Making the Most of the Internet

4. Research

The internet is full of information which could be valuable to your business.

4.1 It is easy to find out about your competitors online.

• Check your main competitor's websites regularly. Remember to sign up to any newsletter they offer.
• Search blogs, forumsand social media to see if they are mentioned (see 3.3).
• Careful searching may allow you to identify some of a competitor's clients. You could then get your sales team to target them with special deals.
• Sites like Alexa will give you indicative traffic levels for a competitor's website. For example, you can see if their site gets more visitors than yours.
• For more in-depth information about visitors to a competing site, you could consider purchasing data from a company like Hitwise.

4.2 You can get information about other businesses like new clients or prospective partners.

• Online credit checking services like Experian and Equifax allow you to assess the creditworthiness of potential customers.
• The Companies House database is online and fully searchable with details of company directors and accounts.

4.3 There is a wealth of legal and regulatory information available online.

• Industry trade bodies and associations often publish information on regulations and how they will affect businesses like yours.
• You can also check reputable sites like Out-Law for legal information.
• However, be wary of relying on legal information you have found online. Always consult your lawyer too.

4.4 Organisations and businesses often make research findings available free of charge.

This can help you take advantage of economic or industry changes.

• The British Chambers of Commerce and Federation of Small Businesses offer advice and information.
• National Statistics publishes a wealth of useful data online.