While there are a number of benefits enterprises can leverage from a service providing market insight, getting the most out of it goes beyond simply subscribing to a service. Monitoring market developments can help ensure your company – from the executive level to the sales team – is informed of market and competitor developments, but a company-wide effort can help ensure the best ROI.
Whether your company is tracking clients, competitors or the industry landscape in general, some best practices for leveraging market insights include:
- Establish a structure: Ensure the service is being delivered in a way that works best with employees. A service with a mobile app would be beneficial to remote employees who are on the move, while a daily email would be best for employees who spend their days at a desktop. Ensuring the information comes at a convenient time of the workday will also help with employee engagement;
- Engage your providers: As the market is in flux, a service should be fluid to match these changes. Schedule monthly, or quarterly calls with a provider. Try to have thought leaders or marketers involved. This will ensure your service is aware of shifts in company goals and ready to help. Failing to do this could lead to stale content being provided, leading to a lack of interest; and
- Identify a champion to ensure leaders are actively involved: Having the executive level involved in the planning and promotion of a service will encourage employees to use the service. Having someone serve as a lead to bring everyone together and ensure their involvement will also help your company make the most of the content being provided.
This article was originally published on ShiftCentral, now part of LAC Group.