Large companies have managed competitive intelligence for years. However, through multiple acquisitions and/or partnerships have caused competitive intelligence to become a decentralized team. Meaning that competitive intelligence is fragmented across different organizations. It may not be prudent to centralize competitive intelligence due to the multiple markets these mega-vendors are in. For instance, Dell is now EMC which owns VMware. I can only imagine Dell has a myriad of competitive analysts in each of the different companies and even that there are probably multiple analysts in each different department like product management, product marketing, sales, etc.
So how to remedy this problem? The answer is creating a competitive intelligence committee.
Some of the key steps in organizing a high-performing competitive intelligence committee.
- Have a common mission statement that aligns to all of the different competitive intelligence teams
- Utilize a common content management platform for all CI analysts can liberally share competitive collateral. Also, make it collaborative.
- Knockdown any politic jockeying of egos. Be sure to be as one and not be seen as many. Have a win all or lose all mentality as a committee
By combining the brainchild of competitive intelligence as a body of one, competitive intelligence can increase product revenue by 3.2x.
What are you waiting for and look into become the power of one CI group.
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