competitive intelligence 101: an introduction

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Competitive Intelligence 101


What is Competitive Intelligence?

How can it help my business?

Step 1: Plan

Step 2: Collect

Step 3: Analyze

Step 4: Report

Test. Measure. Analyze. Modify. Repeat.


Competitive intelligence is a systematic program for gathering and analyzing information about your competitors' activities and general business trends to further your own company's goals.

What is Competitive Intelligence?


Our competition launched a new product

It’s smaller, less expensive and can do more

Our sales are down 20%

How can CI help my business?


Collecting

Planning

Reporting

AnalysisMethod, Tools and System

Data


Information

Intelligence

Needs


Step 1: Plan


What questions do we need answered?

Where can we find quality information?

Who is responsible for gathering and analyzing the information?

How will recommendations be developed and shared?




Company Overview

Promotion

Target Audiences

Products & Services

Pricing

Distribution

Human Resources



Company Overview •Mission and Vision•Historical Performance• Milestones• Awards and Recognition

•Organization• Structure (Org Chart)• Leadership: Biographies

•Goals and Objectives•Key Strategies•Key Metrics• # of employees• # and location of sites

•Strengths and Weaknesses



Target Audiences

•Key Metrics• Total• Growth Rate (+/-)

•Consumer• Demographics• Psychographics• Behavioral• By Geographic Market

•Business• Firmagraphics• By Geographic Market

•Major Clients• Length of relationship (years)




Pricing

•Pricing Strategy• Skimming or Penetration• Discounts and Promotions• Financing Options• Guarantees

•By Product and Service• Historical to present day




Products & Services

•List of each product and service• Description• Admissions Criteria• Graduation Requirements• Target Audience• Features and Benefits• Sales ($/# of Total Sales)• Year Launched/Age• Product Lifecycle

• New, Growth, Mature, Lagging

• Accreditation•Innovation• New program development –

time and frequency•Strengths and Weaknesses



Distribution

•Distribution Strategies• Channels• Partners• Reach/Market Penetration

•Learning Management Systems• What technology was being used

for online courses?•Strengths and Weaknesses



Promotion

•Budget•Strategies• Unique Selling Points• Positioning Strategy• Product and Service Offerings• Brand Image Strategy

•Media Usage and Activity• Rebuild their Communication Plan

•Website evaluation• Social media• Content marketing

•Partnerships



Human Resources

•Hiring Process•Training and Development•Compensation and Benefits•Trends• Frequency• Types of positions


Project Leader

Marketing (CMO)

Product and Services

(CAO)

Distribution (CIO) Pricing (CFO)

Human Resources

(VP, HR)

Who is responsible for gathering and analyzing the information?


Where can we find quality information?

How will recommendations be developed and shared?



Step 2: Collect


Internal Sources External Sources

Human ManagementSalesCustomer ServiceInfoCenterMarketing Technical Service

CustomersSuppliersJournalistsConsultantsResearchersGovernment

Document IntranetReportsDatabasesBusiness plans

HomepagesBlogsMediaReportsStatisticsPatents

Hybrid MeetingsSite Visits

Trade FairsSeminarsSite Visits


Other Sources


Corporate Websites


Google Alerts


Google Reader


Twitter Search

http://www.ducttapemarketing.com/blog/2010/03/22/7-insanely-useful-ways-to-search-twitter-for-marketing/


Syndicated Research

Is usually conducted by an independent research organization, and financed by its sale to all members of a given industry.


Other Sources


Step 3: Analyze

Step 4: Report



War Games

Scenario Analysis

Growth Share Matrix

Psychological Profiling

Shadowing

Reverse Engineering

Growth Share Matrix

Psychological Profiling


Summary

Quality Sources of Information

Team and Process

Be Neutral

Go to the Information

Human Intelligence

Ethical Behavior

Clear Objectives


To learn more…


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If you have any questions or comments, please contact Pat McGraw at 410-977-7355 [email protected].

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competitive intelligence 101: an introduction

Business

quality information

competitive intelligence

service historical

distribution strengths

intelligence reporting

benefits sales

frequency strengths

present day strengths