RPA is businesses’ partner in monitoring competitors
With the emergence of more businesses, monitoring how they fare in the market, including the products and services they offer, is crucial to shaping your strategy for gaining more customers.
There are businesses that choose to just focus on building their brands. While this still has strengths on its own, keeping a business’ eyes on how its competitor play in the market also provides the needed knowledge to pump up its game.
How can checking in on them benefit your business? You get to adapt to what works for them and avoid their bad decisions. But while doing this, businesses must not lose their focus on customers’ needs.
That’s what robotic process automation (RPA) can address, with software robots doing the job of monitoring and analyzing relevant data from competitors. Users are also assured that with RPA, repetitive, mundane tasks would be reduced. The technology could help them save time and remove errors brought by manual processes. In turn, the marketing team can create better strategies to win more clients.
What segments of the business can RPA monitor?
— Prices: Many Filipino consumers are struggling with rising commodity prices, with the inflation rate reaching a 14-year high last December. With higher prices in the market, consumers are forced to prioritize the basic goods and things with competitive pricing.
Equipping businesses’ systems with RPA can allow them to update their prices as well as monitor prices in the marketplace.
— Products and services: Is it time to expand or explore other offerings? Monitoring your competitors and how their customers receive their products and services can give you helpful insights to craft your portfolio. A product monitoring powered by RPA can scrape data of product features, ad campaigns, and offers/promotions from the competitor’s website.
— Customer reviews: Just like what was mentioned above, monitoring your rivals in business can help you understand more of what a customer needs and wants as the technology extracts customer reviews data, which would be compiled into data summaries or summary reports. By doing so, you might realize an untapped market, which can allow you to expand your product offerings.
With RPA, businesses can be even more competitive in their respective industries. Monitoring competitors gives you an advantage in making sound decisions while gaining from cost-efficient operations.
Schedule a meeting with the RAX team and learn about the best way to monitor your competitors and increase your customer base.