Competitive Intelligence Tools in 2021, Including NetBase Quid

The dream of every entrepreneur is to know their competitors’ every move. It looked almost impossible some years back to get all this information about your rival. It’s now easier to keep track of news affecting your business thanks to competitive intelligence tools. Read on to know different tools and use them to your advantage.

What is a Competitive Intelligence Tool?

They are software and application tools that help you gather essential information about your competitor. Entrepreneurs use this information to strategize their business for future development. Your choice of a tool depends on diverse factors. Let’s look at a few tools you can use.

NetBase Quid

Netbase Quid is a website designed to help you gather and analyze information from a consumer perspective. The best people to gauge your company’s performance are customers. Using your client helps you to understand your products and their rank in the market.

The website helps you to ask the right questions for better results. NetBase Quid produces actionable results as it gathers practical information from your clients. The tool goes deeper than giving you figures as it analyzes the emotions behind every comment about your product. It will tell you why there is a decrease in sales and not just the percentage decrease. 

NetBase Quid is easy to use. The only thing required from you is to provide details of the information you want to analyze and the platform. Researchers on the website will take up your request, and you will have your results in a short while.

Semrush Traffic Analysis

 Semrush Traffic Analysis is used for specific competitors and new market research. Its features have helped dozens of entrepreneurs to escalate their business. People love Semrush because it helps traders benchmark other businesses. If you have more than one business that you want to emulate in your next financial year, bring them all to Semrush for a comparison. It will tell you which company is performing and at what percentage, thus ensuring you are benchmarking with the right company. Let’s look at how to choose the best tools.

Type of Information to Analyze

The tool you use depends on your objective. The first thing to consider is what type of information you want to analyze. Different tools are used for different purposes. Ensure that you have decided on what you want to analyze. Otherwise, you will count losses since you may pay to analyze data using some tools.

Consider Cost

How much do you want to spend on competitive intelligence? If you want detailed information about your competitor, you may require paying an extra coin. However, some tools have plans and offer to analyze your data for free. If yours is a one-time analysis, think of looking for apps with free trials. Besides, you won’t miss a few free sites on the internet when you do thorough research.

How to Use Competitive Intelligence Tools

Most of these tools are easy to use. They have a friendly user interface that directs your steps in the process. Your role in this software is to provide them with the information they need and analyze your data. Let’s assume you want to know the consumer’s views about your product. The only thing you need is to provide NetBase with information about your platforms and the products you want to research.

Knowing your competitors’ secrets is as easy as using competitive intelligence tools. You have no reason for any significant development to bypass you when you have these tools. Increase sales and conversions by choosing the best software for your research.

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