Steve Thomson, Principal Thomson & Associates Introduction to Affordable Tricks and Tools for Learning New Markets and Increasing Insight Market Intelligence

What is Market Intelligence? Business Intelligence Market Research Feeds: Strategy Tactics Operations Competitor Analysis Market Analysis

Benefits of Increased Transparency Markets Position company and products Competitors React faster Outflank competitors Key Accounts Deliver appropriate products Triage for better resource management

Share Intelligence Don’t Horde, Share! Information needs to be actioned to be valuable

Scope It! Focus your data collection Define ‘Actionable’ Requirements Avoid Analysis Paralysis Need to Have vs. Nice to Have

SWAG: Scientific Wild-Ass Guess Don’t Try to Get Too Accurate “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.

The Five W’s and the 5 Why’s Why

Know Thyself First Information Sources Where is your company? directories, associations, conferences, partner sites Internal Resources Where have your people come from? competitors, clients, suppliers, academia Performance What metrics do you use? business model, delivery channels, key ratios

You’re Not the Only Company in Your Market Search Out Industry Resources Industry associations Conferences Standards bodies Market analysts and consultants

Industry Value Chain / Ecosystem TelcosRetailersConsumers You Technology Partners Distributors Integration Partners Standards Bodies/ Regulators Legacy System Suppliers Standards Bodies Device Manufacturer Operating Systems Enterprise Software Handset Software System Integrators Value ChainEcosystem

Key Account Profiles Easy to Share/Update Corporate Description Profile Contact info “Pain” Technology Profile Legacy systems Integration partners Competitive Profile Who What Why How

Organization Charts Who do you need to talk to? o Decision Maker o IT Influencer o ROI Influencer o Recommender What are their motivations? Alice Bob Charlie Doug Ernie Frank

Love Your Local Libraries Free Access to Premium Information Sources Hoover’s, Factiva, online trade journals Fee-for-Service Research Services Vancouver Public Library InfoAction

Talk to People 80% of the Information Sought Is Often at Hand Company Management Sales Team Investors Customers Partners Suppliers

Share with Others in the Same Boat Talk to Others Working with the Same Clients (Avoid direct competitors) How long do sales take? What is the process? Who are the gatekeepers and decision makers?

Google Is Your Friend… But Not Your Only Friend Learn Advanced Search Techniques Use at least 3 words Go beyond the first results page Try phone numbers, addresses and given names Try Other Search Engines and Tools Bing, Zoominfo, LinkedIn, Jigsaw, Facebook

Favourite Tools Aggregates information on people and companies (on Internet) Export contact and profile information

Favourite Tools Leverage your network Ask questions of “experts” Find “hidden” resources Better understand your prospects The bigger your network, the more effective this tool becomes

Favourite Tools Business card exchange Find direct contacts and avoid the gatekeepers Use to update your CRM files

Favourite Tools Aggregates information on people Focuses on ‘Deep Web’

Favourite Tools Set up alert s to monitor job postings in your industry

Think Big Fish, Small Pond Look Where Your Target Is a Big Fish Local newspapers Trade journals Associations

Follow the Money Where $$$ Changes Hands, So Does Information M&A and Financing Events Hirings and Layoffs Large Purchase s Customer purchase orders Real estate Patent Assignments

Enjoy Public Filings Rich source of information Management discussion and analysis Key announcements Key metrics View over time Sense of direction

Change Is Good 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 Always look for changes; they suggest something is in play

Favourite Tools Understand where your client/competitor has come from Compare historical snapshots to establish trending Watch market positioning, language, products, staff turnover

Favourite Tools Track Changes on Target Pages Watch changes in company news,market positioning, language, products, staff turnover

Watch Trademarks and Patents Great Source for Early Warning Often outline intent long before it becomes reality

Favourite Tools Search your industry for recent patent filings Understand the people behind the technologies for strategic recruiting

Learn Porter’s Five Forces Threat of New Entrants Bargaining Power of Customers Substitute Products or Services Bargaining Power of Suppliers Jockeying For Position Among Competitors

When in Doubt, Hire a Professional Don’t Be Shy Manage your resources wisely Some work is better done by external experts

For More Information Steve Thomson Thomson & Associates