Competitive Intelligence in product marketing and the missing pieces by Octopus Intelligence

Competitive Intelligence in product marketing and the missing pieces

by Octopus Intelligence Octopus Competitive Intelligence

The focus on Competitive Intelligence in product marketing often revolves around data collation. Data is represented in neat tables, charts, and good old battle cards. However, Competitive Intelligence can be used in so many more ways than this. This article is called Competitive Intelligence in product marketing and the missing pieces. Using Competitive Intelligence properly, you can uncover insights about your competitors. The Insights about their current and future products that you may not have known existed. Additionally, Competitive Intelligence help makes better strategic decisions.

Creating comparison tables with ticks and crosses and SWOT

We read articles about using Competitive Intelligence in product marketing. They tend to focus on creating comparison tables with ticks and crosses and SWOT. Two-page battlecards, benchmarking and understanding about where a product can win. The focus can be on these reporting tools and not the insight itself. Reporting tools that are incredibly important to quickly take in current information. Salespeople need to know what’s going on and how they can get a deal over the line.

Some in product marketing Competitive Intelligence miss the critical fact. That Competitive Intelligence is all about understanding what will happen next.

Benchmarking is not the only answer

Benchmarking and battlecards are great to isolate the current situation. Knowing how well your product is competing against rival products. But just using benchmarking encourages us to just keep up with competitors. Benchmarking should be renamed to something like “howtoblowtheirproductoutofthewaterwithournextoffer marking”. Ok, a more catchy name may be needed.