Competitive Intelligence Research and urgent last-minute enquiries
Competitive Intelligence Research and urgent last-minute enquiries
The subject of this article is Competitive Intelligence Research and urgent last-minute enquiries. We occasionally get enquiries from middle managers asking for a market analysis report. These types of requests tend to follow the same pattern. Before the new company financial year. Short notice, impossible time frames and minimal budget.
A senior manager has been asked to contribute to the company’s business plan. Then realises that Market Analysis is more complicated than a quick SWOT. Frankly, we could copy an old report and change the name of the company and competitors. We know it’s likely not to be read in any great detail. Never mind being acted on.
We take the call, explain that this sort of activity needs to be strategic. Not just to fill in space in a business plan. When offered this sort of business, we find ourselves in a no-win situation. Agree to help them, and they get a few days work which is never enough to tell people what’s happening adequately. They were expecting more for their very tiny budget.
Yeah, yeah yeah…
We explain to be strategic, and we get, “Yeah yeah yeah I agree, but I really need this report. If you can do it by Wednesday we will talk about a longer term relationship after that”.
When we agree and deliver. The work is undertaken always outstrips the nominal fee gained. So we get no benefit from the job, but no fear we can expect a rosy long-term relationship with them. And once they have the report, you never hear from them again. They have another fire to put out.
But the client gets no benefit from the exercise either. So when next asked about Competitive Analysis, they dismiss the exercise as a waste of time. It’s usually never a good thing for the manager either. We typically find left the original manager has left the business six months later.
Some may outsource to overseas business researchers for a couple of hundred bucks. They think it’s a great deal. Until they see that all that has been done is three pages based on the first things they see in Google.
What is Competitive Intelligence?
Competitive intelligence is the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Competitive intelligence offers certainty, competitive advantage, insight, growth & security.
Finally
Competitive Intelligence Research and urgent last-minute enquiries
- Have you experienced a situation like this in your company?
- Do you want to win against this short-termism?
- We can help you build on facts, not appeasements!
We would love to hear from you if you recognise the value of diminishing risk and building opportunity. As you can see Octopus like to tell it how it is and the subject of this article was Competitive Intelligence Research and urgent last-minute enquiries.
