The Role of Competitive Intelligence at LexisNexis Beverly Parker SVP, Corporate and Federal Markets LexisNexis beverly.parker@lexisnexis.com
Summary Competitive intelligence is integrated into the workflows and knowledge management process at LexisNexis. Marketing, licensing, product development, and sales teams and the executive leadership all participate in and benefit from CI practices.
Learning Objectives What is the LexisNexis CI philosophy? Who collects CI at LexisNexis? How is CI disseminated, shared, and archived? How might CI be derailed? What are some of our CI best practices?
What Is Our CI Mission? We provide timely and accurate intelligence analysis for Senior Management, Strategic Marketing, and EPD. It is important to understand this is not limited to simply monitoring a handful of competing companies. We also monitor and evaluate the competitive environment.
Who Collects CI at LexisNexis? Strategic CI -- CI team, staffed by research specialists, including MLS, MBA, and JD professionals Tactical CI -- EVERYONE, including Account managers and consultants Customer Service staff Marketing and Strategy
What CI Sources Are Tapped? LexisNexis Research Services Ad hoc and persistent queries Industry watches, product announcements, acquisitions, intellectual property filings Competitors’ Web sites Email discussion groups Monitor solicitations for experiences with other companies, ventings
What CI Sources Are Tapped? (con’t) Analysts reports IDC, Forrester, Outsell CI professional materials Also available online at LexisNexis Professional association memberships Best practices Conferences and tradeshows People “Oops, wrong number!”
How is CI disseminated, shared, and archived? Intranets/portal Cross-functional teams Internal email discussion groups Sales Rep Support Hotline CI “hot tips” email Weekly “contest” Weekly/monthly reports For executive leadership For other departments
How Might CI Be Derailed? Trojan horses and loose lips Contractors and temporary employees Internal turmoil Staff turnover Insufficient CI “soft skills”
What are some of our CI best practices? LexisNexis Research Services LexisNexis at nexis.com Personal News and Shared News LexisNexis Premium Trackers Web tracking Sales CI “hot tips” contest Email discussion group monitoring Conferences and tradeshows Professional associations People
Questions?
The Role of Competitive Intelligence at LexisNexis Beverly Parker SVP, Corporate and Federal Markets LexisNexis beverly.parker@lexisnexis.com