It’s surprising how many companies and professionals I meet who gather ongoing market intelligence without a robust Market Intelligence Map.
Why should your company use a map, you ask? Mapping out your company’s MI needs is critical. It’s the first step to implementing an ongoing strategy that will support your team and help your company make decisions. With your MI Map, you’ll understand exactly what your MI team, your company, and your executives need to support their decisions along the way. Once you have that articulated, finding and tracking the information becomes much easier, leading to clearly actionable insights.
From my perspective, simply put, the Market Intelligence Map is designed to highlight your Key Intelligence Topics. Conducting interviews with key people within various channels of your organization can help identify these KITs.
The MI Map isn’t just an excerpt from your company’s annual report or the blurb from your website. It’s a carefully built profile that encompasses your competitors, your clients, your prospects, and your business.
In an upcoming post, I’ll explain how KIT information can be gathered to build a precise, yet flexible, MI Map.
This article was originally published on ShiftCentral, now part of LAC Group.