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Market intelligence best practices


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5 tips for enhancing the use of market intelligence within your company.

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Market intelligence best practices

  1. 1. Best Practices for using Market Intelligence5 tips for enhancing the use of market intelligence within your company <br />September 2011<br />
  2. 2. Tip #1 – Share your intelligence<br />Disseminate information via newsletter<br /><ul><li>Push relevant news articles to your organization via newsletter
  3. 3. Provide stakeholders with information when/where they need it, and value will be attained
  4. 4. A great way to increase your visibility and “brand” across the company</li></li></ul><li>Tip #2 – Content integration into <br />Integrate sales prospecting into CRM workflow<br /><ul><li>Provide resources to fuel effective call preparation
  5. 5. Promote prospecting with ability to create company and contact lists – all without leaving the CRM
  6. 6. Increases the utility of the CRM
  7. 7. Drastic time savings for sales teams</li></li></ul><li>Tip #3 – Develop competitor playbooks<br />Compile competitor Go-to-Market briefs<br /><ul><li>Develop a playbook with a focus on GTM activities
  8. 8. Understand what your company is looking to do from a strategy and planning perspective
  9. 9. Determine what your company wants to know about the competition, and align your analysis accordingly
  10. 10. This analysis can serve as an invaluable resource for company planning and GTM market decision-making!</li></li></ul><li>Tip #4 – Market intelligence for procurement<br />Link market data to suppliers and spend categories<br /><ul><li>There is an emergence of procurement using market intelligence to mitigate supplier risk
  11. 11. Perform supplier due diligence
  12. 12. Locate candidates for sourcing events
  13. 13. Better leverage spend across parent and child levels
  14. 14. Identify possible supplier issues using negatives news; can be fed into SPM software via RSS</li></li></ul><li>Tip #5 – Partner with your information vendor<br />Work closely with your information vendor(s)<br /><ul><li>Companies like LexisNexis dedicate entire account teams to help drive adoption of content and tools
  15. 15. Make the most of these resources!</li></li></ul><li>Resources<br />Create a newsletter that captures attention<br />Perform faster and more powerful prospecting<br />Using competitive intelligence to fuel marketing strategies<br />Achieve more efficient competitive intelligence faster than ever <br /><br />Leverage business intelligence to evaluate supply chain risk<br /><br />