growth ideas in a matter of clicks, and finally achieving your company objectives.
The folks you aim to reach aren’t your only target market. The important actors in the competitive environment (both established companies and newcomers) have a significant impact on your performance.
As a consequence, you should examine not just the market size or consumer categories, but also every company that wants to exceed you.
You can undertake this research fast and efficiently with the aid of three competitive intelligence tools:
Crunchbase enables you to find out about private and public firms, analyze market and industry trends, and identify hot newcomers in your field.
You may use Crunchbase to examine competition data that you already have.
You may also use other criteria to uncover new rivals in your sector and area outside of your local environment.
Craft allows you to have access to historical information on businesses. Craft allows you to see how a certain competition has grown and gained market share over time, social presence, and brand trends, as well as market positioning and the current news.
Furthermore, every data in this market research tool is given in real time, providing you with a current picture of the organization.
To begin exploring the whole market, Webinomy’s market analysis tool simply needs a company’s website. Market Explorer generates a list of industry players and organic rivals when you input the domain.
The Growth Quadrant divides suggested competitors into four groups depending on their website’s audience size and growth pace.
Webinomy Market Explorer gives you additional information about your rivals’ traffic figures, market trends, and demographics.
Identify the top players in any business.
Market Explorer is a tool that helps you find the best deals
When it comes to business, time is crucial. To communicate with the market successfully, being on top of market seasonality, new trends, and increasing audience interests is essential.
To create strategies that send the appropriate message to the right people at the right time, you must continually assess and analyze variations in user preferences. Fortunately, you can recognize them by looking at what other companies are saying about issues that are relevant to your product. These tools may be used to investigate market trends:
The feature from the search engine enables you to keep an eye on the web for fresh information on any subject — from your company’s area of expertise to entertainment and general interests. Google Alerts may also be used to keep track of what’s being said about your specific product category, brand, or rivals.
Talkwalker Alerts operates in the same way as Google’s product does. Its findings also incorporate tweets, allowing you to get even more information.
To prevent being inundated with alerts, the program features built-in analytics that can sift the most essential remarks and email them to you.
As a more advanced step, you may consider upgrading your Talkwalker membership to include access to the complete platform in order to supplement your market research with extra social listening data and insights.
Your rivals develop fresh material every day and every hour. Some of it will be published on their blogs, while others will be published in prominent industry magazines and other places.
With a competitive analysis tool, you can remain up to current on fresh material regardless of where it was published.
Feedly is a multifunctional news and RSS reader that is remarkably easy to use. It enables you to subscribe to blogs and publications and get frequent notifications when new material is published. You may organize your rivals by channel, making it simple to keep track of them.
You may also get keyword alerts for your competitor’s brand, goods, industry, or any other subject that interests you. Feedly also includes a mobile app, so you don’t have to be tied to your computer to keep up with your competitors’ content and news.
What’s the quickest way to learn about your consumers’ requirements, preferences, and purchase habits? It’s simple: look at what your rivals are doing and see which of their techniques produces the best outcomes.
Knowing which channels provide the most traffic to your competitor’s website, for example, can show you where you should concentrate your efforts. Understanding which nations generate the most traffic can aid in the planning of international marketing strategies. What instrument might supply you with this level of competitive intelligence?
Webinomy’s Traffic Analytics is a competitive intelligence tool that lets you evaluate website traffic and assess a company’s marketing activities. This way, you’ll be able to figure out where they spend the most money and use that knowledge to your internet approach.
You only need to input one to five domains into the application. The most important website traffic data will be reported on, including the number of visitors, user interaction, audience overlap, traffic sources, top landing pages, geo-distribution, destination sites, and subdomains. This information may assist you in deducing the plans and approaches of other businesses, as well as identifying their business partners, affiliate programs, backlink suppliers, and more.
Use additional tools from the Webinomy Competitive Research package to get greater insight into rivals’ marketing campaigns and activity on certain channels. It may provide information on rival firms’ advertising costs, SEO and social media effectiveness, and content gaps, among other things.
Customer communication, engagement, and sales are all aided by email. It’s possible that your rivals will take full advantage of it. They may send attractive offers, discounts, new product announcements, and a variety of other techniques to engage and convert more members.
Unfortunately, unless you know what they’re doing, you’ll have a hard time matching or outdoing their efforts.
Owletter is a terrific competitive intelligence tool since it takes all emails from a certain website, analyzes them, and notifies you of anything essential.
You may use the tool to investigate your rivals’ offers, promotions, product launches, and other interactions with their mailing list. And you can do it on a large scale without having to sign up for their mailings.
Based on all of this information, you can figure out what engages your audience — from subject lines that attract them to open emails to content that entices them to take action — and utilize that knowledge to improve your own results.
This goes without saying: if done well, video may increase engagement, brand awareness, conversions, and income, but only if done correctly. For most individuals, the issue is establishing if their video marketing methods are effective enough. Benchmarking your performance against the competition is one method.
Tubular Intelligence, a feature of the Tubular platform, provides the information you need to assess your video’s performance in comparison to the competition and to find new strategies to expand your audience.
Tubular monitors 14 million video publishers across a wide variety of sectors on a constant basis. You may get all of these information and learn about your audience’s content choices based on top-performing videos when you use the platform. Demographic data allows you to discover more about your audience and even illustrate where you and other publications’ audiences overlap.
(Image credit: Tubular)
Technology may provide a significant competitive edge to a company. For example, the correct content management system may help provide material to consumers more quickly. A corporation may obtain more in-depth insights into their consumers’ behavior and optimize their efforts with better marketing research tools.
Of course, certain web technologies are easier to recognize (particularly if you use a similar stack already). Others are difficult to see on a website without specialist understanding.
Overall, knowing what technologies your rivals use on their websites is usually a smart idea. And here’s a fantastic tool that makes it possible in a flash.
Wappalyzer is a simple browser plugin that evaluates and reports on a website’s technology. The program can identify the content management system or e-commerce platform being used, as well as web frameworks, server software, analytics tools, advertising networks, caching tools, CRMs, dev tools, CDNs, and a slew of other things. The list of technologies that are supported is extensive.
With Wappalyzer, you’ll never have to wonder how your rivals make their websites what they are, or how they gather user data to develop them even more.
The importance of a website in terms of conversions and company development cannot be overstated. You may use it to attract your target audience and communicate with them. It’s where you showcase your offerings and persuade people to take action, whether it’s a purchase or an enquiry.
This also implies that you (and your rivals) will most likely explore and attempt new approaches to enhance the website in order to meet your conversion targets. Manually monitoring a competitor’s website would be prohibitively time consuming. Fortunately, there are a number of competitive intelligence tools that may help you with this.
Visualping is a simple application that allows you to choose a piece of a website and get notifications when that section changes. You may also choose how often you’d want to get updates, ranging from every 5 minutes to once a week. Visualping will examine that region at the predetermined period and send you an email if it finds any changes.
Deep Dive Duck is a more advanced tool that was created to keep track of general changes on competing websites. It can monitor up to ten rival websites at simultaneously, and each competitor’s website may have up to 100 pages. The program will track a variety of changes, such as new employees, location changes, price adjustments, new product lines, and much more.
The program will then send you a weekly email detailing any changes found, providing you with a snapshot of what’s been going on with your rivals’ websites.
(Photo credit: Deep Dive Duck)
Competeshark is different from the other two competitive intelligence tools in that it lets you track changes to a competitor’s website in real time. The program will go to the websites of your chosen rivals and tell you of any changes, such as content updates, layout modifications, or new deals.
The ability to observe the before and after of each adjustment is a very remarkable feature. You may analyze the level of the change in detail by comparing the new version to the previous one using a visual slider.
(Image credit: Competeshark)
Knowing how much your rivals spend on cloud infrastructure and digital goods might help you understand their business plans. Knowing what email platform your rivals use and what pricing plan they’re on, for example, might reveal the scope of their email strategy. A firm that uses a free email platform will utilize the channel differently than one that uses a complete platform; this knowledge might assist you get a competitive advantage.
Intricately is unusual in that it monitors cloud infrastructure and generates reports on parameters such as product consumption, spend intelligence, renewals, and usage information.
In addition, Intricately can assess rival product use and alert you to areas where they are gaining market share and growing worldwide.
(Image credit: Intricately)
Gaining mobile market knowledge is essential if you provide a mobile app. You must understand which markets create the most app downloads and income, as well as which of your rivals gain market share and enjoy increases in downloads, revenue, use, and engagement.
You must also maintain track of any newcomers who may pose a threat to your app’s market position. Here are two applications that make it easy to accomplish anything.
AppAnnie provides mobile market statistics that you can utilize to increase downloads, revenue, and gain a competitive advantage. It consists of various products, including Intelligence giving market data and competitive insights to find business prospects.
(Image credit: AppAnnie)
Another mobile market intelligence tool is AppMagic. It enables you to analyze the performance of applications and publications in order to spot trends and patterns that can be used to guide your growth initiatives.
You may use AppMagic to look at your competitors’ income, downloads, and other metrics, then correlate the data and analytics to come up with new ideas and prospects for future growth.
(Image credit: AppMagic)
The e-commerce sector has gotten congested. Unfortunately, there is fierce pricing rivalry since there are so many online businesses providing the same things. As a consequence, you’ll need to adjust costs periodically to ensure that you’re constantly offering the best deals.
The difficulty is that keeping track of all of your rivals’ pricing on a daily basis is impossible. How are you going to accomplish that while keeping track of tens of thousands of goods across several stores? There are tools for it as well.
Prisync is an e-commerce shop pricing software. It keeps track of how much your rivals charge for the same items as you, as well as their stock availability, and reports on it through a stunning dashboard, as well as sending you email notifications.
You can watch pricing across all of your rivals and for any product you sell with Prisync, and react quickly to any promotions or price adjustments they make.
BlueBoard not only provides pricing monitoring for e-commerce, but it also provides extra data in the form of assortment tracking.
An e-commerce business may use BlueBoard to watch rivals’ pricing, competitors’ items, and their own to figure out how the competition organizes their product range and find new distribution options based on the competitors’ strategy.
Are there any other competitive intelligence options for market research that you recommend? We’d love to hear about the tools you use and how they contribute to the success of your business.
Let us know what you think in the comments!
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The “crayon competitive intelligence” is a tool that helps users to understand the competition. It helps them to find out what competitors are doing and how they can use it against them.
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