A big part of my job at Zoom has to build out a formal competitive intelligence program. I had done competitive work before, but this was my first time building a whole program from scratch. As I usually do, I consulted a few experts. Here are the three experts I spoke to that shared some great ideas that I was able to implement into my program.
Ken Porter Director Competitive Intelligence at Adaptive Insights
Jason Smith CEO of Klue
Peter Mertens Product Marketing at Sprout Social
Below are a few tips for anyone else getting a program off the ground that I picked up for the people mentioned above and through my own experience.
1. Have a one stop shop. This could be a wiki or google site, really does not matter, but what matters is consistency. Your company needs to know where to find the latest competitive information. I built a simple google site for our team at Zoom. This saves me a ton of time. Everything I create is on the wiki and everyone knows to look there first before asking me a competitive question.
2. Select your main competitors. Even if your industry is not large or competitive, it helps to focus in on the main competitors. In our industry there are literally 100's of different competitors, but only a handful really matter. It'll be hard to do a good job if you don't focus. Select main competitors you'll be up to speed on and let the team know that they'll be on their own for the rest. As you get more time and resources you can always expand your list, but it will be hard to build a good program if you're stretched to thin from the start.
3. No competitor bashing or feature wars. While a Product Marketer likely won't do this, assets you create can be used to do both. It's important that there is a training/sales enablement element to help the sales team deal with competitors. Otherwise, especially for new reps, it's too easy to go down those paths which will not help your company sell more.
4. Automate how you stay on top of your competitors. As much as possible, try to make sure relevant information gets pushed to you about your competitors. Here is a list of my favorite methods.
Google news alerts
Page monitor chrome extension
Klue
Feedly
Wayback machine
5. Other tools that help. Here is another list or tools/products that can help you with your competitive efforts.
Glassdoor- When checking out the glassdoor of your competitors you might find some nuggets of good intel or at least some FUD.
3rd Party Review Sites- Sites like G2crowd, TrustRadius and Gartner Peer Insights provide a ton of information on the strengths and weaknesses of your competitors. New reviews are posted all the time.
PointDrives- If you have LinkedIn Sales Navigator, use PointDrives to create public facing competitive assets. It will let you know who is looking at it and sending a customization web page will help prevent it from getting into the wrong hands.
Salesforce- A few simple fields asking about which competitors were in the deal will help you do win/loss analysis and figure out where you might be able to help out your company from a competitive perspective.
6. Tap into your company. Any Product Marketer that thinks they need to know more than anyone else about every competitor is in for a real challenge, but if you leverage the expertise in your company you're much more likely to have a successful program. Find the competitive experts on your sales, support or sales engineering team and build relationships with them. A lot of people like talking shop. Find ways to highlight their expertise to the rest of the company and they'll always be eager to work with you.
This is a work in progress, but hopefully give you a few ideas on how to build a competitive intelligence program as a Product Marketer.
As a product marketeer myself i can assure you that this blog post will help all the newbies in this field. Thanks for putting so much effort.
ReplyDeleteWow, great post.
ReplyDeleteGreat blog Derek. I've been a competitive intelligence director for 10 years (at Pegasystems), and then started a win-loss consulting business. If you are interested, I've started a blog on competitive intelligence - see https://www.petronio.com/wheres-the-vision/
ReplyDeleteThanks for sharing
ReplyDeletepicsart pro apk
pics art apk for ios
pics art apk for pc
Thanks
ReplyDeletefacebook modded apk free download
snapchat mod
Download APKs of Apps and games
ReplyDeletegta sa free apk download
gta vice city apk data free download
Best Courier in the state of australia Express Courier
ReplyDeleteOttom Tech
ReplyDeleteES File Explorer APK Download
PicsArt Mod APK Android
3rd Party Review Sites- Sites like G2crowd, TrustRadius and Gartner Peer Insights provide a ton of information on the strengths and weaknesses of your competitors. New reviews are posted all the time tungsten rings usa , tungsten rings wholesale france ,
ReplyDeleteCheck the status of your package live and trace its location.Track your Parcel
ReplyDeleteGet the live updates of your parcel and trace its location live.Trace and locate
ReplyDeleteGTA Vice City APK Free Download
ReplyDeleteDownload GTA San Andreas APK latest Version
Download free Rucoy Online APK MOD
Marvel Puzzle Quest free coins is an awesome and interesting game that can be played from any part of the world. It is free to download and play and it is also fun and exciting for any player. It is one of the best games that can be played and it is also one of the most played games as well. If you are looking for a game that is fun and exciting, then you should definitely play this particular game.
ReplyDeleteYo WhatsApp Apk Download is now available for free from our website. Yo WhatsApp Apk is an awesome app that works with almost all android phones. This app is a best alternative of Whatsapp. This app allows you to chat with your friends & family by using this latest technology.
ReplyDelete8 ball pool Mod Apk is an addictive game that has taken the mobile gaming world by storm. The game allows users to make their own tables, set their own rules and play with other real players from around the world. It is a game that allows you to be creative, have fun and to beat your opponents. For more info visit us at https://fasterapk.com/8-ball-pool-mod-apk/
ReplyDeleteBuy Pressure Monitoring Line (PM-O line)-Romson
ReplyDeleteGb WhatsApp Lite is a stripped-down version of the popular messaging app with a focus on speed and battery life. It’s available on both Android and iOS devices and offers fewer features but is much faster in terms of loading messages. Gb WhatsApp Lite is perfect for people who use WhatsApp regularly but don’t want to pay for the full version.
ReplyDeleteSMS Bomber App Download is an android application that lets you send multiple text messages at once to a single contact or to a group of contacts. The app has a simple and easy-to-use interface. You just need to enter the phone numbers of the recipients and the text message, and then hit the send button. SMS Bomber Mod apk can be used to prank your friends or to send them annoying messages.
ReplyDeleteMod Apk is a software modification which alters the functionality of an android app. Modding an app can allow for features not originally available, or remove ads and in-app purchases. Mods can be created by anyone, and there are many websites which offer mods for download. While mods can be helpful, they can also pose a security risk, as they are not always vetted by the app developer. For more Info visit us at https://apkranch.com/
ReplyDeletePixaloopis a creative photo editing app that allows users to animate their photos with loops and motion effects. With Pixaloop Pro, you can easily create professional-quality animations right on your phone. The app is easy to use and has a wide variety of animation effects to choose from. Pixaloop Pro is the perfect app for animating your photos and adding some fun and creativity to your images.
ReplyDeleteYoutube Red is a subscription service for YouTube. It allows you to enjoy ad-free videos, download videos and access all of your favorite YouTube channels without any ads. The subscription is available on both Android and iOS devices. For more Info visit us at https://freezapk.com/youtube-red-apk/
ReplyDeleteNinja Heroes is a new and exciting game that is sure to entertain everyone. The game is based on the ninja theme and allows you to battle against other players online. The game is easy to play, but hard to master. It also has a great graphics and sounds that will make you feel like you're in the game. Overall, this is an awesome game that is sure to please anyone who tries it out. For more Info visit this Website
ReplyDelete8 ball pool hack apk is a very popular and well-known pool game. The mod apk lets you play the game on your Android device with added features and modifications. There are different mods available, with different changes to the game. Some mods add new characters, others change the rules or add new levels. The mod apk is a great way to get a little bit more out of your 8 ball pool game.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteYes, visit: List Of Liho Tea Outlets In Singapore
ReplyDeletethanks for sharing if you want to get more information you can visit. calcular comision paypal
ReplyDeletei have never found such an informative post thanks for sharing it check. lattitude Punjabi Status
ReplyDelete