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How to share competitive and market intelligence across the company.

Competitive research and market intelligence is powerful knowledge. Here are some tips to ensure it is applied and shared across your organisation. 

By Tyler Logtenberg

After you put all that great work into understanding how you can lead your market, you need to share those insights. This is essential as these insights have a direct impact on both your business strategy but also the success and positioning of your product.
Here are a few recommendations on how to put these insights to work:

 

1. Competitive Intelligence Distribution Group

If you have followed our guides on visualizing competitive intelligence through a SWOT matrix, or other analysis, you will have a key group of strategy people in the organization that are stakeholders in actioning this research. Create a distribution group of these individuals and share updates on a weekly or monthly basis as you uncover new intelligence through Rival.

2. Wiki/Intranet

If you have an intranet or Wiki, place your analysis there and update it often. This is also a great place to put your competitive battle cards as sales, marketing, product, and development can all benefit from this one-stop insight into specific rivals. If it is a challenge to keep everyone updated to changes, and you don; thave an intranet, try a slack channel (or other company-wide internal messaging tool) with updates as new information is found and linking back into your intranet/wiki. I have previously set up “market_updates” as a channel in previous companies for this very reason.

“If it is a challenge to keep everyone updated to changes, and you don’t have an intranet, try a slack channel.”

3. Stakeholder meetings.

Try having regular stakeholder meetings on competitive intelligence or blend it into existing product stakeholder / business strategy meetings. In this meeting, you can quickly review changes to competitors and the market and the new insights pulled from that information. Then tie it back by showing how it has impacted or changed different visualisation or priorities in the business.

I hope that helps. Reach out to use at @rival_app on Twitter to suggest other great new ideas on how to ensure insights are shared in the organization.

If you are ready to apply some of these learnings in your organization, check out our template pack of analysis frameworks.

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