The phrase 'keep your friends close and your enemies closer' springs to mind here!
It is just as important to know as much about your competitors, and their marketing activity, as it is your own company. You can learn a lot from researching what works and what doesn't for those in your industry.
This article looks into ways in which you can use your competitors to your advantage in terms of SEO.
There was a time when competitors were a universally hated element of SEO. If you worked hard to get ranked highly for a certain keyword, and some random competitor beat you to rank higher, you’d feel that your hard work was all for nothing. In a digital world with finite space, competition generally means less traffic and higher time and costs to achieve certain results. Fortunately, today’s Internet is much roomier, with less finite space to worry about. Accordingly, competitors aren’t the nasty, plague-like things they used to be. In fact, if used correctly, competitors can be a good thing for your SEO strategy.