Steve Thomson, PrincipalThomson & Associates

www.thomsonconsulting.ca

778-371-8963

Introduction to Affordable Tricks and

Tools for

Learning New Markets and Increasing

Insight

Market

Intelligence

What is Market Intelligence?

Business Intelligen

ce

Market Researc

hFeeds:StrategyTactics

OperationsCompetit

or 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

Telcos Retailers

Consumers

You

Technology

Partners

Distributors

Integration

Partners

Standards Bodies/ Regulato

rs

Legacy System

Suppliers

StandardsBodies

DeviceManufactur

er

Operating Systems

Enterprise

Software

HandsetSoftware

System Integrat

ors

Value Chain Ecosystem

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 Makero IT Influencero ROI Influencero 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• Managemen

t• 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 FriendLearn

Advanced Search Technique

s

• Use at least 3 words• Go beyond the first results page• Try phone numbers, email

addresses and given namesTry Other

Search Engines

and Tools

• Bing, Zoominfo, LinkedIn, Jigsaw, Facebook

Favourite Toolswww.zoominfo.com

Aggregates information on people and companies (on Internet)

Export contact and profile information

Favourite Toolswww.linkedin.com

Leverage your network

Ask questions of “experts”

Find “hidden” resources

Better understand your prospectsThe bigger your network, the more effective this tool becomes

Favourite Toolswww.jigsaw.com

Business card exchange

Find direct contacts and avoid the gatekeepers

Use to update your CRM files

Favourite Toolswww.pipl.com

Aggregates information on people

Focuses on ‘Deep Web’

Favourite Toolswww.monster.com

Set up alert emails 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 Purchases• Customer

purchase orders

• Real estate

PatentAssignm

ents

Enjoy Public Filings

Rich source of informati

on

• 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 Toolswww.archive.org

Understand where your client/competitor has come from

Compare historical snapshots to establish trending

Watch market positioning, language, products, staff turnover

Favourite Toolswww.watchthatpage.com

Track Changes on Target Pages

Watch changes in company news,market positioning, language, products, staff turnover

Watch Trademarks and Patents

Great Source for Early WarningOften outline intent long before it becomes reality

Favourite Toolswww.freepatentsonline.com

Search your industry for recent patent filings

Understand the people behind the technologies for strategic recruiting

Learn Porter’s Five Forces

Th

reat

of

New

E

ntr

an

ts

Bargaining Power of

Customers

Su

bstitu

te

Pro

du

cts or

Serv

ices

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 & Associateswww.thomsonconsulting.ca

778-371-8963