7 tips to subtly snoop on the competition

You don’t have to be James Bond to spy on your business rivals. Just make good use of BuzzSumo, Google Alerts, Twitter lists and local newspapers.

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When launching a business, it’s essential to learn as much as you can about your competitors.

How can you create a comprehensive, cohesive business plan or marketing strategy if you don’t know what you’re up against? Knowing what other companies offer in your target market helps you determine whether your product or service is market-ready, and it gives you a better idea of which gaps you can fill.

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Here are seven ways to (legally) spy on the competition:

1. Use the right tools to monitor competitors’ social media activity.

Performing a generic search on Google just produces results from the top websites within your niche. This might give you a few pointers, but it won’t provide substantive direction or insight. Use these two tools to dive deeper:

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