Win deals faster with Dynamic Comparison

Wouldn’t it be great if …

…sales teams never had to wait for analysis and guidance when a competitor launches a new product?

…marketing, sales, and competitive teams could always identify silver bullets to use against the competitor?

…your marketing and CI teams could instill confidence in everyone that they know where your company stands against every competitor and their products at all times?

Now you can, with Dynamic Comparison by Compelligence.

Consider this example:  Your competitor comes out with a new product or service, and what happens at your company?  If you are like most companies, the story probably goes something like this:

A salesperson sends a frantic e-mail to an internal distribution list that says “Help! My customer is considering the new Widget3000XR-10 from our competition. Does anyone know about this thing???”  That e-mail eventually makes its way up through sales management and over to the product and marketing teams, where it gets assigned as a critical project.  Multiple people scramble to get data sheets and information on the new product and try to figure out a way to position against it.  It can take days at best, perhaps weeks in some cases to create and distribute collateral to your sales teams to tell them how to sell against this new threat.  In the meantime, the salesperson is stuck trying to find a way to respond to the customer, while the competitor is in the customer’s office showing off their shiny new gadget.

Sound familiar?   I’ll admit, it is challenging to contextualize a new competitive offering:  how does it compare to your existing products or services? What are its strengths or weaknesses?  Where does it fit in the industry? How do you create new collateral to educate your sales teams on this product?

But it doesn’t have to be this way. Now you can quickly analyze new competitor products and win deals faster.

At Compelligence, we just released a powerful new feature called Dynamic Comparison that eases this process.   It allows CI teams or marketing teams to simply enter the capabilities of a new competitor offering, and Compelligence in return will analyze that new product. It will highlight its strengths and weaknesses, and make that information available to sales teams immediately.  It can help product marketing teams identify better strategies for positioning against the new threat.  It can tell you how that new product stacks up not only against your offering, but also how it compares to the rest of the industry.  And it can reduce the scramble to create new content.  Rather than creating hundreds of panicked e-mail threads and confusion, Compelligence enables you to maintain focus in a changing competitive environment.

So change the story at your company.  Don’t leave your sales teams waiting for guidance on new products while your competitor is closing the deal.   Ask us for a demo of how Dynamic Comparison can help your sales teams win deals faster, and how Compelligence can keep your company in front of your competitors.


Increase your revenue by partnering with Compelligence!

The Compelligence platform was developed to allow Enterprise companies to win sales deals faster by delivering highly-relevant, deal-specific guidance to sales teams on demand.  Now, it can also help CI companies add revenue and value as well.  Compelligence, Inc. has formed a new partnership program that allows partners to leverage our solution.  We have 3 levels of partnership that range from simple referrals to enabling a “CI-as-a-Service” solution for providers.  Please join us to learn more about this exciting program!

WHAT:  We will host a demo and information session that showcases the capabilities of the Compelligence system, and also provides an overview of our partner programs.

WHO:  This session will be of interest to individual CI consultants, small CI firms, and CI companies that offer a variety of services and support to enterprise customers.

WHEN:  The Webinar will be on March 21st, 2013 at 11:00 am PDT

SIGN UP: You can register for this event via the following link: http://www.anymeeting.com/PIID=E953D680814731

Please see our partner page here for more information about our partner programs.


Competitive Sales Guidance: Don’t send your sales teams on a scavenger hunt

If you are part of a competitive intelligence team or a sales team, I’m sure you are familiar with this scenario: your company has a critical account or a need-to-win customer that your competition is also pitching to. A salesperson on the account team asks the CI analyst for competitive sales help, and the CI analyst says, “Please look at our internal website or Sharepoint site—we have lots of documents that address our competition.”

Great. So now the salesperson has to hunt through many pieces of content that may or may not pertain directly to the customer deal at hand. This does not help win the deal in an efficient fashion. It’s a mistake that I’ve seen made in multiple companies: salespeople want help with how to sell against the competition, but what they get is competitive data when what they really need is competitive guidance.

There’s an important distinction here that gets missed between competitive intelligence and competitive guidance: the output from a CI team should not make more work for the consumer of the information. What many sales-supporting CI teams fail to do is to provide the distinct and customized “how-to” that tells sales what they need to say or do in order to win a deal. Sure, you’ve made sales guides and silver bullet sheets and cheat sheets and playbooks and competitor profiles, but the problem with all of that is that no matter how much information is put into them, it’s never just right for each individual deal.

I hear your objection already: “But it’s futile to try to make content that is particular to every deal. There are just too many deals!” And, you’re right. But that’s where the flaw exists in most sales-facing CI programs. CI teams, especially the ones that support sales teams, focus on building content that provides information, when instead they should be focusing on how to provide guidance that can be tailored to each deal.

When it comes down to it, the main job of a salesperson is to do one thing: to close a deal in order to bring revenue to the company. Yes, there are several other things as well, but the less time that a salesperson is closing deals, the less profitable your company becomes. If you are making your sales teams dig through hundreds of slides in a playbook, or if you are making them modify silver bullets that aren’t just quite right, you are taking away from the time they could be spending closing a deal and moving on to the next one.

So now you’re asking “Ok, so what is this guidance that they need?” I’m glad you finally asked. Your sales teams most commonly need a few specific tips in a competitive sales environment:

1. What is the competitor product?
2. How do I position my product against the specific competitor product?
3. What landmines might the competitor have set for me, and how do I avoid or diffuse them?
4. How is the competitor positioning their product relative to mine, and how can I deposition it?
5. How do all the features compare between my product and the competitor’s product, and which are the strengths and weaknesses?
6. What are the main benefits for each of the key features of my product?

If your salesperson knows all of these things, then he or she is probably pretty well equipped to convince the customer why your product or service is better than the competitive offering.

So make it easy for your sales teams. Don’t send them on a scavenger hunt when they need guidance on how to win a deal.


Join Compelligence as we present “Winning Competitive Deals with Dynamic Battle Systems & Why Battle Cards Fail”

UPDATE 12/11/2012:  The recording of this session can be viewed at http://www.anymeeting.com/compelligence/EC56DA82864B

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Competitive Intelligence teams often struggle with questions such as “Why won’t management listen to me?” or “How can I demonstrate that we are adding value?”

We at Compelligence think we have an answer: Help sales teams win more competitive deals.  This lays the foundation for organizational respect that will get your voice heard at the C-Level.

In order to achieve that goal in today’s increasingly competitive environment, new methods must be mastered.  It is time to throw out the “Battle Card” and start using “Dynamic Battle Systems”.

View the webinar here.

What is a Dynamic Battle System?

A Dynamic Battle System delivers an on-demand sales strategy that is specific to both the deal and competitor on each and every engagement. What is different about these systems is that the intelligence is automated saving the analyst time and improving sales-teams satisfaction with and participation in the competitive process.

When?

Tuesday, December 11, 2012 at 9:00 AM – 9:30 AM (Pacific Time)

What?

This session will cover

  • Sales teams’ new competitive needs to win in today’s environment
  • Review of the standard competitive sales tool: Battle Cards
  • Why battle cards don’t work
  • Dynamic Competitive Battle Systems – the new solution
  • How to get Sales Involved in the competitive intelligence and competitive strategy processes

Teams that will benefit from this webinar include

  • Sales
  • Sales Operations
  • Marketing
  • Competitive Intelligence teams

Additionally, Competitive Intelligence services providers can benefit by partnering with Compelligence and providing services to their most important clients.


The military transformed from film-based photography to digital because of speed. Are you still using film for your competitive intelligence?

You wake up.  Pour a cup of coffee.  Receive an urgent text message.  Your start your email …it’s blowing up.  You pull up your internet news or fire up your Competitive Intelligence system or your environmental-scanning system and see the announcement…. So much for the coffee.

How many competitive intelligence professionals have faced that very situation?  I think we all have.

Your circumstances may be different, but the risk is the same.  The risk is to you, the Competitive Intelligence professional and your personal brand as the “Competitive expert.”  Isn’t that really what your brand is: “The Competitive Expert” in the company? I’ve found it rare for leaders in today’s corporations to differentiate between competitive professionals that support sales teams vs. those that support corporate strategy teams vs. those that do anything or everything else.  In fact, I’ve found that if you have “Competitive” in your job title, your peers will pretty much turn to you in any situation that has anything to do with a competitor.  They expect you to be the Swiss-Army Knife Competitive Professional.  And if you don’t have an answer for their competitive emergency then ‘that’ look comes over their face: disappointment.  Face it.  Your brand is at risk.

The situation can be anything:  a press release by a competitor, a competitive product launch, a marketing or advertising program, or a competitor acquiring another company.  The list goes on.

So, what do you do after you clean up the coffee?

Most companies launch ‘tiger teams’, hold group meetings, conduct hasty analysis, formulate competitive assessments and impact analysis, and communicate them to stakeholders.  The process is often filled with anxiety.  Are we working fast enough?  Are we considering enough data?  Is our analysis consistent?  No matter how much value you have added in the past, your time to shine is now.

Let’s use a competitor’s product launch as an example, and ask two game-changing questions:  (1) What if you didn’t have to do any analysis and still had the correct answers?  and (2) What if you had a system that allowed you to simply enter key elements of information and it did the analysis for you?

Today’s competitive environment is getting faster and bigger.  In certain industries, there are hundreds of products with new entrants being introduced rapidly.  Competitive intelligence teams are utilizing Microsoft Excel, PowerPoint, and in some instances IT systems or databases to conduct analysis in order to determine the competitive impact of a new product.  Some best practices include 1) Centralizing data in one place, such as a team site like Microsoft SharePoint 2) Collaborating on the analysis, with participation from experts across the company   3) Distributing the final analysis via email, or a collaboration system such as Jive or the corporate intranet.

Through excellence in execution of the above process, a competitive intelligence professional can attain a level of success that may keep your company competitive and protect your brand.

This process reminds me a bit of the days when militaries would send aircraft out to recon enemy territory with photography equipment.  The plane would make the long trip.  The film would be processed.  Then armies of analysts would look over photos inch-by-inch to search for important information.  In today’s environment, this process is slow an antiquated.  The military now uses digital systems that have embedded intelligence to assist analysts.  Do you have systems like these in your organization–systems that help automate and ease the analysis process?

Is that where we are today?

Compelligence aims to change that process.

In the coming weeks, Compelligence will transform that product response process via system automation, consistent analysis, and dynamic comparison that will enable sales teams and leadership to quickly analyze competitor events at a level of detail previously not available.

But this blog is getting long… I’ve got to set the timer on coffee for tomorrow morning.


Build sales battle systems, not battle cards.

“What should we put on our battle cards?”

That’s a question I commonly hear from CI professionals. My advice: forget the battle cards.

Sure, battle cards are a great thing to have if you want to help a few of your salespeople in some deals. If you work at a large company with multiple competitors, they are also a great thing to make if you get paid by the hour since you likely will spend a lot of time customizing them for each salesperson that undoubtedly will complain that the battle card isn’t “just right” for his or her situation.

In most circumstances, battle cards don’t provide a good return for the effort that goes into creating them. Here are the problems I see with creating battle cards:

  1. Battle cards cannot be created to suit each particular deal. They end up being either too specific in scope or too general. A specific battle card is great for one or two deals, but you will always be customizing it for each sales person’s needs. A generic one will be useless to your sales teams or will put them at a disadvantage in a competitive situation.
  2. Version control is challenging. Like any document, once you create a battle card and publish it on a website or on a Sharepoint site, your sales teams typically will download it and store it on their personal device. They may not frequently check for updates, or they will modify it for their own uses and the rest of your salespeople will miss out on shared intelligence.
  3. Battle cards do not scale well, particularly in highly competitive industries. If your company has as few as 10 competitors, each with as few as 3 products that can compete in multiple industries, you are creating a lot of battle cards. Now go and manage and maintain them.
  4. There is no built-in feedback mechanism on battle cards. A salesperson cannot easily attach feedback or new information to a battle card. Sure, they can e-mail the person who created the card, but that e-mail is difficult to track to ensure that the battle card is updated and shared with the rest of the sale field.

What you need instead is a battle system.

A battle system is something that allows sales teams to get customized information based on the particular competitors or products that they are facing in each different deal they are handling. It allows them to see what information has been useful to other salespeople and to have attached discussions, feedback, and expansion points on the data. It allows them to be sure that they are getting the latest information, from a single easy-to-find location. Perhaps it even delivers all their competitive information right inside Salesforce.com. It also allows the content creators to track usage of their content and to know which pieces of it are working and which are not. A battle system replaces a battle card which typically is limited to the information that fits on a single slide, and provides a set of complete competitive data that can be viewed on a single screen—competitive profiles, product and service overviews, sales strategy, pricing, and dynamic product comparisons–all linked to other resources and ways to get help.

This is one of the reasons why we developed the Compelligence System. In our experience working with sales teams and competitive teams, we saw lots of hours spent on customizing battle cards, competitive playbooks, product comparisons, and other content. It’s an inefficient way to work, so we built something better: a battle system that enables companies to compete more effectively and to win deals faster.

So next time you are making or reading a battle card, a how-to-sell document, a product comparison, or something like that—ask your self if there’s a better way to do your job, a more effective way to make it work, or a smoother way to scale your solution. Then feel free to contact us and let us show you a better way!


The Competitive Intelligence Circle of Life

As a CI practitioner, I’ve found one of the best resources has always been sales teams. I’ve witnessed different CI programs that neglect this fact and end up struggling. The storyline from them is usually something like this: “But our job is to do strategic intelligence—you know: early warning systems, KITs, trends—that kind of thing. We aren’t in the sales organization and don’t have time to support them.”

This is a major flaw. The sales teams face the competition every day and are typically the first people inside a company to find out what the competition is up to. Every day, they hear from your customers all the great things your competition is planning and why the competitors are better than you. It pays to keep track of these things too—it can help you build profiles, trends, and threats. It will give you the first view of what really is happening in your industry.

It also helps you, as a competitive intelligence practitioner. One of the most common complaints in the CI world is “The executives don’t listen to my advice.” Of course, they don’t. That’s because your advice doesn’t affect dollars. Get sales on your side and they’ll tell you exactly what is happening in the industry and how much it is costing your company. They are losing their commissions and not meeting their quotas every time they lose a deal to that new under-the-radar competitor or to the established competitor that just implemented a new technology standard. Piece together a few bits of information like that and you have first visibility into a longer-term trend and real threats to your company.

“But sales won’t talk to me. I can’t get time on their calendar.” That’s the next complaint of many CI folks. And the reason sales doesn’t talk to you is because you can’t help them close their deal any faster. When you can organize your intelligence so that it helps you with your strategic focus –AND- it helps your sales teams win deals faster, then you are in the perfect place. (Check out our previous blog post on this topic). The more love you show to the sales teams, the more they give back to you in those early bits of intelligence.

So go make friends with your salespeople. Show them you care. Show them you can help win their deals. And then use them to feed your strategic systems, which in the long-term help you win more deals and collect more intelligence. It’s the circle of life in the CI world. (You know the music that goes here.)


Stop babbling on the phone and start helping your sales teams win

In my years of working in the CI field, I’ve found that I was frequently responding to sales teams who needed “critical” help to win competitive sales deals. If you are a CI analyst, I’m sure you are aware of this scenario: you’re working on a research project and you are called off of it to support a sales team. The sales team is up against a competitor and they need to know what to do. So you put your research project aside and you help the account team gather information, and then you go back to your work. The next day it’s a different account team who needs something just a little bit different, so you set your research aside again and help them gather information. It’s a constantly interrupt-driven process.

But I’ve found that you can defray most of these “911 calls” if you make a certain set of information available to your field. Many times the “critical” help they need is just in where to find things. In essence, help them know the most commonly requested sets of information about your competitors, and you’ll get interrupted far fewer times.

The question is, what is the “right” set of information? The world of CI is vast and there are lots of different things to know about a competitor, but here are my suggested “Items to Know” that will empower the sales teams to effectively compete in most situations:

  1. Know your competitor’s products or services. It sounds basic, but I was often surprised by calls from sales teams who didn’t know the basic description of what the competitor was offering. But it makes sense—many companies spend a lot of time training sales teams on their own products, but relatively very little time on the competitor products. If you can let your field know at least what the competitor’s product or service is, what it looks like, and the high-level description of it, it puts them in a better place to understand what they are up against.
  2. Know your competitor’s positioning strategy. Again, sales teams are frequently provided guidance on how to position their own product. What they get less of is how the competitor is going to position and attack. Marketing will often tell the sales teams all the wonderful things to say about their own products. But don’t leave your sales teams blindsided by forgetting to tell them the objections your competitor is going to raise, and how to handle those objections. Also make sure your sales teams know how the competitor positions themselves and how to effectively deposition the competition.
  3. Know the major areas of cost for your competitor. In the early stages of a deal, the sales teams most likely don’t need your competitor’s full price list. What they need to know are the major components of cost: Is service included? What are the major options to the competitor product? What does your own product include that might not be included on the competitors? This will help address the “…but your product costs twice as much as your competitor’s product…” argument. Yes, it costs twice as much, but it includes two times as many features which are all extra-cost options for the competitor.
  4. Know how to compare the product or services. Sure, you can give your sales teams the competitor data sheets. But then you are requiring them to spend time building their own comparisons rather than spending time on the customer. It will be better if you allow them to see those things side-by-side with your own products, and let them know what areas to highlight. And you can go beyond the data sheets too. Consider the things that your customer is going to make a decision on—it might not be a feature of the product, but instead might be a quality of the company: the service and support mechanisms, locality, experience of employees, etc.
  5. Know where to get other information. Who are the experts that can be referenced regarding competitors, or where does the sales team find other documentation? This could be a Sharepoint site, an Intranet site, or an e-mail alias. Make sure the account teams know all the resources that exist for them. Sometimes they call you as a CI analyst because your phone number is the only one in their address book.

If you can have this information readily available to your sales teams before they approach the customer, your phone will be ringing far less. Unless you like answering the phone, then by all means leave them searching for information.


We think we are a Competitive Intelligence company, but you may not…

Over the years, I’ve participated in SCIP meetings, read all the articles, witnessed the rise and fall of many CI programs including the famed CI program at Motorola which was always referenced as a bellwether for the industry. I’ve read how Eric Garland left the Competitive Intelligence industry and took quite a few pot-shots on his way out (Peak Intel: How So-Called Strategic Intelligence Actually Makes Us Dumber). Even recently I was engaged directly in a debate on Linked-In about how to conduct competitive intelligence which turned into a debate on what CI really is…

Which makes me wonder. Is Compelligence, Inc. a Competitive Intelligence company?

What makes us different is that we believe, fundamentally, that the first role of a solid Competitive Intelligence program is to help sales teams win more deals.

Yes, I said it. Help the sales team’s win more deals. This is not the only thing that must be done, obviously. But we think it is critical for the long term success of a program. In fact, Compelligence as a software solution and as a process has advanced features of industry-analysis, trend-analysis, and financial reporting and comparison and most of these features support strategic level analysis – but more on those in a future blog post.

So, let’s get the facts out on the table. We are a young company. But we have customers. We are challenging the notion that perhaps there are different types of Competitive Intelligence that include both strategic intelligence and tactical intelligence (if you want to call it that, which could be a misnomer as the word ‘tactical’ implies less value – the opposite of what we think is actually true). But we didn’t come to this position by happen-stance. The senior partners have a combined 20 years of experience at 8 companies.

So, in the end, does it matter? Maybe, maybe not.

But if you want to change the strategic direction of a company with unique insights there are few things you should be able to do:

Have the head of sales on your side
Be laser-specific in the data that supports your strategic recommendations
Have a structured approached that drives consistency and a wide-level of participation

If you can do these things, we believe you’ll be more successful.

So, while you are debating what Competitive Intelligence really is, we’ll be helping sales win more deals, collecting more information, putting that information into a structured, global cloud solution, that turns the entire organization into the Competitive Intelligence team.

Let us know who wins the debate.

Thanks,

Compelligence.