Whether it's setting up Google Alerts or a far more extensive program that leverages sophisticated, keyword-based artificial intelligence, most companies now realize the value of tracking what is being written about them online.

But, increasingly, many firms and brands are expanding those efforts to keep track of what's being said about their competitors as well. “It's something we advocate for all our clients, even in this tough economy,” says Steve Shannon, EVP at BurrellesLuce. “It really brings perspective ...