Can't Find Your Competitor's Pricing? Here's My Trick
One of the biggest issues my clients have is finding out their competitor’s pricing - especially in the technology, manufacturing and professional services industries.
Today, I’m diving into my secret weapon for finding pricing and other details in your competitor’s proposals to potential clients - Freedom of Information Act (FOIA) requests.
The FOIA is a federal law that grants the public the right to access records from government agencies in the United States.
While originally designed to offer transparency in government, these requests can be a goldmine for competitive intelligence.
Here are some key ways FOIA requests can uncover your competitors' secrets:
Contract Details: If your competitor has won a government contract, you can request copies of their winning proposals, including technical and cost / pricing details.
Regulatory Compliance: FOIA requests can reveal how your competitors interact with regulatory agencies. This can include inspection reports, compliance records, or communication that shows their strengths and weaknesses.
Patent and Trademark Information: While much of this information is publicly available, FOIA requests to the U.S. Patent and Trademark Office can reveal details about your competitors' intellectual property strategies.
Government Interactions: FOIA requests can show communications between your competitors and government agencies that can uncover lobbying efforts, policy positions, or broader strategic initiatives.
I’ve worked on several projects with FOIA requests and they can be complicated. Here are my best practices:
FOIA requests must be specific. Any requests that are too broad can lead to delays or denials.
Certain information, such as personal information or trade secrets, can be redacted or denied.
Depending on the agency and the request, FOIA requests can take weeks, months or years to process. My average time for completion of a FOIA request is 1-2 months.
Each government agency has its own filing procedures and timeline. It is crucial to be familiar with the specific requirements of the agency you want to file with.
While FOIA requests can be a powerful tool, they require planning and proper filing procedures. However, blending data from your FOIA request with other competitive intelligence sources can provide you with an incredible picture of your operating environment.
It’s well worth the effort.
I specialize in filing FOIA requests and using their findings in my competitive intelligence projects for my clients.
Are you interested in starting a FOIA request? Contact me here.
- Kristen
When you’re ready, here are 3 ways I can help you:
Custom Research Project: Perfect for ad-hoc research needs including market research, general research, trend identification and competitive reviews.
Research Subscriptions: Stay massively informed on any topic, competitor or industry with my weekly and monthly research subscriptions. And you can set up as many subscriptions as you need.
Schedule a 1:1 Coaching Call: Need guidance on your project? Not sure how to approach a research project? Have a small budget and want to know exactly how I would tackle it? Set up a call with me.