Using CIA marketing strategies in your business is like using counterintelligence information to determine your next move, similar to the game of chess discussed earlier. Acquiring the information you need may feel like being a secret agent. You must learn what you can about the competition without wasting your time being obsessive about it. The basis of espionage has not changed much over the years, but the methods used have been modified. Using CIA marketing strategies is the key to a company’s success in today’s environment. You will learn from this endeavor what a competitor is doing well and not doing well and then measure that against your own company’s performance.
Have a Competitive Intelligence Plan in Place
Having a competitive intelligence plan in place helps you know what others are saying about you or your company for positioning strategy and keeps you abreast of the surrounding environment. While I am not recommending you become a spy, I am recommending knowing what the competition is doing and then doing it better!
Many businesses get trapped in the day-to-day management of their companies without an awareness of their surroundings. Remember, unexpected moves by a competitor will affect your entire marketing strategy and can even threaten overall business growth. For example, a grocery store that has done well for years, serviced customer needs, known their demographic audience, and grown at a consistent growth rate in the market share may feel comfortable with their market share. Then, because they failed to carry out their CIA, a new competitor opened across the street offering fresher fruit and lower prices. Because there was no counter plan in place, business is lost due to the new competition.
Are you familiar with competitive intelligence and how it can help your company grow? Competitive intelligence is purposeful and coordinated monitoring of the competition, wherever and whoever they may be within a specific marketplace. Competitors are those you consider to be “rivals” in business and whom you compete with for market share in your state, region, or nation. Strategically gain knowledge of your competitor’s plans and plan your business strategy to countervail their plans. This requires both tactical and creative analysis, distribution of the information, and calculation of business decisions from the information and analysis.
When gathering competitive intelligence, I recommend going about it ethically. Many companies do not necessarily practice competitive intelligence, but try to run their business marketing strategy based on lies. Competitive intelligence is based on truth and fair business practice.
DJ Heckes, CEO & Author
Full BRAIN Marketing
www.fullbrainmarketing.com
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Have a Competitive Intelligence Plan in Place
Having a competitive intelligence plan in place helps you know what others are saying about you or your company for positioning strategy and keeps you abreast of the surrounding environment. While I am not recommending you become a spy, I am recommending knowing what the competition is doing and then doing it better!
Many businesses get trapped in the day-to-day management of their companies without an awareness of their surroundings. Remember, unexpected moves by a competitor will affect your entire marketing strategy and can even threaten overall business growth. For example, a grocery store that has done well for years, serviced customer needs, known their demographic audience, and grown at a consistent growth rate in the market share may feel comfortable with their market share. Then, because they failed to carry out their CIA, a new competitor opened across the street offering fresher fruit and lower prices. Because there was no counter plan in place, business is lost due to the new competition.
Are you familiar with competitive intelligence and how it can help your company grow? Competitive intelligence is purposeful and coordinated monitoring of the competition, wherever and whoever they may be within a specific marketplace. Competitors are those you consider to be “rivals” in business and whom you compete with for market share in your state, region, or nation. Strategically gain knowledge of your competitor’s plans and plan your business strategy to countervail their plans. This requires both tactical and creative analysis, distribution of the information, and calculation of business decisions from the information and analysis.
When gathering competitive intelligence, I recommend going about it ethically. Many companies do not necessarily practice competitive intelligence, but try to run their business marketing strategy based on lies. Competitive intelligence is based on truth and fair business practice.
DJ Heckes, CEO & Author
Full BRAIN Marketing
www.fullbrainmarketing.com
Share
Bookmark this on Delicious
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