Use Social Networks for Competitive Intelligence

In a recent article, Outward Insight’s Ken Sawka examines how Twitter, LinkedIn and other social networking Web sites and tools have enormous potential for establishing a network of competitor information sources.

In combination with other primary and secondary information sources, LinkedIn can contribute to locating and communicating with business professionals that have the knowledge and expertise to address your company’s competitive intelligence needs.
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Competitive intelligence analysts can similarly use wikis to collaborate with CI function practitioners and contributors to define intelligence requirements, share observations and information, and test and debate analytic hypotheses and conclusions.

Apart from reaching out to customers and potential customers, Kenneth makes the point that social networking can dramatically increase the value and impact of competitive intelligence inside their organisation.

Kenneth Sawka is the managing partner of competitive intelligence and strategy consulting firm Outward Insights in suburban Boston. Outward Insights contributes a monthly column on competitive intelligence issues to Kiplinger Recommends. Sawka has more than 20 years’ of business and government intelligence experience and has appeared on CNBC’s Squawk Box and in publications such as Time and Investor’s Business Daily.