Competitor Monitoring involves keeping a keen eye on competition
How do you track your market competition and stay ahead? Well, the answer lies in intelligent competitor monitoring. It refers to the process of tracking competitor information like tactics, strategies, strengths, and weaknesses to use this information to leverage your business and make smart decisions. Competitor monitoring essentially involves gathering information such as the competitor’s products and services, pricing strategies, marketing campaigns, sales tactics, customer reviews, and other relevant data points.