LAC Group uses cookies to improve functionality and performance of this site. More information can be found in our Privacy policy. By continuing to browse this site, you consent to the use of cookies.

Optimizing the value of market intelligence

August 20, 2018

Home Blog Research & intelligence Optimizing the value of market intelligence

Getting the utmost from market intelligence.

The competitive landscape for professional services is dynamic firms are finding new areas of opportunity, but also facing pressure and potential disruption from many quarters. Market, or competitive intelligence performs an essential role in helping organizations adapt, and stay ahead of the competition. Like any essential resource, firms should routinely assess their market intelligence function to ensure it is delivering the greatest value.

For professional services—law firms, consultants and financial advisors—market intelligence powers business development by identifying opportunities, delivering client and prospect insights and supporting thought leadership. It also supports strategic and operational decision making by identifying trends, providing early warning of competitive threats and surfacing new risks.

How can you tell if your market intelligence is meeting your requirements—and doing so in the most timely and efficient way? The answer is to conduct an assessment.

A firm’s intelligence functions should be regularly assessed for such things as how well they align with the firm’s strategic vision, how actionable their output is, and how efficiently they leverage resources. An assessment or audit of your market intelligence functions will help ensure that you are getting the maximum return on your investment.

How to Assess?

Depending on the size and scope of your operations, an assessment might seem like a daunting task — but it shouldn’t be. We recommend that you start with a relatively quick survey that can identify what areas have the greatest gaps or shortfalls. In this way you can prioritize what needs immediate attention, and focus your resources on those. You can also identify those areas that might require more moderate adjustment and where you don’t need to tinker.

ShiftCentral can help. We work with our partners from day one to help align and prioritize their intelligence requirements, and we are also available to provide our knowledge and expertise when a firm needs to look across its broader market intelligence function. We can help you ask the right questions, be efficient, and most importantly map the results.

Connect with us on LinkedIn for more updates from the market intelligence industry.

This article was originally published on ShiftCentral, now part of LAC Group.

Mario Thériault

Mario Thériault

Mario Thériault is Chief Business Development Officer and oversees all aspects of LAC Group’s growth strategy, partnership and alliance programs. Prior to LAC’s acquisition of ShiftCentral, Mario served as CEO and continuously evolved the company to emphasize the importance of strategic, curated intelligence to solve clients validated business needs.
Mario Thériault
Questions? Send me a message on our contact us form.

Related posts

Donald Trump and the value of market intelligence

These are uncertain times for the U.S. financial and healthcare industries. Donald Trump has promised significant changes in both sectors…

Read more
Market intelligence you can trust

When a company is keeping tabs on its competitors through a competitive intelligence service, it’s important it considers the moral…

Read more

Subscribe to our blog

Get notified when new articles are published.