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AWARE: UK competitive intelligence consultants offering competitor analysis and research services, competitive intelligence training & workshops and CI and marketing strategy consultancy.

 
 
About Us > Help & Support > FAQs > Question 7: Finding competitors online

Marketing & Competitive Intelligence FAQ
Finding potential competitors
using the web and online sources


I have an idea for a business and would like to research the market to see what, if any, other businesses are doing the same thing. I am currently utilizing the Internet to search for potential competitors and services that may be similar to mine. I am finding that many of my searches on various search engines are futile because there are so many different ways to query the information.... In other words, if I neglect to query ALL possible combinations of words many potential competitors do not appear. Do you have any suggestions as to the best method someone like myself can utilize the Internet to research the current market without going to a professional, thereby giving up my idea?

First, you should be able to go to a professional. However you should also insist that they sign a non-disclosure agreement before giving them any information. These are legal documents, which protect you if somebody who you pass information to breaks the terms of the agreement. You can put in clauses relating to damages so your ideas should be safe. Furthermore, using a professional information searcher is more likely to get results quickly and easily, and you are less likely to miss something important (assuming, of course, that you find a competent searcher).

With regards to searching on the Internet look at the advanced search facilities on the search engines you use, which may help you to restrict topics more precisely to what you are looking for. You should also consider including complex search terms to limit the results shown (see the help pages on each search engine for these). For example if you are searching on the single word BOND (not a clever search - but it makes a good example) you would get sites for James Bond, Equity Bonds, Chemical Bonds, Glue (as in bonding), and probably a number of others. Other tricks are to find a relevant site, and identify keywords that this site uses (both in the page and in its keyword Metatag which you can see at the top of the source code of the web-page, using the View Source command on your Internet browser). You then use these keywords to search with.

Also, don't restrict yourself to just one search tool but use several. Research has shown that no single search engine covers more than a fraction of the web, and more importantly, they don't all index pages in the same way. So by using several search engines you cover more pages, and also different ways of ranking the pages that are actually found. (However even using several search tools, you still miss out pages hidden in what is known as the deep web or invisible web. That is why using a professional searcher can pay off).

As well as the well known search tools such as Google, Yahoo, and Ask also consider using more specialist search tools. There are several of these to consider. You can use concept search engines such as Kartoo, and less popular, but still extremely good, search engines such as Exalead which allows you to refine searches easily and currently (January 2007) offers more advanced search options than any of its competitors, and Windows Live Search (formerly known as MSN Search) which includes some good classifications and graphical ways of enhancing search results. (You can learn about the latest tricks and tips for searching at web-sites such as http://www.searchenginewatch.com and http://www.searchengineshowdown.com both of which give guides to better searching and list the top search engines and their features.

Also worth watching out for are the major commercial search databases such as Factiva, Dialog and Lexis Nexis. (Recently these services have started to offer occasional users the flexibility of paying for individual articles without the need to purchase a subscription, so you should also consider using one of these products to search for any relevant news stories rather than restricting yourself to potential competitor web-sites).

Finally, don't ignore offline sources. These include trade directories (many of which are online also) but also trade associations, prospects, potential suppliers and others. Contact Us for more information on going down these routes.

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Quick Tip: Deadly Sins

The Seven Deadly Business Sins

1) Greed - Are you satisfied with what you've achieved or are you always seeking more, and never consolidating and strengthening what you currently have?
2) Opinion - Do you ever dismiss ideas without analysis? There have been many opportunities that were missed because opinionated management failed to see the wider picture.
3) Routine - Just because something worked in the past does not mean that it will continue to work in the future.
4) Emotion - Is the reason for your decision based on analysis, or emotion? Many managers are driven by their fears and desires without ever stopping to justify the reason for their fear or hatred or love. Often these prove to be unjustified and unjustifiable.
5) Ego - Do you make decisions because you are the cleverest, the biggest, the market leader? Are you obsessed with your own image and abilities? Many leaders in the past also thought that they were invincible. A quick look at history shows that they were not!
6) Success - Over-confidence is dangerous and can blind you to competitors seeking to emulate your success.
7) Hope - Can you justify your reasons why things will improve, or are you just burying your head in the sand, and refusing to see reality?

These seven deadly business sins are based on some work by Ben Gilad, one of the foremost Competitive Intelligence experts. Businesses need to understand their blindspots - what they would rather not see, and work to remove them. Each of these seven sins is a type of blindspot if it dominates the thinking within the company. It's OK to have each to a certain degree, balanced by the others. (All businesses need to believe in themselves, have hope, aim to make money....). The problem is when one aspect starts to govern the way things are done in the company, preventing rational and logical thought.

 

Books - Art of the Long View

Recommended Book

Art of the Long View
The Art of the Long View
Peter Schwartz
Buy UK £ or US$
This is an excellent introduction and guide to scenario planning.

Read our review of this book

If there is one book that is head and shoulders above all the other on the subject of scenario planning, this is it. Schwartz's book is a joy to read and gives a tremendous introduction to the subject, leaving the reader with a firm grounding and understanding in the way that scenario planning has helped many companies gain competitive advantage in their industries. The text includes many case studies and anecdotes making it a must-read book. Peter Schwartz is not only one of the world's leading scenario planners - but an excellent writer also.

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For more recommendations visit our book selection.

 

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Finding Competitive Intelligence using Online Sources

AWARE consultants are experts at discovering competitor information online and have developed a market-leading course on Finding Competitive Intelligence using Online Sources. This course has been given as an in-house course to numerous companies across industries (IT, publishing, telecoms, chemicals....) and countries, as well as publicly at SCIP annual and European conferences, the London International Online Information Conferences and other similar events.

The workshop has received high praise for its unique approach to finding competitive intelligence on the Internet. The workshop - available as a half-day or full day in-house training course - teaches attendees how to find actionable competitive intelligence rather than just present a list of sources that quickly date. Like all AWARE's in-house training, the course can be customised to focus on industry or competitive area.

For more information on this workshop and how it can help you become a more effective Internet researcher check out our Competitive Intelligence Training and ask us about our courses on finding CI information.

 

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Our services in competitive intelligence research, competitor analysis and CI training will help you integrate and use competitive and marketing intelligence in your business, strategic and marketing planning processes. Whether you need research, advice or training, our mission is to support our clients so that they achieve their growth objectives.

For the best UK & European competitive intelligence and competitor analysis services, contact us today.

AWARE Phone numbers: 0845 430 9125 (International: +44 20 8954 9121). Fax: 0845 430 9126 (International: +44 20 8954 2102)

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Last page / site update: Wednesday, June 9, 2010

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