How do you keep track of Competitors without losing focus?

I'm working on Draftly (dot) so, a tool to help people and businesses grow on LinkedIn. Recently, I had an experience that made me think. I wan on a call with a potential customer, and during the call they asked how we compared to another tool. I had never heard of it. Turns out, this competitor launched a few months ago and was getting attention in the same space. I tried to learn about them on the spot while on the call, but it didn't go well. The customer didn't sign up, and I realized I need to do a better job of staying updated on new tools in my space. As a small team, it's hard to keep up. We're busy building and improving Draftly, so tracking every new competitor feels impossible. Just curious: - How do you find out about new competitors early? - Do you track their features and updates regularly? If yes, how? - Are there tools, platforms, communities that help you stay on top of things? Would love to hear how others manage this.