Competitive Intelligence

Capture Precious Competitor & Market Intelligence through Elicitation: Webinar April 8, 2009

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When interviewing people, they might wonder why you are asking certain questions, and over time they might even become a little suspicious of your motives. A skilled elicitor will entice the other person to talk and share information almost without the other person realizing that they’re sharing. A key to successful elicitation, aside from practice, is to prepare how you would like the conversation to flow, and be prepared to answer questions the customer might ask you.

Opportunity Analysis in Tough Economic Times

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The tough economic times are a great time to conduct an opportunity analysis. Study what your customers are going through and how they’re being impacted. This might be the perfect time to introduce a disruptive technology, especially if it saves the customer money or is easier to install and maintain than the “old” technology. It could be that there are more services you can offer your customers today since they’ve reduced their staff in areas where you are very qualified to step in.

Persuading through Competitive Intelligence Tools: the Cooperative Angle

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People like stories and can be very persuasive, and I notice stories also make it easy to avoid ego conflicts. In this case study, we used customer’s decision-making criteria rather than our opinions, to persuasively communicate our analysis. However, don’t be so persuasive that you forget about the dignity of the people you are addressing. Tell a good story that leads them to your conclusions, as though your audience had thought them up themselves. This works with everyone I have ever addressed regardless of profession or culture.

Using Tactical Competitive Intelligence to Make a Strategic Decision: A Case Study

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This post continues my story from the BCG Matrix Share discussion where we set the stage for an acquisition with a share of market visual. However, share of market by itself was not compelling enough for management. We created a company comparison based on 7 key customer buying criteria, and decided it would be more credible if we represented the comparisons from a customer’s point of view, casting aside our blind spots and biases.

2014 Update: Books on Analytic Tools for Competitive Intelligence

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This is an update of books on competitive intelligence tools and techniques from a 2009 blog. Analysis Without Paralysis was updated in 2012 and now includes 12 techniques, 2 more than the first edition in 2006. Mercyhurst University students and staff published The Analyst’s Cookbook, Volume 2, available only in Kindle format.

Visualize Your Competitors on a Radar Screen Competitor Map, a Great Competitive Intelligence Tool

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The Radar Screen is one of my favorite competitive intelligence tools. It is totally visual, and fits on one page for easy digestion. It can be used both strategically and tactically, and is a rich communication tool. Read about it in Adrian Slywotsky’s Value Migration. It’s a great way to visualize how competitors are positioned relative to you and each other. The uses for the Radar Screen competitor map are as rich as your imagination. The screen can be divided into 4 quadrants which might depict competitors by 4 separate business units, 4 different geographies, and on a tactical level 4 different reasons why customers buy.

Capture Competitive Intelligence from Sales: Switching Cost Analysis

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One tool that been very popular with Sales forces over the years is “Switching Cost Analysis.” The goal is to help retain your customers! Identify all the hidden costs of the competitor’s solution which might make it more expensive for the customer to switch. Find enough omitted costs and the customer might wonder what else the competitor is not telling them!

Take a Cooperative Approach to Conflict Resolution

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I like the cooperative approach shared in Hot Buttons to solve conflicts with colleagues as it’s objective, focuses on constructive communication, and not “who dunnit? While cooperative intelligence skills of leadership, connection and communication don’t guarantee job security, they will help you stand out since many people have lower emotional intelligence: that is they have weak people skills.

Presenting at SCIP’s 2009 Annual Conference, April 22 – 25, Chicago, IL

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I just finished creating two presentations for SCIP’s (Society of Competitive Intelligence Professionals) Annual Conference in Chicago from April 22 – 25. The first talk is “Build a Sustainable Early Warning Process through Cooperative Connection” and the second is “Capture Competitive Intelligence from Sales and Customers for Lucrative Product Development.” I hope to see you at SCIP’s annual conference! Feel free to post any questions on this blog post and I’ll find answers for you.

© 2024 Ellen Naylor