Bob Beck Sales Trainer Explains Competitive Intelligence

In our Quid Pro Quo Sales Training program, we let you define Competitive Intelligence. However you define it, competitive intelligence boils down to a process and a product. The process consists of all the actions you take to get information about your competition. The product is what you decide to do with that information.

The scope of this information is broad and that's why sales training in this subject will be helpful for your sales career.

It involves more than simply understanding your competitor's behavior, although that is a key part. Its influence and usefulness shows up in many firms in other areas more traditionally served by existing silos of functionality who sometimes take offense at competitive intelligence playing on their field. Just know that, unlike industrial espionage, competitive intelligence is an ethical and legal business discipline widely utilized by the business world.

Quid Pro Quo Sales training will further explain that in the business world competitive intelligence has expanded from early beginnings of helping a company win the zero-sum-game of "we-win-and-they-lose." Today it includes supporting thorough external information collection, analysis, and formulation of strategic recommendations, and virtually all of the sundry short- and long-term market objectives of a firm and its stockholders.

Competitive intelligence (CI) is an important part of any company's game plan. Competitive intelligence is the cornerstone to a winning team's weekly game plan. Used correctly, it can become the cornerstone of your game plan too.

The mistake you can make as a competitive intelligence scout is being nearsighted about an original mission. In the business world, CI scouts define their own value to the firm as it relates to tracking competition in the near-term businesses in which the firm is currently competing. They don't concentrate or direct any effort towards helping the firm to grow more profitable or to take advantage of opportunities presented by economic circumstances.

Competitive strategy is vital for all sales gurus, trusted advisors or anyone during economic downturns and for any team that does not have a winning record-it's just different in nature from the strategy you'd pursue during expansionary business cycles.

Remember, your competitive strategy will be come a reality when you become serious about investing in yourself and quid pro quo sales training.