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Develop your competitive intelligence skills

This is an introduction to competitive intelligence, which includes definition, 5 flavors of competitive intelligence, some analytic tools like SWOT, STEEP, BCG, The Radar Screen, and Win Loss Analysis. Also includes some competitive intelligence books for those beginning in the field.

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Including our latest book, "Win/Loss Analysis: How to Capture and Keep the Business You Want."

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Develop your competitive intelligence skills

  1. 1. Developing Your Competitive Intelligence Skills Copyright ©2016 Ellen Naylor The Business Intelligence Source Ellen Naylor @ellennaylor +1.720.480.9499 (USA)
  2. 2. It’s an Extension for Info Pros CI is NOT a Stretch July 2016 ©The Business Intelligence Source
  3. 3. The systematic process of gathering, analyzing and disseminating information about your competitors’ activities, products/services and the external market environment to help your company achieve its goals. . Competitive Intelligence July 2016 ©The Business Intelligence Source
  4. 4. Be Broad What is Competitive Intelligence? Customers Economy Culture Regulation Potential Disruption Technology Suppliers Distributors Industry Non Customers Substitutes Competitors July 2016 ©The Business Intelligence Source
  5. 5. The Intelligence Process 2. Planning & Direction 3. Information Process & Storage 4. Collection 5. Analysis & Production 6. Dissemination 1. Intelligence Users & Decisionmakers Other Users Which competitors, industry trends, opportunities, challenges do you target? July 2016 ©The Business Intelligence Source
  6. 6. Collection Continuum Public Intelligence Social Intelligence Human Intelligence July 2016 ©The Business Intelligence Source
  7. 7. The Information Spiral Target Company Ex-Employees Suppliers Government Associations Distributors Trade Unions Customers Ex-customers July 2016 ©The Business Intelligence Source
  8. 8. The Importance of Human Networks • Best source of CI • Build trust one person at a time • Eliminate silos and blind spots • Extends a CI group’s reach & social capital • Not expert in every function of your business • Professional challenge: people participation • Links to sales & marketing essential July 2016 ©The Business Intelligence Source
  9. 9. Human Networks • CI networks are not like a pair of socks – One size does not fit all • Networks take time to develop – Require person-to-person contact • Network maintenance – Current, growing and secure • Most successful CI programs develop and use decentralized, relationship-based networking July 2016 ©The Business Intelligence Source
  10. 10. Your Focus for Competitive Intelligence Strategic Tactical Technical Counterintelligence Benchmarking July 2016 ©The Business Intelligence Source
  11. 11. Strategic -Analysis of major competitors, customers, suppliers, distributors - Acquisition/merger/divestiture activities - Opportunity analysis - Product development - Scenario planning - Executive personality profiling July 2016 ©The Business Intelligence Source
  12. 12. Tactical What CI will improve the sales and marketing of your products? - Changing market environment - New technology or competitors - Pricing - Distribution - Strength & Weakness analysis Win-Loss Analysis, Surveys, Trade Show Analysis July 2016 ©The Business Intelligence Source
  13. 13. Technical New Production Introduction Time Line S i g n a l I n t e n s I t y Discussions Gray Literature Scientific Papers R&D Alliances Joint Ventures Patent s Process Development Product Announcement Product Sales Source: Competitive Intelligence Review, Vol. 7, No. 3, ©1996 John Wiley & Sons “Technology Intelligence & Technology Scouting,” Merrill Brenner Keeping Abreast of Science & Technology: Technical Intelligence for Business by Bradford Ashton and Richard Klavans
  14. 14. Counterintelligence Measures to prevent a competitor from gaining data or knowledge that could give them competitive advantage over your company. July 2016 ©The Business Intelligence Source
  15. 15. Benchmarking Collaboration - Set high performance targets - Accelerate company culture change by looking externally - Bring accountability to your company Strategic Competitive Best-in-class July 2016 ©The Business Intelligence Source
  16. 16. Thorough collection and brilliant analysis are worthless without communication • Newsletters • Monthly summaries • Intranet site • White papers • Ad-hoc reports • Comprehensive studies • Special presentations • CI Road Shows Continuous Information Largely self-initiated Standing client requirements Special Projects Client or self-initiated Source: Kodak
  17. 17. Role of SWOT Analysis In Crafting a Better Strategy  Develop a clear understanding of a company’s - Resource Strengths - Resource Weaknesses - Best Opportunities - External Threats  Drawing conclusions about how best to deploy resources in light of the company’s internal and external situation  Thinking strategically about how to strengthen the company’s resource base for the future Bensoussan and Fleisher, SCIP 2002
  18. 18. SWOT Approach 1. Threats 2. Weaknesses Your Company 3. Opportunities 4. Strengths Bensoussan and Fleisher, SCIP 2002
  19. 19. SWOT Strengths • Market leader in most products • Strong Brand ID • Strong technical support, including engineering & customer service • High responsiveness • High quality products & guarantees • Professionalism • Sales force, an asset • Field technicians, an asset Weaknesses • Many products not essential to operations • High price • Distribution is confusing: could be cleaner • Ill will with some distributors July 2016 ©The Business Intelligence Source
  20. 20. SWOT Opportunities • Improve & innovate: Listen! – Sales, Distributors, Dealers, Customers, Engineering… • Specific business XXX – More applications – Other industries • Potential Alliances • R&D Center – Test new products – Develop products that are essential to customer’s operations – Test competitor’s products Threats • Competitors “catching up” -- Especially Competitors A+B • Competitor C penetrating • Competitor D alliance in business XXX • Competitor C Engineering Systems’ claims • Patent infringement • M & A of competitors July 2016 ©The Business Intelligence Source
  21. 21. BCG Matrix ShareLong-TermHistorical MarketGrowthRate Long-term Historical Growth of Sales F A B D C E Holding Share Losing Share Gaining Share Source: Adapted from “The Use of the Growth Share Matrix in Strategic Planning,” A Hax & N S Majluf, 1983 Interfaces, 13(1), p. 52. July 2016 ©The Business Intelligence Source
  22. 22. Telco: Presentation-BCG Relative Market Share AT&TNTIRolm NEC Intecom July 2016 ©The Business Intelligence Source
  23. 23. Sociological - Social trends, issues, demographics, consumer demand patterns Technological - Impact of new technologies and applications, development in network, IT & communications technologies Economic - Effect of macroeconomic issues e.g. employment trends, interest & exchange rates, trade & tariff issues Environmental - E.g. greenhouse gases & global warming, waste reduction & pollution control initiatives, pollution control regulations Political - Regulatory & legislative requirements, political ideology, change of government, government policy STEEP Analysis Issues, trends and factors from the external business environment ©The MindShifts Group Pty. Ltd
  24. 24. The Radar Screen: Network Services AT&T Verizon CenturyLink BellSouth Verizon Comdisco Wang NEC-ENS Intel Sprint NetSolve NCR Lucent Carriers Professional Services RBOCs Equipment HP Source: Adrian Slywotzky Value Migration. 1996 HBS Press Competitors by Core Service July 2016 ©The Business Intelligence Source
  25. 25. Win Loss Analysis  Highest Value Research for Expended Effort  Most Accurate Measurement of Positioning  Huge Data/Insight Mining Opportunity  Company Thinks They’re Already Doing It  Benefits Overlooked Due to Politics July 2016 ©The Business Intelligence Source
  26. 26. How It’s Ideally Done Systematic, Planned Effort Structured Interview Ideally Conducted by 3rd Party (internal or external) July 2016 ©The Business Intelligence Source
  27. 27. Win/Loss Process 6. Connect with Customers 7. Interview Customers 8. Tally Interview Results 11. Disseminate 1. Your Goals? 3. Company Culture 5. Connect with Sales 9. Analyze Findings 10. Make Recommendations 12. Make Changes 2. Which Accounts? 4. Create Questions July 2016 ©The Business Intelligence Source
  28. 28. Win Rate is 60% vs Competitor “A” Last Year Us Competitor A Pricing We average 10% higher Features 3.5 4.5 Delivery 5 4 Positioning 4.5 4 Product Depth 4 4 Customer Service 4 4.5 5 = Best Quantitative July 2016 ©The Business Intelligence Source
  29. 29. Qualitative • Bad customer references • Sales too pushy • Didn’t understand biz • Features • Price • Kid not confident • Tech support upsells • Not integrated • Low company confidence • No white papers • Great customer Service • Sales professionalism • Sales positioning • Team integration • Works as promised • Specific features – System stability – Easy system interface • Price, not as often WeaknessesStrengths July 2016 ©The Business Intelligence Source
  30. 30. Win/Loss Analysis How to Capture and Keep the Business You Want Published: July 2016 • Win/Loss Analysis book Amazon page • Interested in Win/Loss Analysis Training? • Want help developing a Win/Loss Program? • Contact The Business Intelligence Source
  31. 31. Steps to Form a CI Process 1. Identify primary users 2. Focus on critical users’ needs 3. Fashion products to meet users’ needs 4. Be mindful of the company culture 5. Identify & build on infrastructure that supports CI 6. Organize & expand your people network constantly 7. Promote communication 8. Don’t implement automation before people 9. Checkpoint performance always 10. Stay focused July 2016 ©The Business Intelligence Source
  32. 32. Competitive Intelligence Books • Competitive Intelligence: How to Gather, Analyze, and Use Information to Move Your Business to the Top by Larry Kahaner • Competitive Intelligence Advantage by Seena Sharp • Starting a Competitive Intelligence Function by SCIP edited by Bonnie Hohhof and Ken Sawka • Analysis without Paralysis: 12 Tools to Make Better Strategic Decisions, 2nd Edition by Craig Fleisher and Babette Bensoussan • Business and Competitive Analysis: Effective Application of New and Classic Methods, 2nd Edition by Craig Fleisher and Babette Bensoussan • Win/Loss Reviews: A New Knowledge Model for Competitive Intelligence by Rick Marcet • Win/Loss Analysis: How to Capture and Keep the Business You Want by Ellen Naylor -----Free 200+ marketing/competitive intelligence books-----
  33. 33. Thank You! Ellen Naylor: +1.720.480.9499 Contact Ellen Naylor