LinkedIn is a goldmine of information for professionals looking to research companies and competitors. With over 930 million users and more than 58 million companies listed, LinkedIn provides a comprehensive platform to gain insights into your industry, analyze competitors, and explore potential business opportunities.
In this article, we’ll cover how to effectively research companies and competitors on LinkedIn, offering actionable strategies for job seekers, entrepreneurs, and business professionals.
Why Use LinkedIn for Company and Competitor Research?
Researching companies and competitors is essential for various reasons, including job hunting, competitive analysis, market entry strategies, and business development. Here’s why LinkedIn stands out for this purpose:
- Rich company data: LinkedIn provides detailed company profiles, including employee count, job postings, company updates, and industry trends.
- Up-to-date information: Company pages are regularly updated by employees and employers, making LinkedIn a reliable source for current insights.
- Access to decision-makers: LinkedIn allows you to see the key personnel in a company, their job roles, and how long they’ve been with the organization, offering a direct line to decision-makers.
- Industry-specific insights: Through company posts, employee activities, and job listings, LinkedIn offers a snapshot of industry trends and market movements.
Now, let’s explore how to harness LinkedIn for detailed company and competitor research.
Steps for Researching Companies on LinkedIn
1. Use LinkedIn’s Search Functionality
LinkedIn’s search bar is a powerful tool to start your research. Whether you’re researching a specific company or exploring competitors, this search feature will help you find relevant data quickly.
1.1 Use Keywords or Filters
Enter the company name or related industry keywords in the search bar. From there, you can filter the search results by Companies to view company profiles, or filter by People to find employees and decision-makers within the company.
For instance, if you search for “Google,” you can view Google’s company profile, see their posts, and access the list of current employees on LinkedIn. You can further refine your search by industry, location, or connection level.
1.2 Explore Industry-Specific Hashtags
You can also use industry-specific hashtags to find posts and updates related to companies in your sector. For example, searching for hashtags like #FinTech or #SaaS can bring up relevant companies and their activities, giving you an overview of competitors in that niche.
2. Analyze the Company’s LinkedIn Page
Once you’ve located the company page, take time to review all the information available. The page offers various sections that can provide valuable insights:
2.1 Overview and Company Description
Start with the About section to understand the company’s mission, services, and business focus. This section often includes important details like company size, headquarters, website, and industry classification.
2.2 Employees on LinkedIn
The People section of a company’s LinkedIn page provides key information about their workforce. You can filter employees by location, job function, and connection level. This feature allows you to:
- Identify decision-makers: Find C-suite executives, hiring managers, or other key players within the company.
- Track employee growth: By reviewing the number of employees on LinkedIn, you can gauge how fast the company is growing.
- Discover team structures: See how different teams are organized, their skills, and expertise. This is particularly useful for competitive analysis.
2.3 Company Posts and Updates
Follow the company’s LinkedIn updates to keep track of their latest announcements, product launches, blog posts, or industry trends they share. This can provide insights into their marketing strategy, company culture, and business direction.
2.4 Job Listings and Growth Strategy
The Jobs section on a company’s LinkedIn page shows you open positions, giving you clues about their current hiring needs and areas of expansion. If a company is aggressively hiring for sales roles, for example, it may indicate an intention to expand its market reach.
3. Leverage LinkedIn Insights and Analytics
LinkedIn offers valuable analytics and data points that can help you further evaluate a company or competitor. Use these insights to make informed decisions:
3.1 Growth Trends and Employee Turnover
LinkedIn provides information on employee turnover rates, employee distribution, and growth trends over time. A company that shows consistent growth in employee count could be thriving, while a high turnover rate could signal internal challenges.
3.2 Alumni Insights
Alumni data is available under the People tab, where you can see where employees have worked before joining the company or where they’ve moved after leaving. This information is useful for identifying trends in employee mobility and discovering the kinds of professionals the company attracts or loses.
4. Follow Competitor Companies
Staying updated on competitor activities is critical for maintaining a competitive edge. LinkedIn makes it easy to follow competitors and track their moves in real-time.
4.1 Follow Key Competitors
Click the Follow button on a competitor’s LinkedIn page to get their updates in your feed. This will help you monitor their product launches, collaborations, industry events, and partnerships. By regularly reviewing these updates, you can stay ahead of industry trends.
4.2 Monitor Competitor’s Employee Activity
Explore the posts and activities of employees at competitor companies to see what they are sharing, which events they are attending, and what professional skills they are developing. This can provide a window into the company’s internal culture, focus areas, and priorities.
4.3 Evaluate Competitor Job Openings
Reviewing your competitor’s job postings gives you insight into their growth strategy, key business functions, and emerging priorities. For example, if a competitor is hiring for product development, it could indicate plans for new product launches.
5. Utilize LinkedIn Sales Navigator for Deeper Insights
LinkedIn’s premium tool, Sales Navigator, provides advanced features for those looking to dive deeper into company and competitor research. This tool offers:
- Lead recommendations: Identify key decision-makers and influencers within companies.
- Advanced search filters: Sales Navigator allows you to filter companies and individuals by specific criteria, such as company size, industry, and location.
- Account insights: Get alerts and updates about changes within target companies, such as job changes, promotions, or company news.
This is particularly useful for sales professionals or business development teams who need to keep close tabs on potential clients or competitors.
6. Join Industry Groups for Competitive Insights
LinkedIn Groups are communities of professionals with shared interests. By joining groups related to your industry, you can gather insights into competitors, connect with peers, and stay updated on industry trends.
6.1 Find Relevant Groups
Search for groups using industry keywords such as “Marketing,” “Cybersecurity,” or “Tech Startups.” Once you join, observe the discussions to see what challenges, opportunities, or innovations are being discussed.
6.2 Engage with Peers
Participate in conversations with members who may work for your competitors. Often, employees and industry experts share valuable information in these groups, which can offer useful insights into competitor strategies and market trends.
7. Track Industry Trends Through Influencers and Thought Leaders
Many companies and executives share important updates and insights on LinkedIn. Following industry leaders or influencers can help you stay updated on broader trends that might impact your competitors or industry.
7.1 Follow Thought Leaders
Identify and follow executives or thought leaders in your industry. They often share valuable content related to market trends, business challenges, or industry forecasts, which can provide strategic insights into how companies in your field are evolving.
7.2 Monitor Content and Articles
Pay attention to the content that leaders and influencers are posting on LinkedIn. This may include blog posts, research reports, or case studies that offer a look into what top companies are prioritizing. Understanding what your competitors’ leadership is talking about can give you clues about their future business direction.
8. Connect and Build Relationships with Employees
Networking with employees from target companies or competitors is one of the most effective ways to gather real-world insights and foster professional relationships.
8.1 Send Personalized Connection Requests
If you’ve identified decision-makers or employees from a competitor or target company, consider sending them a personalized connection request. Mention something specific about their role or company in your message to create a more meaningful connection.
For example:
- “Hi [Name], I’ve been following [Company Name]’s work in [specific area] and am really impressed with the recent developments. I’d love to connect and stay updated on your company’s progress in [industry].”
8.2 Engage with Their Content
After connecting, engage with their posts by commenting on or liking their content. This not only strengthens your relationship but also helps you stay informed about the latest updates from competitors or industry leaders.
Conclusion
LinkedIn offers a wealth of resources for researching companies and competitors. From the rich data available on company pages to connecting directly with employees, it’s an invaluable tool for anyone looking to gain a competitive edge or explore business opportunities. By leveraging LinkedIn’s search tools, following company updates, analyzing employee trends, and using premium features like Sales Navigator, you can gather actionable insights to enhance your business strategy or career path.
Remember that LinkedIn is not just a research tool but also a platform for building relationships. Take advantage of networking opportunities to foster long-term connections that can benefit you and your business in the future.