Competitive Intelligence Best PracticesPresentation Transcript
Competitive Intelligence Best Practices Matt Bennetti, salesforce.com Cathy Bensink, Tandberg
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Matt Bennetti Senior Product Marketing Manager [email_address]
Salesforce.com: Overview of Competitive Intelligence Best Practices
Why? Where? When? How? What?
Tandberg: Improving Competitive Win Rates Using Salesforce.com
Why Track Competitive Information?
Understand key strengths and weaknesses in your product or service
Understand where to focus training resources and create support tools
Improve Sales Effectiveness
Improve Marketing Effectiveness
Take market share away from competitors
Where do I track Competitive Information?
Custom Fields: Primary Competitor, Reason For Loss, Current Competitive Status
When do I Track Competitive Information?
During the Deal
Alert managers to “at risk” deals
Deliver timely competitive Information to sales
Keep competitive intel up to date
Create FUD about competitors in the mind of prospects
After the Deal
Identify successful sales strategies
Required fields to track reasons for loss
Evaluate competitive trends/win rates
How Can I Make Competitive Intel Available?
Scale: Empower Sales to research competitors
Docs tab enables security on sensitive information
How Do I Improve Competitive Visibility?
Dashboards and reports: improve strategic insight
Identify pipeline trends
Find key wins and losses for review
What Benefits Will I Get?
Track wins against competitors and share effective sales tactics globally
Examine losses and share product/service deficiencies to improve company competitiveness
Track win rates versus individual competitors and pipeline presence to identify trends and make strategic decisions
Track sales performance versus competitors and train more effectively
Start simple, with clearly defined goals
Embed competitive strategy into sales methodology
Analyze wins and losses
Deliver strategic feedback to the line of business
From our roots as a Norwegian radio factory and a pioneer of videoconferencing technology, TANDBERG is now a global leader in the communication industry.
Videoconferencing is part of a $4-5 billion dollar real-time collaboration market that includes audio, video, and web conferencing products and services.
TANDBERG’s current market share for Endpoints Globally is 37%
Tandberg – Video Conference Leaders
Key Salesforce.com Statistics:
400 Users Globally
Started in May 2002 in the Americas – 2003 Asia Pacific & 2004 EMEA
Operate as 3 separate theaters
Increase Tandberg’s Market Share
Attack Competitor Dominated Accounts
Improve Our Strategic Selling Processes
Extract Best Practices from our Wins
Deeper Pipeline Analysis
1. Attack Our Competition’s Accounts
Solution: Cornerstone Territory Planning
Formalize territory planning process by targeting companies with + $500 Million Dollars a year in sales
Account Managers Vote on 30 accounts they are not working on, and answer basic sales profiling questions
Profiling information drives sales strategy, planning, and tracking
Profile Information worksheet includes competitive information
2. Improve our Strategic Selling Process
Solution: Imbed Sales Strategy In Salesforce.com
Account Managers focus 10 of the 30 “Cornerstone” choices in SFDC
Hoovers data services to help with Account research
Strategic Account planning with Sales Management
Targeted Marketing Campaigns
Implemented Sales training, coaching and methodology
Customize account page layout to reflect sales methodology
Competitive information tracked on the Account detail
Where is our “sweet spot” for wins? (i.e. number of employees, annual revenue)
Where can we improve?
Top 100 Accounts that make up verticals where we are strong
Review pipeline to determine deals we are working on and how to move them up through the pipeline.
Future marketing investments – where should we be spending marketing dollars?
Integrate competitive strategy with selling methodology
Involve sales teams in targeting process
Join multiple department forces to attack the competition
Competitive data valuable for marketing teams to determine success rates
Deliver Timely sales collateral:
Market references, white papers, references available via views
Formalized process for territory planning
Integrate Hoover’s (D&B) directly into salesforce.com
Investment to be made to purchase Partner Portal
Begin to report not only on AOP and cornerstone completion – but how many wins will result because of it.
Plan our investments for our future around what we discovered in this process
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