Voice of the Competitor (VOTC) - Research and Analysis

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Learn more about Voice of the Competitor (VOTC) research by downloading our eBook on VOTC - www.cascadeinsights.com/voice-of-the-competitor-ebook-download

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  • Customer

    A Fan, Someone who is Bought In, Someone who has purchased from us in the past.
  • Voice of the Competitor (VOTC) - Research and Analysis

    1. 1. Are you listening… …To the Voice of the Competitor?
    2. 2. The Power of Words “Words mean more than what is set down on paper. It takes the human voice to infuse them with deeper meaning.” Maya Angelou
    3. 3. What words do you use to describe your customers?
    4. 4. What words do you use to describe your your competitor’s customers?
    5. 5. The Power of Language  “Customer” Language  Raving Fan  Ready to listen  “Loves the Product”  “Advocate”  “Competitor Customer” Language  “Lost”  “Doesn’t Understand”  “Wasn’t Ready”  “Was Too Expensive (or was it…)”
    6. 6. But… “Did you lose or fail to Win?.”
    7. 7. A Classic View…of a Competitive Market Our Customers Their Wins Our Losses Their Losses
    8. 8. Typical Research Focus Our Customers TheirWins Our Losses Competitor Losses Focus is Here…
    9. 9. Typical Research Focus Our Customers TheirWins Our Losses Competitor Losses Focus is Here… Limited Analysis No Analysis No Analysis
    10. 10. How much of the buyer’s journey are you actually seeing? How much do you have to learn?
    11. 11. What if you had a CLEAR view? Our Customers TheirWins Our Losses Competitor Losses What about DND? Were Losses Hand Picked? How Objective was the Analysis? What about sectors only “they” play in? What about where you weren’t invited? What about when you were 4th on the list not 2nd? What about “their” competition? What about when “they” were 4th on the list and not 2nd? What defines a deal that they lose yet you weren’t invited to?
    12. 12. This isn’t just our opinion… although we did write this little eBook…
    13. 13. Innovators Dilemma “stay close to your customers doesn’t appear to be robust advice”
    14. 14. Discussion by Key Quote (DKQ) A whole book in one slide…. Coming up Next…
    15. 15. DKQ: Innovator’s Dilemma  You’ve likely heard of it…but have you read it…  Discussion by Key Quote (DKQ)  “stay close to your customers does not always appear to be robust advice”  “we needed to find an organization that could get excited about a 50,000 order”  “good management itself was the cause – managers played the game the way it was too be played”  “generally once the performance level of a given attribute has been achieved customers indicate their satiation by being less willing to pay a premium price for continued improvement in that attribute”  “well managed companies are typically upwardly mobile and downwardly immobile”
    16. 16. Innovator’s Dilemma “stay close to your customers does not always appear to be robust advice” Our Customers Their Wins Our Losses Competitor Losses
    17. 17. Stall Points “it’s what you know, that’s no longer so…”
    18. 18. DKQ: Stall Points  You’ve might not have heard of it…but you need to read it…  Discussion by Key Quote (DKQ)  Top Stall Item: - “Premium Position Captivity: the failure to shift tactics in response to the advent of a low-cost competitor or changing customer preferences…”  “After hundreds of hours of in-depth examination…we are convinced that much of the answer lies in the insights of organizational psychologists into the related phenomena of shared "mental models" and the underlying assumption sets that support them…..  During these companies' growth runs, their assumptions about competitors, customers, and sources of advantage had been dependable and useful, but somehow, across the years preceding their stalls, they had weakened, gone unquestioned, and no longer formed the basis of effective strategy.
    19. 19. Q: Why did this take 4 years…?
    20. 20. Stall Points “During these companies' growth runs, their assumptions about competitors, customers, and sources of advantage had been dependable and useful, but somehow, across the years preceding their stalls, they had weakened, gone unquestioned, and no longer formed the basis of effective strategy.” Our Customers Their Wins Our Losses Competitor Losses
    21. 21. “No we aren’t actually…” But you’re forgetting about VOC….
    22. 22. Customers, Customers, Customers  Excerpts from a recent VOC article in Quirks magazine (and many others over the years across publications, web sites, etc.):  Contained no reference to interviewing or researching:  Industry influencers  Competitor Customers  Competitor Partners  Every article remained focused on interviews with:  Current Customers  And only occasionally on:  Company Losses  Hence these studies BY definition:  Do not have a full understanding of the competitive market landscape.
    23. 23. Where VOC focuses… Our Customers TheirWins Our Losses Competitor Losses VOC focuses here Limited Analysis No Analysis No Analysis
    24. 24. VOC isn’t an answer by itself…
    25. 25. How do you find competitor customers? LinkedIn
    26. 26. “Real World” Example: - Customer Industry Distribution 0 5 10 15 20 25 BigQuery Cloudera Impala Amazon EMR
    27. 27. Where is their Arrow Pointed? Up or Down?
    28. 28. Foundational Metrics Are they growing? Are customers engaging with marketing?
    29. 29. Momentum Metrics Are they getting funding? Are they driving Search?
    30. 30. What products are complements / co-opetitors? Job Postings
    31. 31. “Real World” Example: Complements / Co-opetitors
    32. 32. Once I’ve found them, what questions do I ask? Top 10 Competitive Intelligence questions for B2B Customers.
    33. 33. B2B Customers – CI Questions to Ask Why did you start looking for a solution to your problem in the first place? Why: Was it performance concerns, manageability, support concerns, interoperability, security, or something else entirely?
    34. 34. B2B Customers – CI Questions to Ask What resources did you use to pair down your list of potential vendors? Why: Did you use analyst commentary, marketing collateral, direct interactions with competitor sales teams, influencer commentary, recommendations from peers, data from web searches, forum commentary, or information gathered from social networks.
    35. 35. Did you stop talking to certain vendors early in the evaluation process? Why: Was it the product, the cost, how it was sold, or something else entirely, and…were you one of the vendors they stopped talking to early in the process? B2B Customers – CI Questions to Ask
    36. 36. B2B Customers – CI Questions to Ask What drove you to pick the vendor you ultimately chose? Why: Was it the product, the cost, how it was sold, past experience, or something else entirely?
    37. 37. What kind of end state were you shooting for? Why: Did you meet your expectations?, Exceed them? If you stopped short of your goal – why? Was it cost, time, or there was no way to get there with the solutions you were able to find? B2B Customers – CI Questions to Ask
    38. 38. Was the implementation smooth or were their challenges? Why: Where did you run into “speed bumps” during the deployment? Were some of those avoidable from your perspective? Or were they simply expected? B2B Customers – CI Questions to Ask
    39. 39. What features mattered…once you were done? Why: Many features may be important. Which ones mattered in the end? Which ones drove the ROI up and the TCO down? B2B Customers – CI Questions to Ask
    40. 40. What type of role did partners play? Why: Did they fix holes in the solution? If so, what type of band- aids were used? Was the partner you worked with world-class? Or were they deficient in certain ways? Or were partners not involved at all? B2B Customers – CI Questions to Ask
    41. 41. How many different people were involved in the buying process and who was most important? Why: Did technical or business buyers drive the decision? How many different types (personas) of buyers were involved? B2B Customers – CI Questions to Ask
    42. 42. How much did the solution cost, how is it licensed, what has it cost you over time? Why: What type of pricing / licensing models are in use? How well aligned are you with these trends? B2B Customers – CI Questions to Ask
    43. 43.  "It's not that they can't see the solution. They can't see the problem." - G.K. Chesterton  "There are no right answers to wrong questions." - Ursula K. Le Guin  "We thought that we had the answers, it was the questions we had wrong." – Bono  Make sure you are asking the right questions…on your next competitive intelligence effort. The right questions matter…
    44. 44. Two eBooks – Go Beyond Google and VOTC
    45. 45.  …focused exclusively on the B2B tech industry  …led by a team who are technology thought leaders and competitive intelligence thought leaders  … with a rich understanding of how B2B products and services are sold, marketed, and developed.  Learn more by visiting us at:  www.cascadeinsights.com  eBooks  www.cascadeinsights.com/resources Cascade Insights The only Competitive Intelligence firm…

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