'Soft' Competitive Intelligence in the 21st Century

Blogs, wiki’s, and virtual worlds creates new opportunities for gathering intelligence. What is unique about these venues is that they are not additional published sources but a form of primary intelligence available through the 21st century’s latest electronic media.

What sets these vehicles apart from more traditional sources is that the individuals participating in these media are freely volunteering their opinions. Folks are usually more open when they believe they are interacting with their peers. The information shared in such venues is honest and raw, and not usually uncovered in traditional surveys or phone interviews, which can feel more like an official contract than an open dialogue.

So what exactly can blogs, wiki’s and the rest reveal from a competitive intelligence standpoint? Plenty. If analyzed properly, they hold insights into a wide variety of customer’s views including that of your and your competitors’:

 products, both likes and dislikes
 unique issues and challenges
 unmet needs and more.

Furthermore, the information shared is not outdated. In fact you can watch a real-time conversation unfold before your eyes on the Internet. And what’s more, you can join in on a conversation to dig deeper and learn more about a topic.

The intelligence you uncover is more of a “soft intelligence” than solid facts and figures. It reveals opinions, feelings and possible reasons and explanations behind the actions of consumers.

This type of intelligence can be just as important as hard-core statistics that come from more traditional market research.  Why?  It can not only provide insights into the underlying assumptions of consumers - which can explain their behavior today - but also how they are likely to act in the future.  Combined with qualified market research and secondary data, it can create the ultimate holistic view of the needs of customers. 

The 21st century is fast and furiously here. Don’t fall behind and miss out on some of the softer intelligence gems that can help you outsmart your competition today.