Use competitive intelligence to grow your business
By Jo Ann Giese-Kent, Fond du Lac County Economic Development Corporation
As the economy rebuilds slowly, how can you get ahead and grow your business faster than your competitors?
Using research and competitive intelligence is more important than ever in today’s marketplace. Business decisions based on focused, relevant information can reduce risk and result in a better return on your investment.
What is competitive intelligence (CI) and how can it help? CI is the process of gathering and analyzing relevant market factors or the external business environment that can affect a company’s competitiveness. It can help answer:
- What is the current size and potential growth of your company’s industry? What are the emerging trends (opportunities or threats)?
- Are there potential mergers or acquisitions on the horizon? Are there prospective partners for your business?
- What are the demographics of my competitors and what are they doing?
The Fond du Lac County Economic Development Corporation (FCEDC) is equipped with a variety of tools to uncover this competitive intelligence. The Impact! economic gardening program enhances CI by combining customized market research capabilities with individualized consulting aimed at helping you pursue your business growth with confidence.
We mine information from high-powered databases, geographic information systems, trade associations, and government websites to glean useful information to help increase your competitiveness. As a client of the Impact! economic gardening program, your company will receive a report that summarizes, synthesizes, and analyzes this information, and provides strategic next steps for action.
Businesses receiving this information would typically pay $120 per hour or more for competitive intelligence research. As a client of FCEDC’s Impact! program, you would benefit from a significantly reduced rate of only $40 per hour.
If you’re ready to take your business to the next level of growth and get a step ahead of your competitors, FCEDC is your partner to help you get there. Call us today at (920) 929-2928 or email us at info@fcedc.com to set up an appointment to discuss your needs.
