cooperative

Use Rivalry to Spur Innovation & Competitive Intelligence Sharing

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While GE uses rivalry to stimulate innovation, I believe it can also be used to support other functions such as competitive intelligence in the case of war gaming, in particular. Another group that responds well to healthy rivalry, if you publicize their contribution, is Sales. People are naturally competitive and want to be the best, so healthy rivalry that advances your company’s goals for innovation, improved competitiveness and winning more deals—is a good thing!

Read Competitive Intelligence Advantage by Seena Sharp!

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Seena Sharp provides incredible wisdom around the practice of competitive intelligence and draws upon her wisdom from over 30 years experience. Executives like most people misunderstand CI and often focus on monitoring competitors, a subset of competitive intelligence which should include a robust external dive into all the factors which can affect your company’s success — starting with your customers. Another point Sharp emphasizes is the need to re-examine our assumptions in these changing times. To make this point she quotes Will Rogers, “it ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” Likewise, when examining competitors, consider “what they know that you don’t” to uncover new markets, applications and customer niches.

Boost Competitive Intelligence Effectiveness through Databases

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I look to build 2 databases to support competitive intelligence: one which is a repository of data/reports/analysis and another which is a contact database of experts and users of competitive intelligence both inside and outside your company. The repository is useful for monitoring, as a source for quick retrieval of data for projects, and can facilitate self-service of existing information and analysis for competitive intelligence clients. The contact database is most precious especially if sortable by expertise, topical interest and whatever way it makes it easy for you to find the right person, whether a user or resource for your competitive intelligence needs.

Use Trade Shows as Fact-Finding Missions

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Trade shows are a Mecca for competitive intelligence. Nowhere are there more people who want to share their knowledge and insight with you: industry experts, prospects, competitors, other industry participants such as suppliers and distributors and journalists. This is cooperative intelligence at its finest since everyone is marketing to you whether at formal presentations, exhibitor booths or even informal places like the conference bar or hotel café.

Connect Cooperatively to Internal & External Experts

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Use a cooperative connection approach with internal and external experts regardless of how you reach them. A good way to think about who to connect with internally is: who is dealing with my competitors, customers, the investor community, suppliers, distributors, regulators or attends trade shows? Externally, you need to consider who tracks the marketplace you compete in, in all its aspects: technology, innovation, the environment, economic conditions, politics/lobbyists, regulatory, social issues and the competition.

Capture Win Loss Analysis Cooperatively

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Last week, I shared a summary of “5 Tactics to Research Your Marketplace using Competitive Intelligence Skills” originally published by Adam Sutton of MarketingSherpa. As promised, I am focusing on the first one, Conduct win loss analysis. Win loss interviews and the ensuing analysis are one of my favorite cooperative intelligence tools, since it’s a win/win. Your company receives valuable information from your customers and prospects, and you make them feel important since you care enough to query them and give them an opportunity to provide honest, candid feedback on what they like and don’t like about you, and what they like about the competition, for example.

Assess Your Effectiveness at Trade Shows

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In honor of my competitive intelligence colleague, Jonathan Calof, 2010 SCIP Fellow winner, I am writing this post on his subject of expertise, trade shows! Trade shows are one of the best venues for cooperative intelligence practices since if you display cooperative connection and communication skills, the floodgates of knowledge will be yours!

Improve Your Cold Calling

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Most of my experience with cold calling is following my intuition. However, in the spirit of cooperative intelligence I will share some of the practices that I have developed over the years as a researcher. Like anything else, practice makes you a lot better. I am always thinking about ways to empathize and be more sensitive to the other person and am most effective when I forget about myself while keeping an eye on the clock to respect their time.

How well do you Emotionally Connect?

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The devil is in the details: do you know your audience or clients well enough to know how to connect with them emotionally when you communicate? This is often a weakness in competitive intelligence professionals as we are far too hung up with our world of competitive analysis lingo and perspective. Whether it’s a speech, a project or a simple e-mail communication, you have the opportunity to emotionally connect through cooperative communication if you truly empathize with your customer’s position and care to take note of how they learn and how they like to be communicated with.

Purposeful Cooperative Leadership in Competitive Intelligence

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In competitive intelligence and research, many of us don’t have any reporting people and report into another functional area of the company. Thus cooperative and purposeful leadership skills are all the more crucial when you rely on other people to give you great information or intelligence who don’t report to you, and your boss perhaps views you as an outlier since competitive intelligence doesn’t quite fit into anyone’s area. My most purposeful leadership was with Sales while I was at Verizon. I knew I needed to be cooperative in order to gain sales intelligence and customer’s input to be successful in competitive intelligence.

© 2024 Ellen Naylor