Learning how to find similar companies to yours is the first step in developing a strong market and competitive intelligence strategy for your startup.
Knowing the landscape of your market is crucial, whether you’re keeping your friends close, your enemies closer, or looking for your next opportunity.
Startup founders should monitor their competitors and comparators to better understand how to differentiate their product and messaging for customers. Portfolio managers and investors, meanwhile, need to constantly scout new and existing companies to find their next investment or startup partner.
Fuel, York IE’s strategic growth platform, helps busy founders and portfolio managers find similar companies in seconds, so they can conduct market research and competitive intelligence in minutes instead of hours. The Related Companies feature provides Fuel users a snapshot of the major players in a market. Simply choose a company, and Fuel instantly gathers information on that company’s key competition.
Start Finding Similar Companies
How to Find Similar Companies in Fuel
Look up a company in the Fuel search bar and click on its name to navigate to the company profile. Scroll down to the Related Companies tab and click the Fetch Companies button. Within a few seconds, Fuel will generate a list of five similar companies that are related in market and use case.
Consider the example below, which features York IE client CloudApp, a visual communication tool for screen recordings, annotated images and GIFs. Instead of generating a shortlist of all workplace communication tools (Slack, Google, etc.), Fuel finds similar companies within the niche market of screen recording/presentation platforms.
Once you’ve identified a core list of similar companies, you can quickly create a watchlist of these competitors or comparators. Instead of scrambling to track all of the companies in a space, Fuel can send you automated updates straight to your email or Slack.
What to Do Once You’ve Found Similar Companies
Once you find competitors and comparators in a market, what’s next?
If you’re a founder of a cryptocurrency security company, for example, you could build a watchlist to track your core competitors in that niche market. Once you identify your peers (or foes), Fuel helps you track their owned and earned content, as well as any funding announcements or acquisitions. This, in turn, points you towards publications that may provide media coverage, or investment entities interested in your space.
Alternatively, a portfolio manager or incubator that typically invests in cryptocurrency technologies can monitor companies that align with the rest of its profile. You can analyze a prospect’s strength of voice or social audience and get a feel for which companies are gaining traction in the investment community.
Things move fast in the startup world. Fuel delivers market insights to busy founders and investors and helps them find similar companies faster — eliminating the need to comb through blogs, tweets and LinkedIn posts to find the valuable nuggets of information.
Sign up for Fuel and get started today!