Market Intelligence

• Affordable Tricks and Tools

for Learning Markets

Steve Thomson Rob Duncan

www.thomsonconsulting.ca www.greatcapes.com
 The Benefits of Increased Transparency
3

Markets Competitors Key

Accounts

Better position Deliver more

your company React faster appropriate
and products products

Triage accounts
Outflank for better
competitors resource
management
 Tip#1 – Don‟t Horde, Share!
4

Share Your Intelligence

•Information needs to be
available to be actioned
 Tip#2 – Scope It!
5

Focus your data collection

• Define „Actionable‟ Requirements
• Avoid Analysis Paralysis
• Need to Have vs. Nice to Have
 Tip#3 – SWAG
6
Scientific Wild-Ass Guess
Don‟t Waste Time Trying to Get
Too Accurate
• Ask yourself – “If I‟m 10%, 20% or
50% out, does it change my
recommendation?”

Triangulate Your Results

• Try to get to the same estimate from

2 or 3 directions.
 Tip#4 – Remember the Five Ws
7

Who

How What
Why

When Where
 Tip#5 – Know Thyself First
8

• Where can you find information

Information on your company?
Sources • directories, associations, conferences, partner
sites

Internal • Where have your people come

from?
Resources • competitors, clients, suppliers, academia

• Understand your own metrics so

Performance you can benchmark others.
• business model, delivery channels, key ratios
 Tip#6 – You‟re Not the Only Company
9
in Your Market

Search Out Industry Resources

• Industry associations
• Conferences
• Standards bodies
• Market analysts and
consultants
Tip#7 – Understand Your Industry
Value Chain/Ecosystem
Value Chain Ecosystem
Standards Device Operating
Bodies Manufacturer Systems
Technology
Partners

Enterprise Legacy
Software System Distributors
System Suppliers
Handset
Software
Integrators
You
Standards Integration
Bodies/ Partners
Regulators
Telcos Retailers Consumers
 Tip#8 – Create a Key Account Profile
for Key Prospects
11

Make it Easy to Share/Update

Information
Corporate Technology Competitive
Description Profile Profile
• Profile • Legacy systems • Who
• Contact info • Integration • What
• “Pain” partners • Why
• How
 Tip#9 – Create Organization Charts
12
for Key Prospects
• Understand who you need to talk to and their
motivations
Fred, CEO
(Decision
Maker)

VP, Line of CIO CFO

Business

Joe Al Bob
(Recommender) (IT Influencer) (ROI Influencer)
 Tip#10 – Love Your Library
– University and Public
13

Usually Provide Free Access to

Premium Information Sources
i.e., Hoover‟s, Factiva, online trade journals
• UBC, SFU, BCIT, Vancouver Public Library

Sometimes Provide Fee-for-Service

Research Services
• VPL InfoAction
 Tip#11 – Talk to People
14

Often 80% of the Information You

Seek Is Close to You

Your Company Partners Suppliers

Management Sales Team Customers Investors

 Tip#12 – Google Is Your Friend…
15
But Not Your Only Friend

Learn Advanced Search Techniques

• Use at least 3 words
• Go beyond the first results page
• Try phone numbers, email addresses and
given names
Try Other Search Engines and Tools
• Yahoo, Zoominfo, LinkedIn, Jigsaw, Facebook
 Tip#13-1: Favourite Tools
www.zoominfo.com
16

Aggregates
information
on people
and
companies
(on Internet)

Export
contact and
profile
information
 Tip#13-2: Favourite Tools
www.linkedin.com
17

Leverage your
network

Ask questions
of “experts”

Find “hidden”
resources

Better
understand
your prospects

The bigger your network, the more effective this tool becomes
 Tip#13-3: Favourite Tools
www.jigsaw.com
18

Business card
exchange

Find direct
contacts and
avoid the
gatekeepers

Use to update
your CRM files
 Tip#13-4: Favourite Tools
www.archive.org
19

Understand
where your
client/competitor
has come from

Compare
historical
snapshots to
establish trending

Watch market
positioning,
language,
products, staff
turnover
 Tip#13-5: Favourite Tools
www.watchthatpage.com
20

Track Changes on
Target Pages

Watch changes
in company
news,market
positioning,
language,
products, staff
turnover
 Tip#13-6: Favourite Tools
www.monster.com
21

Set up alert
emails to
monitor job
postings in your
industry
 Tip#13-7: Favourite Tools
www.freepatentsonline.com
22

Search your
industry for
recent patent
filings

Understand the
people behind
the technologies
for strategic
recruiting
 Tip#14 – Think Big Fish, Small Pond
23

Look for • Local newspapers

Information in
Places Where
• Trade journals
Your Target Is • Associations to
a Big Fish
which they belong
 Tip#15 – Follow the Money
24

Where $ Changes Hands, So Does

Information

Large
M&A and Hirings and Purchases Patent
Financing Layoffs • Customer Assignments
Events purchase
orders
• Real estate
 Tip#16 – Enjoy Public Filings
25

Rich source of information

• Management discussion and analysis
• Key announcements
• Key metrics

View over time to provide a sense of direction

 Tip#17 – Change Is Good
26

Always look for changes; they suggest something is in play

People • New management team or board members

• New partners and clients

Positioning • New language

• New products and product directions

Structure • M&A events, new plants and offices

• Corporate realignments

Financials • Gross margins, EBITDA, key ratios

• Funding
 Tip#18 – Watch Trademarks
27
and Patents

Great Source for

Early Warning
•Often outline intent long
before it becomes reality
 Tip#19 – Share with Others
28
in a Similar Boat

Talk to Others Working with the

Same Clients (not direct competitors)
• How long do sales take?
• What is the process?
• Who are the gatekeepers
and decision makers?
 Tip#20 – Develop a CI Matrix
29

Counter-
Factor Factor Factor Factor Factor Threat
attack
1 2 3 4 5 Assessment
Strategy

Our Company N/A N/A

Competitor A

Competitor B

Competitor C
 Tip#21 – Learn Porter‟s Five Forces
30

New Entrants
Threat of
Bargaining Bargaining
Power of Jockeying For Position Power of
Suppliers Among Competitors Customers
Products or
Substitute
Services
 Tip#22 – When in Doubt,
31
Hire a Professional

• Manage your
Don‟t resources wisely
Be • Some work is
Shy better done by
external experts
 For More Information
32

Steve Thomson
• 778-371-8963
• steve@thomsonconsulting.ca

Rob Duncan
• 604-431-4956
• Robert_Duncan@bcit.ca