Add competitors
Smarkly watches what your competitors publish so you can respond to it rather than discover it late.
What it does with them
For each competitor you add, Smarkly reads their public pages and keeps track of what they say and when it changes. That feeds your content suggestions: when a competitor publishes something relevant to your market, it can become a piece you write.
It is not a spying tool and it does not do anything private. It reads what anybody with a browser could read.
Who to add
Add the companies you actually lose deals to. That is a smaller list than the companies in your category, and it is the more useful one.
Two or three real competitors produce better suggestions than ten loosely related companies. If you add everyone who shares a keyword with you, the signal gets diluted by companies your buyers never consider.
If you are not sure, think about the last five deals you lost. Who did they go to?
Primary and secondary
Competitors are split into two groups, and how many of each you can have depends on your plan.
Primary competitors are watched more closely and refreshed more often. Use those slots for the companies that come up in sales conversations.
Secondary competitors are checked less frequently. Use them for companies you want to keep an eye on without needing to know the day something changes.

What you get back
Changes on their site and new content they publish, scored for relevance to your business rather than listed raw.
The scoring is about fit, not importance. It answers "is this about something you do" rather than "is this a big deal", because Smarkly has no way to know what matters to your quarter.

What it will not do
It will not write comparisons asserting you are better than a named competitor. That kind of claim is checkable, perishable, and legally interesting, so it is yours to make rather than Smarkly's.
It will not copy their writing. Competitor content is an input to what you say, not a source to borrow sentences from.