Companies are increasingly leveraging AI competitive intelligence toolkits to remain competitive in our fast changing business landscape. In fact, 64% of B2B marketers consider AI invaluable in their marketing efforts.
AI helps crawl through vast reservoirs of data to mine for customer and market gems and can easily find more insights than a human can ever find – as it’s a volume game and AI is an insatiable computational engine.
AI in competitive intelligence helps professionals respond more rapidly to market changes in the economic and social environments and also identify white space that deserves acute attention.
In fact, 61% of business leaders believe AI helps them discover new business opportunities and solutions in the CRM market segment which is one of the highest AI ROI investment areas for B2B companies – after all – securing the right customers with the right product market fit is a cornerstone of profitable revenue growth.
Although there are many toolkits in the market mining AI insights for competitive reasons, I have found a unique company that is striving to stand out.
Meet Prelaunch.com which has just announced its AI Market research tool – an AI-powered assistant designed to simplify competitive analysis by analyzing thousands of customer reviews about competitors and distilling the key strengths and weaknesses in just 60 seconds so marketing professionals can make more informed decisions.
Prelaunch.com is pioneering a novel approach to market validation that is still a relatively uncharted territory. Many companies still place their trust in conventional methods like: marketing surveys and Fake Door Testing, which, while although useful cannot cover the broad landscape of market validation with greater data reach.
In contrast, Prelaunch offers a holistic solution that goes above and beyond. Other companies in the competitive intelligence niche market include: Gethorizon , Klue, and Veylinx to name a few. A comprehensive list of CI toolkits can also be found here.
Prelaunch.com envisions a reality where all product launches start with pre-launching and reduce their risks and operating costs by validating product and market fit more rapidly. Only after pre-launching and metrics validation will companies launch. Their vision to make our platform solid enough so companies using their service, despite their size and development stage, can acquire the most valuable data needed to make informed decisions before launching into larger markets.
I had an opportunity to interview Narek-Vardanyan, CEO of Prelaunch.com and his passion is evident as he has consistently seen one clear pattern to a company’s success or not. In his experience companies that do not undertake detailed pre-launching strategies before formal product launches more often fail versus those that apply successful pre-launch strategies.
Prelauch.com has just released to the market, its all-in-one platform, that relies on a propriety methodology (uses monetary reservations as a baseline for identifying real buying intent) to determine the real potential of a customer’s product opportunity before making investments.
Prelaunch.com serves as a comprehensive platform that guides businesses throughout the entire product launch journey. It employs a two-step validation process to gauge audience interest in the concept and subsequently determines the most effective pricing strategy for maximizing the chances of a successful launch. Eventually, all insights gathered during the process are stored and presented through a comprehensive analytics dashboard that translates statistical data into easily comprehensible visual infographics.
As the process advances through its various stages, it becomes increasingly complex due to the growing number of tools involved in the validation process. The most efficient path in this journey involves the incorporation of AI-powered resources, such as ChatGPT, specifically trained to address challenges of this nature.
The AI toolkit has a number of essential features aimed at automating some of the most time-consuming tasks that marketing professionals face.
- AI Page Builder: This native Prelaunch.com feature can generate a complete landing page copy for any product by utilizing responses to specific questions about the product.
- Survey Summarization: An AI automation tool that empowers creators to harness the capabilities of AI in analyzing and categorizing hundreds of responses from potential customers about different aspects of the product.
- AI Competitor Research Tool: The latest addition to our AI-powered toolkit, which analyzes customer comments that products receive on platforms like Amazon, evaluating overall sentiment regarding factors such as strengths, weaknesses, pricing strategies, and much more.
One of the significant advantages that AI offers to companies like Prelaunch.com in achieving their objectives is its capacity to deliver effective results, while remaining cost-efficient.
AI has found its way into the hands of millions, especially in tasks like copywriting and summarization. Each usage of AI contributes to its continuous improvement. Through skillful integration with various automated processes, Pre-Launch has been able to achieve impressive results in remarkably short timeframes.
Another compelling reason for companies to prioritize AI is that it has become the focal point for major tech giants. These companies are fiercely competing to push the boundaries of technology and provide a broader range of possibilities. The groundwork is already laid, and now companies just need to find a “forever home” for AI within their systems. Those who embrace AI early will gain a big advantage in the future.
In my Forbes AI series, I always appreciate hearing how founders learn in their entrepreneurial journeys. Here are some of Narek’s insights :
“ My decade-long experience in this industry taught me one thing clearly and that is the key to success lies in quickly identifying current marketing trends. Regardless of the size of your company or your standing in the market, if you invest in declining trends, you risk leading your company down a path toward failure and losing your market position. However, if you are forward-thinking and capable of discerning trends expected to rise in the coming months or even years, you’ll experience a domino effect of success.”
In this context, Prelaunch.com has placed its bet on AI and the massive need for more competitive intelligence research tools to de-risk innovation and commercialization practices. With 20% of businesses failing in their first two years of business, pre-launch capability development is one strategy that has a positive ROI for CEOs, and their respective shareholders.
Read the full article here
