Enjoy three 2015 competitive intelligence books: Business and Competitive Analysis: Effective Applications of New and Classic Methods, 2nd Edition by Craig Fleisher and Babette Bensoussan; The Guide to Online Due Diligence Investigations: The Professional Approach on How to Use Traditional and Social Media Resources by Cynthia Hetherington; and Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Market the Competition Irrelevant by W. Chan Kim and Renee Mauborgne.
Companies have business blind spots, and since they’re run by people: we also have blind spots. Two common blindspots are:
Assuming that others see what you see, feel what you feel, and think what you think
Thinking you understand and remember what others say, when you really only remember what you think about what they’ve said
One way to loosen up those blind spots is to engage in dialog with other people and listen, truly listen to what they’re saying. That’s behind many a successful marriage, business relationships, effective interviewers and successful researchers.
Few marketers have a formal competitive review process in place. The extent to which they do competitive analysis typically consists of subscribing to their competitors’ email promotions and newsletters; there is little analysis of their programs. Understanding a competitor’s frequency, use of personalization, and other apparent tactics is a necessary, but often-untapped knowledge resource. Late …
This blog focuses on maximizing your ROI (return on investment) while providing competitive analysis.Competitive intelligence is a support role. You need to shelf your ego. I learned that I portrayed a cooperative attitude aka &quot;cooperative intelligence”, which opened up the floodgates of sharing from Sales in particular. I was fortunate in that I came from field Sales, so I knew I could improve our company’s ROI by helping Sales win more deals. I could connect individuals who were combating the same competitor, and let them strategize together, then share their success story.
This is the first in a series about how I evolved in my career in competitive intelligence, and what I have learned over time. Overall I am glad I had a start back in 1985 for the critical thinking and deeper relationships I developed. I am glad to still be in this field today where I can reach out to sources quickly that I would never have dreamed even existed in 1985, thanks to social networking.
How many times have you heard people say, “I am too busy. I am soooo busy.” Are most of us really busier than we used to be? Or are we imposing busyness by all the distractions of everyday 21st century life? Do people really need to know what you’re doing all the time and where you ate and what airline you’re flying? Knowing when to connect on social media is a competitive advantage for individuals and for companies. Knowing when not to connect gives you more independence.
Jenny Shank and I will speak at a publishing venue sponsored by the Denver Notre Dame women on November 5 at Good Shepherd Catholic School Cafeteria at 620 Elizabeth St Denver 80206 starting at 6 p.m. Jenny will read from her book, The Ringer and I will talk about my journey in publishing in my field, competitive intelligence.
Mary Ellen Bates delivered an excellent AIIP webinar on how to market your business more effectively using her tested and tried best practices using the telephone, snail mail and social networks. You will want to buy her book, Building and Running a Successful Research Business” for even more than the 23 tippers she shared. Free webinars are a great AIIP benefit and all webinars are taped for later listening for the membership.
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!
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.