Talking to the right people in the right way
Know your primary sources
You already have a number of excellent sources of primary information, some of whom you talk to every day.
Your employees are not only your greatest asset; they are also your greatest source of competitive information.
They may have previous experience of working with your rivals, know people in other organisations and of course have day to day dealings with your customers who are been pursued by your rivals.
Without compromising any restrictive covenants your employees may know pricing or have a copy of your rival’s sales information.
Look within your business to draw parallels among each department working on business development.
The information your business developers source during a networking event can be very valuable, but only if it is accessible in a useable format, analysed and acted on.
Yeah, but it’s just talking
Within your industry sectors, some technologies will advance while others will disappear, but if there’s one thing that will never change in competitive intelligence: the humans.
Working in the human dimension to gather primary research-based intelligence is and will always be the best
Nothing groundbreaking, but it has to be the most critical part of Competitive Intelligence.
Primary research is easily forgotten about, especially when it is more accessible to Google something or use an overpriced database to access old information.
But your human network is your best source of competitive and market intelligence as long as you have developed and nurtured it.
Start with your:
- Long-established customers and suppliers
- Experience sales reps and vendors
- Industry association meetings and trade shows