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Show All (51)
Blog (48)
News (2)
Preparing for the Next Normal
It's More Than Engagement: CX Leadership Is Earned--Part-4-of-How-Marketing-Creates-Great-Customer-Experience
The Shift to Social Selling
It's More Than The Deal: It's About Trust - Part 3 of How Marketing Creates Great Customer Experience
Is the Value of Your Marketing Both Transactional & Longitudinal? - Part 2 of How Marketing Creates Great Customer Experience
How Marketing Creates Great Customer Experience: Part 1 - It is More than Marketing As Usual
Using Sound to Rise Above the Noise: How Dell, Siemens, IBM, and ACVB are Using Sound and Music to Reinforce Brand Identity
Ditch the Newspaper Approach to Content Marketing, Try the Blockbuster Philosophy Instead
6 Strategies To Revitalize Your B2B Email Marketing
Fundamentals of Data: What CMOs Need to Know to Succeed in a Digital Age
Applying Tech Innovations To Enhance Customer Satisfaction -- Part 3 of Personalizing Your Relationships With Your Customers
Meet Your New MOM (Marketing Operating Model)
Leveraging Content Marketing To Engage Customers - Part 2 of Personalizing Your Relationships With Your Customers
Six Ways Marketers Are Beating Disruptions With Technology
Personalizing Your Relationship With Your Customers, Part 1 - Leveraging Your Big Data Analytics
Marketing That Matters
Are You Considered A Progressive Leader Within Your Organization?
How Virtual Reality Will Change B2B Marketing
Who’s The Real Hero? You Or Your Customer?
Who's Ready To Lead Change In Marketing?
Millennials As B2B Buyers
Conducting A Marcom Audit: See Yourself As You Are - Part 2 of 2 Get Under the Hood and Tune Up Your Brand
What Will Determine Your Company's Ability To Execute Strategy In 2017?
Get Under the Hood and Tune Up Your Brand - Part 1 of 2
UX - What Makes A Great B2B Website? Part 4 of 4
Opportunities are Knocking: Key Tips to Ensure PPC Strategy Success - Finding Critical Gaps in Your Paid Search Part 2 of 2
How do you know your products are successful? Measure what matters.
Finding The Critical Gaps In Your Paid Search Advertising Strategy Part 1 of 2
Content: The Real SEO - What Makes A Great B2B Website? Part 3 of 4
News: SoCal BMA Unveils New Look and UX to Career Center
Brand: The Visual Story - What Makes A Great B2B Website? Part 2 of 4
The 3 Pitfalls of Production Positioning
What Makes A Great B2B Website? Part 1 of 4
5 Best Places to Research Marketing Automation Solutions for SMBs
Competitive Intelligence 3: It's not just about understanding your competitors, it’s about deriving actionable insights
RECAP: ''Refresh'' Summer Mixer Series
Competitive Intelligence 2: Your mission should you accept it Mr. Hunt is to...
Segmentation: An offline marketing concept emerging naturally in an online marketing world
Competitive Intelligence 1: Do you need James Bond?
BMA SmartBrief - Daily News for B2B Marketers - Subscribe
The role market dynamics play in developing your brand strategy
10 Reasons to Implement a Marketing Asset Management Solution
Creating Purpose-Drivent Brands
Relevance Is The New Black
Data Use in Branding
Developing a Conversation Marketing Strategy
Marketers Must Become Proactive Stewards of their Company Assets
5 Tips for Surviving and Thriving in this New Marketing Era
End-to-End Marketing Part 3: Creative examples, good and bad
End-to-End Marketing Part 2: Marrying creativity with technology
End-to-End Marketing Part 1: The death of creativity?

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Competitive Intelligence Part 3 of 3

It's not just about understanding your competitors, it’s about deriving actionable insights

Angelo Ponzi - Strategic Market Intelligence

Image - Data Analysis

As I mentioned in parts one and two of this series on Competitive Intelligence, not only do you need to establish the process and data collection methodologies upfront, you also need to understand the approach to analyzing the information you’ve collected.  Doing this upfront helps you know what type of information you need to answer a specific question.  So, by the time you get there, you should have some clarity on direction.

In my opinion, the analysis phase of your CI plan is the most critical, yet one that is often not performed well.  You’ve invested hours of time and resources into collecting information, yet don’t spend the time performing an in-depth analysis of what you’ve collected.

Remember, if you’re using free or subscription resources for your data collection methodology, you may not have a specific answers to your questions.  This is typically accomplished by implementing a proprietary quantitative or qualitative competitive research study.

Regardless of your data resources, a deeper analytical review can reveal a better understanding of the key drivers behind the market, your brand and competitive performance, changes in customer attitudes and behaviors and the economic or political impact on your business. When analyzing your data, think about the issues, trends and other external factors that can have an impact on your marketing or business strategies.

As a place to start, check out Capetia's 50 Competitive Intelligence Analysis Techniques. There you’ll find a variety of tools and guidelines on how and when to use various analyses in your competitive intelligence program, such as Porter’s Five Forces, ADL Matrix and Pesonas just to name a few.

Make sure your analysis helps create actions that lead to decision making and actionable changes to your business strategies. After all, insights that do not generate actions are not insights. Above all, keep in mind that competitive intelligence is not just about competitors but about understanding the ever-changing business environment and using this knowledge to make effective business decisions.

"It is of the highest importance in the art of detection to be able to recognize, out of a number of facts, which are incidental and which vital". (Sherlock Holmes)

I welcome your comments below, and hope to seeing you October 28th for Taking Data-Driven Strategy Beyond Messaging: Bridging the gap between marketing and product development innovation.

Photo - Angelo Ponzi - Strategic Marketing Intelligence


Angelo Ponzi,
Strategic Market Intelligence

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