To stay afloat in the modern world overstuffed with all kinds of content and social noise, you either have to dramatically stand out from the competition, or, more realistically, do the same moves your competitors do, only way better. But do you know exactly what those moves are?
Your most vital competitors are a source of extremely valuable information. Ideally, it's useful to know everything about your competitor's strategies, successes, and weak points. But the only thing immediately available is their product. And we (as business owners and marketers ourselves) know all too well that an excellent product is not enough. So what do we do to find out the rest of the story? We spy, and we use the almighty Internet for that (no, you don't just google the competitor's company - that's weak).