Speaker 1: We will now have a look at how we can capture the metrics for monitoring your competitors. You can start by visiting your competitors' official websites. They often provide information about their products, services, company profile, the mission that they have, and the key executives. Look for press releases, product announcements, and updates to gain insights into their latest activities. Another useful source of information are your competitors' annual reports and financial statements. Publicly traded companies are required to file annual reports and financial statements, which can be accessed through their investor relations websites or the regulatory authorities, such as the U.S. Securities and Exchange Commission, or known as SEC, for U.S. companies. These reports provide detailed information about the company's financial performance, market share, business strategies, and risks. Another interesting source to consult is that of industry publications and reports. I would suggest to subscribe to industry-specific publications and research reports that provide insights on your industry and competitors. These publications often cover market trends, competitive landscapes, and industry benchmarks. Examples include industry magazines, market research reports, and analyst reports. Then you also have news and press releases. You should try to monitor news outlets and press releases related to your competitors. News articles can provide information on product launches, strategic partnerships, mergers and acquisitions, leadership changes, and other significant developments. Set up Google Alerts or follow relevant industry news websites to stay up-to-date. Another tip that I can give you is to follow your competitors' social media accounts, including LinkedIn, Twitter, Facebook, and Instagram. This allows you to monitor their posts, announcements, customer interactions, and engagement strategies. Additionally, explore their website, blogs, and forums where they may share insights, thought leaderships, or updates. Next, you should also try to attend industry conferences, trade shows, and exhibitions where your competitors may showcase their latest products or services. These events provide opportunities to observe their presentations, interact with their representatives, and gather information about their latest offerings and strategies. Another interesting source is to monitor job postings and employee profiles on professional networking platforms like LinkedIn. This can give you insights into your competitors' talent acquisition strategies and areas of focus and potentially new initiatives that they have been working on. You can also gather data from customer reviews and feedback on websites, review platforms, and social media. This can provide you insights into how the customer experiences, the strengths and weaknesses, and areas where your competitors may be excelling or falling short. You might even go as far as doing some actual qualitative customer interviews that have the product of the competition to hear what they think about them. Something that's also quite fun to do is to test out your competitors' customer support channels, such as their support hotline or social media accounts. This can help you to understand how they're addressing customer issues and feedback and identify areas where your own customer support could be improved. Another trick that I can give you is to try and search within your company employees that worked at the competition. Try to have an interview with them and see if they can provide any information related to your competitors that might be valuable for your product. It is not entirely correct to do it that way, but if they're willing to provide you that information and it stays completely anonymous, it could prove to be very valuable as well. And the final source of information is using competitive intelligence tools. There are various competitive intelligence tools available that aggregate and analyze data from multiple sources which provide you detailed reports on your competitors' performance, market share, digital presence, and more. Examples include SEMrush, SimilarWeb, and Owler. By using these methods, you can easily monitor your competitors' products and stay informed about their moves in the market. This can help you to stay competitive and make informed decisions for your own product strategy. Okay, that concludes the lecture on monitoring the competition.