Competitive intelligence is sometimes referred to as a game of chess, with each side trying to think as far ahead as possible about their opponents’ moves and countermoves. Sun Tzu is frequently invoked as a model for competitive intelligence students when observing, learning from, and out-maneuvering a competitive nemesis. Similarly, armies and generals are typically revered by those in the competitive intelligence community, their battle plans, flanking techniques, and other maneuvers analyzed and copied.
But what happens when the market you’re studying is moving quickly, with competitors frequently entering and exiting the playing field? Perhaps you’re not even sure if a firm is a competitor — could they also be considered a partner? Or at least part of a loose affiliation that could be helpful to your firm in the future?
Understanding B2B Competitive Intelligence
Understanding competitors is challenging, even in the most stable of industries. When trying to understand competitive dynamics in fluid markets, the task becomes even more difficult, especially if your firm has allocated only limited funds for competitive intelligence capture, analysis, reporting, and dissemination.
As many practicing intelligence practitioners know, understanding competitors takes a lifetime of mastery. This is especially true in industries where there’s significant ambiguity, change, and upheaval. By considering the competitive landscape from different angles and viewpoints, competitive intelligence teams can better understand current and emerging players, ensuring they retain existing customers, win new accounts, and remain relevant for the long term.
Get the best practices for winning against competitors in disruptive, quickly-changing industries.
Nine Best Practices for Nailing Competitive Intelligence in Dynamic Markets
In the Nine Best Practices for Nailing Competitive Intelligence in Dynamic Markets eBook, you’ll get strategies for:
- Taking a look at your competitors and what they offer and how that compares to your offer.
- Having a systematic way to get competitive intelligence directly.
- Getting deeper insights into why that competitor excelled, what they offered, and what their value proposition was.
- Knowing what competitors will actually do in the sales deal so that you can prepare accordingly.
- Including the right things in your competitive battle cards.