How to start a CI project
By the way feel free to download our “How to start a Competitive Intelligence project” Cheat sheet
How to do it
Starting point. How to start a CI project. Firstly, we begin with activities that enable us to gain an understanding of the situation.
Then, we Look at the information available, define your industry-specific terminology. And develop sources with an initial secondary research sweep.
And, include a mixed set of approaches to meet the objectives stated within the project.
So, we then design multiple enquiry mechanisms including telephone contact, interviews, group interactions, general surveys. And, perhaps multiple-choice questioning via digital media.
Filling knowledge gaps. We consider not having as much experience as you of your industry as an advantage. So it allows us to get away with asking deliberately daft questions. But, the fact is, we always find someone keen to fill in the gaps in our knowledge. and, we can do the same for you.
Set up monitoring and easy reporting to ensure no new information is missed.
It’s about asking the right questions
Then, its asking the big questions. Develop a more extensive investigation using primary research methods. In other words, talk to people. So this should represent around 70% of the data gathering. Primary research takes place via in-depth face-to-face, telephone interviews and questionnaires, as well as, receiving demonstrations of products/services.
Talking to relevant people. To answer the big questions, speak to industry executives, key players, customers, former employees and government agencies. And, key opinion leaders, market analysts, expert observers, competitors, as well as, other knowledgeable sources and even internal team members.
Also, attend relevant trade shows and events to get boots on the ground if required.
Digging deeper. And, we use some elicitation techniques to get interviewees to open up. And, then work with your team correlate, cross-reference, challenge and analyse the information gained in these conversations.
Traffic Analysis. See who is talking to who in your market and competitors.
Build Intelligence by accessing in-depth information from highly credible sources. And, then deal with critical issues associated with your key questions.
finally, presenting your findings.Usually, the resulting Intelligence will be delivered as a written report or presentation, but it doesn’t really matter. Just no pointless graphs for the sake of it.
The findings will include suggested actions and well thought out marketing strategies and actions
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