Do You Have the Right Intelligence?
Smart businesses recognise the importance of acting on the right intelligence at the right time and take steps to acquire real time market insights, that can’t be sourced from a study, data, the web or a financial report. Whether seeking early warning signs, exploring new ventures, pursuing an acquirer or investor or simply deciding which bids to back, the ‘right intelligence’ addresses risk, strengthens opportunity and informs decisions.
Below we highlight some key areas where the right insights can make all the difference …
Out Manoeuvre Competitors?
Is your competitor knowledge incisive and does it create advantage? Consider which of your customers they are targeting and how? Which of their big ideas and initiatives will affect market share? What strategic issues are the leadership team grappling with? Who are ‘their biggest’ customers and why? Who owns the relationship, and how do you compel them to move?
What Does Technology Innovation Mean to Customers?
Technology has changed everything, particularly buying and selling. Many organisations however still think of tech in terms of product development and innovation. Consider if you are exploiting technology to make sales efforts insightful? How it’s affecting your customers world? Will innovation create opportunity or risk for your customers, both are an axis to engage and add value, how can you help them?
Take A Winning Position in New Markets?
A market study or financial report will not give you the real time insights you need on new markets. Consider which customers are actively shopping in your target market? What innovation or value do they need? What aspect of your product will be a USP? What specifiers, channel partners and influencers should you connect with? What value can you offer to develop joint ventures?
Increase the Certainty of New Ventures
The UK market offers attractive potential, but its highly competitive. Understanding local dynamics and creating presence at the right time is essential. Consider whether you have the insights and connections to build credibility and mitigate risks. What new competitor innovations will affect customers decisions and market forces for new entrants? How are you qualifying key prospects? Where are the key people you will need to hire and when?
Are You Creating an Advantage?
Collecting insights is one thing, acting on them is another. Many businesses overlook insights through their wider network and seek intelligence after the ‘event’ and then do little with it.
How are you gaining insights that your competitors don’t have? Are sources impartial and representative? Is what you’re learning informing strategy, tactics, M&A and business development? Do you really know why you are losing or gaining share, are insights informing differentiation?
If you would like to know more about how a GTXM program can provide the deep intelligence required to defend your brand and break new markets give us a call on 0330 133 0102 to arrange a free discovery session.