the role of competitive intelligence at lexisnexis beverly parker svp, corporate and federal markets...

The Role of Competitive Intelligence at LexisNexis

Beverly Parker

SVP, Corporate and Federal Markets

LexisNexis

beverly.parker@lexisnexis.com

Summary

• Competitive intelligence is integrated into the workflows and knowledge management process at LexisNexis. Marketing, licensing, product development, and sales teams and the executive leadership all participate in and benefit from CI practices.

Learning Objectives

• What is the LexisNexis CI philosophy?

• Who collects CI at LexisNexis?• How is CI disseminated, shared,

and archived?• How might CI be derailed?• What are some of our CI best

practices?

What Is Our CI Mission?

• We provide timely and accurate intelligence analysis for Senior Management, Strategic Marketing, and EPD. It is important to understand this is not limited to simply monitoring a handful of competing companies. We also monitor and evaluate the competitive environment.

Who Collects CI at LexisNexis?

• Strategic CI -- CI team, staffed by research specialists, including MLS, MBA, and JD professionals

• Tactical CI -- EVERYONE, including– Account managers and consultants– Customer Service staff– Marketing and Strategy

What CI Sources Are Tapped?

• LexisNexis Research Services– Ad hoc and persistent queries– Industry watches, product

announcements, acquisitions, intellectual property filings

• Competitors’ Web sites• Email discussion groups

– Monitor solicitations for experiences with other companies, ventings

What CI Sources Are Tapped? (con’t)• Analysts reports

– IDC, Forrester, Outsell

• CI professional materials– Also available online at LexisNexis

• Professional association memberships– Best practices

• Conferences and tradeshows• People

– “Oops, wrong number!”

How is CI disseminated, shared, and archived?• Intranets/portal• Cross-functional teams• Internal email discussion groups• Sales Rep Support Hotline• CI “hot tips” email

– Weekly “contest”

• Weekly/monthly reports– For executive leadership– For other departments

How Might CI Be Derailed?

• Trojan horses and loose lips

• Contractors and temporary employees

• Internal turmoil– Staff turnover

• Insufficient CI “soft skills”

What are some of our CI best practices?

• LexisNexis Research Services– LexisNexis at nexis.com

• Personal News and Shared News

– LexisNexis Premium Trackers

• Web tracking• Sales CI “hot tips” contest• Email discussion group monitoring• Conferences and tradeshows• Professional associations• People

Questions?

The Role of Competitive Intelligence at LexisNexis

Beverly Parker

SVP, Corporate and Federal Markets

LexisNexis

beverly.parker@lexisnexis.com