Words that can bore a workplace to death. Words that buy a consultant a new BMW.
Countless business professionals have lost precious hours, even days, stuck in strategic planning sessions that seemed to be anything but strategic.
A concentrated effort to develop a market intelligence strategy can help alleviate the frustration of some of these meetings
Imagine you take one day to interview half a dozen key people throughout your organization — a VP, a marketing director, someone in business development, a senior research analyst. After finding out what information each person needs to fulfil their roles, you can start to create a plan that guides your company’s market intelligence strategy. You begin to identify market trends, potential clients, competitors’ movements.
When you have this outline of your overall needs, you can start to curate content based specifically on what is going to help push your company forward. The information you gather will directly support company initiatives. You’ll start to uncover nuggets of actionable insight, information that may change how you do business. Business opportunities can emerge. Client relationships can strengthen. Competitors will take notice.
A solid market intelligence strategy won’t save you from ever having to sit through another blue sky brainstorming session. But it can make the next one more focused and, hopefully, more productive.
This article was originally published on ShiftCentral, now part of LAC Group.