Most startups do not spend nearly as much time doing market and competitive intelligence as they should.
Market intelligence allows startups to make sound business decisions based on the current trends. And competitive intelligence helps startups identify and target gaps in their markets. We’ve previously talked about how valuable the York IE Fuel Platform can be for investors and for their portfolio relationships. But for these reasons and more, Fuel can also be an asset to your portfolio companies.
Why Market and Competitive Intelligence?
Market intelligence data helps startups determine the best opportunities and develop the best strategies to target those opportunities. We can think of market intelligence as a guiding force because the data collected on industry trends allows startups to set goals and then make decisions that bring them closer to achieving those goals.
Competitive intelligence, on the other hand, provides insights into the factors that may challenge a startup’s ability to enter a market. Competitive intelligence positions startups to stay ahead of other companies in the market and anticipate what their next moves will be.
Gathering market and competitive intelligence is important — and it doesn’t have to be time-consuming or tedious.
Manual research prevents startups from capitalizing on the latest trends and also staying ahead of the competition. Too much time is spent manually gathering data on private companies, which quickly becomes outdated.
Markets and competitors operate in real-time. They are constantly evolving. You need to make that market and competitive intelligence work a part of your daily workflow. Fuel provides insights readily available to make timely decisions.
By using Fuel, your startups could:
- be the most prepared in customer, partner, and strategic conversations;
- have the tools necessary to make market and competitive intelligence an effortless part of their daily routine;
- better understand the competitive landscape, which will inform product and go-to-market strategy; and
- develop a strong brand by always having something to talk about within their market.
Fuel gives startups a leg up on the competition by providing readily accessible insights and news surrounding the market and its competitors.
Learn more about how Fuel can help your startup portfolio.