Market Intelligence - Affordable Tricks And Tools For Learning Markets

  • Published on
    16-May-2015

  • View
    1.135

  • Download
    0

Embed Size (px)

DESCRIPTION

A quick presentation on 20 Tips, Tricks and Tools that you can use to better understanding your existing markets or to learn new ones. Designed for small businesses and start-up companies, this presentation includes tools that can be implemented today by businesses of all sizes for little or no money. Audience: Entrepreneurs, Product Managers, Product Marketers, Market Researchers, Market Analysts, Corporate Librarians Custom presentations also available.

Transcript

<ul><li><p> Affordable Tricks and Tools for Learning Markets</p><p>Market Intelligence</p><p>Steve Thomsonwww.thomsonconsulting.ca</p><p>Rob Duncanwww.greatcapes.com</p></li><li><p>3The Benefits of Increased Transparency</p><p>Markets</p><p>Better position your company and products</p><p>Competitors</p><p>React faster</p><p>Outflank competitors</p><p>Key Accounts</p><p>Deliver more appropriate </p><p>products</p><p>Triage accounts for better resource </p><p>management</p></li><li><p>4Tip#1 Dont Horde, Share!</p><p>Share Your Intelligence</p><p> Information needs to be available to be actioned</p></li><li><p>5Tip#2 Scope It!</p><p>Focus your data collection</p><p> Define Actionable Requirements</p><p> Avoid Analysis Paralysis</p><p> Need to Have vs. Nice to Have</p></li><li><p>6Tip#3 SWAG</p><p>Scientific Wild-Ass Guess</p><p> Ask yourself If Im 10%, 20% or 50% out, does it change my recommendation?</p><p>Dont Waste Time Trying to Get Too Accurate</p><p> Try to get to the same estimate from 2 or 3 directions. </p><p>Triangulate Your Results</p></li><li><p>7Tip#4 Remember the Five Ws</p><p>Who</p><p>What</p><p>WhereWhen</p><p>How</p><p>Why</p></li><li><p>8Tip#5 Know Thyself First</p><p> Where can you find information on your company? directories, associations, conferences, partner </p><p>sites</p><p>Information Sources</p><p> Where have your people come from? competitors, clients, suppliers, academia</p><p>Internal Resources</p><p> Understand your own metrics so you can benchmark others. business model, delivery channels, key ratios</p><p>Performance</p></li><li><p>9Tip#6 Youre Not the Only Company </p><p>in Your Market</p><p>Search Out Industry Resources</p><p> Industry associations</p><p> Conferences</p><p> Standards bodies</p><p> Market analysts and consultants</p></li><li><p>Tip#7 Understand Your Industry </p><p>Value Chain/Ecosystem</p><p>Telcos Retailers Consumers</p><p>You</p><p>TechnologyPartners</p><p>Distributors</p><p>Integration Partners</p><p>Standards Bodies/ </p><p>Regulators</p><p>Legacy System </p><p>Suppliers</p><p>StandardsBodies</p><p>DeviceManufacturer</p><p>Operating Systems</p><p>EnterpriseSoftware</p><p>HandsetSoftware</p><p>System Integrators</p><p>Value Chain Ecosystem</p></li><li><p>11</p><p>Tip#8 Create a Key Account Profile</p><p>for Key Prospects</p><p>Make it Easy to Share/Update Information</p><p>Corporate Description</p><p> Profile Contact info Pain</p><p>Technology Profile</p><p> Legacy systems Integration </p><p>partners</p><p>Competitive Profile</p><p> Who What Why How</p></li><li><p>12</p><p>Tip#9 Create Organization Charts</p><p>for Key Prospects</p><p>Fred, CEO</p><p>(Decision Maker)</p><p>VP, Line of Business</p><p>Joe</p><p>(Recommender)</p><p>CIO</p><p>Al(IT Influencer)</p><p>CFO</p><p>Bob</p><p>(ROI Influencer)</p><p> Understand who you need to talk to and their </p><p>motivations</p></li><li><p>13</p><p>Tip#10 Love Your Library </p><p> University and Public</p><p> UBC, SFU, BCIT, Vancouver Public Library</p><p>Usually Provide Free Access to Premium Information Sources</p><p>i.e., Hoovers, Factiva, online trade journals</p><p> VPL InfoAction</p><p>Sometimes Provide Fee-for-Service Research Services</p></li><li><p>14</p><p>Tip#11 Talk to People</p><p>Often 80% of the Information You Seek Is Close to You</p><p>Your Company</p><p>Management Sales Team</p><p>Partners Suppliers</p><p>Customers Investors</p></li><li><p>15</p><p>Tip#12 Google Is Your Friend</p><p>But Not Your Only Friend</p><p>Learn Advanced Search Techniques</p><p> Use at least 3 words</p><p> Go beyond the first results page</p><p> Try phone numbers, email addresses and given names</p><p>Try Other Search Engines and Tools</p><p> Yahoo, Zoominfo, LinkedIn, Jigsaw, Facebook</p></li><li><p>16</p><p>Tip#13-1: Favourite Tools</p><p>www.zoominfo.com</p><p>Aggregates </p><p>information </p><p>on people </p><p>and </p><p>companies </p><p>(on Internet)</p><p>Export </p><p>contact and </p><p>profile </p><p>information</p></li><li><p>17</p><p>Tip#13-2: Favourite Tools</p><p>www.linkedin.com</p><p>Leverage your </p><p>network</p><p>Ask questions </p><p>of experts</p><p>Find hidden </p><p>resources</p><p>Better </p><p>understand </p><p>your prospects</p><p>The bigger your network, the more effective this tool becomes</p></li><li><p>18</p><p>Tip#13-3: Favourite Tools</p><p>www.jigsaw.com</p><p>Business card </p><p>exchange</p><p>Find direct </p><p>contacts and </p><p>avoid the </p><p>gatekeepers</p><p>Use to update </p><p>your CRM files</p></li><li><p>19</p><p>Tip#13-4: Favourite Tools</p><p>www.archive.org</p><p>Understand </p><p>where your </p><p>client/competitor </p><p>has come from</p><p>Compare </p><p>historical </p><p>snapshots to </p><p>establish trending</p><p>Watch market </p><p>positioning, </p><p>language, </p><p>products, staff </p><p>turnover</p></li><li><p>20</p><p>Tip#13-5: Favourite Tools</p><p>www.watchthatpage.com</p><p>Track Changes on </p><p>Target Pages</p><p>Watch changes </p><p>in company </p><p>news,market</p><p>positioning, </p><p>language, </p><p>products, staff </p><p>turnover</p></li><li><p>21</p><p>Tip#13-6: Favourite Tools</p><p>www.monster.com</p><p>Set up alert </p><p>emails to </p><p>monitor job </p><p>postings in your </p><p>industry</p></li><li><p>22</p><p>Tip#13-7: Favourite Tools</p><p>www.freepatentsonline.com</p><p>Search your </p><p>industry for </p><p>recent patent </p><p>filings</p><p>Understand the </p><p>people behind </p><p>the technologies </p><p>for strategic </p><p>recruiting</p></li><li><p>23</p><p>Tip#14 Think Big Fish, Small Pond</p><p> Local newspapersTrade journalsAssociations to which they belong</p><p>Look for Information in Places Where Your Target Is </p><p>a Big Fish</p></li><li><p>24</p><p>Tip#15 Follow the Money</p><p>Where $ Changes Hands, So Does Information</p><p>M&amp;A and Financing </p><p>Events</p><p>Hirings and Layoffs</p><p>Large Purchases</p><p> Customerpurchase orders</p><p> Real estate</p><p>PatentAssignments</p></li><li><p>25</p><p>Tip#16 Enjoy Public Filings</p><p>Rich source of information</p><p> Management discussion and analysis</p><p> Key announcements</p><p> Key metrics</p><p>View over time to provide a sense of direction</p></li><li><p>26</p><p>Tip#17 Change Is Good</p><p> New management team or board members New partners and clientsPeople</p><p> New language New products and product directionsPositioning</p><p> M&amp;A events, new plants and offices Corporate realignmentsStructure</p><p> Gross margins, EBITDA, key ratios FundingFinancials</p><p>Always look for changes; they suggest something is in play</p></li><li><p>27</p><p>Tip#18 Watch Trademarks </p><p>and Patents</p><p>Great Source for Early Warning</p><p>Often outline intent long before it becomes reality</p></li><li><p>28</p><p>Tip#19 Share with Others </p><p>in a Similar Boat</p><p>Talk to Others Working with the Same Clients (not direct competitors)</p><p>How long do sales take?</p><p>What is the process?</p><p>Who are the gatekeepers and decision makers?</p></li><li><p>29</p><p>Tip#20 Develop a CI Matrix</p><p>Factor </p><p>1</p><p>Factor </p><p>2</p><p>Factor </p><p>3</p><p>Factor </p><p>4</p><p>Factor </p><p>5</p><p>Threat </p><p>Assessment</p><p>Counter-</p><p>attack </p><p>Strategy</p><p>Our Company N/A N/A</p><p>Competitor A</p><p>Competitor B</p><p>Competitor C</p></li><li><p>30</p><p>Tip#21 Learn Porters Five Forces</p><p>Thre</p><p>at of </p><p>New</p><p> Ent</p><p>rant</p><p>s</p><p>Bargaining Power of Customers</p><p>Sub</p><p>stitute </p><p>Pro</p><p>ducts o</p><p>r Service</p><p>s</p><p>Bargaining Power of Suppliers</p><p>Jockeying For Position </p><p>Among Competitors</p></li><li><p>31</p><p>Tip#22 When in Doubt, </p><p>Hire a Professional</p><p>Manage your resources wisely</p><p>Some work is better done by external experts</p><p>Dont Be Shy</p></li><li><p>32</p><p>For More Information</p><p>Steve Thomson</p><p> 778-371-8963</p><p> steve@thomsonconsulting.ca</p><p>Rob Duncan</p><p> 604-431-4956</p><p> Robert_Duncan@bcit.ca </p></li></ul>