Harnessing Sales Teams as a Source Of Competitive Intelligence
Imagine a mine filled with precious intel on your competitors. Now, imagine not having to go very far at all to find it – because it’s right there, within your business. Where? Your sales team.
Unleashing the power of sales as CI agents
When it comes to competitor analysis and market research, we often overlook the closest source of first-hand competitor insights – our own sales teams.
Salespeople are in constant contact with customers and prospects who, more often than not, have sampled your competitors' offers as well. They’re in a fantastic position to tap into valuable insights and have a keen understanding of the competitive landscape.
Every sales call, every client meet-up – they're picking up valuable nuggets of information about your competitor's moves, pricing strategies, and winning feats that can be important for your business.
The power of effective interviewing
So, how do you tap into this wellspring of wisdom? Quite simply, start interviewing them. Data points from competitive intelligence tools are useful, but this information won’t beat the human touch for gaining nuanced perspectives, anecdotal evidence, and individual insights.
Be intentional and direct
Salespeople are all about their business. They have a job to do and are unlikely to volunteer insights unless you make a purposeful effort to gain insights from their experience.
Another point to keep in mind is that salespeople can present with a level of bias. This is completely understandable – but with the right approach, and by making it clear that you are here to learn for the sake of the company, you can glean highly valuable data points from them.
Select the right salespeople to interview
Choosing who to interview is just as important as the interview itself. When selecting salespeople, target those who directly interface with customers and competitors.
Look for veterans who understand market trends, newcomers with fresh perspectives, and those who consistently achieve or surpass their targets. Their direct experiences and diverse viewpoints can provide great insights for your competitor analysis.
Essential questions to ask in CI interviews
The right questions can guide the direction and depth of your interviews. Keep in mind that the goal here is not to ask your salespeople directly about their old employers; it’s not in good taste, and ultimately, it would only give you one piece of a larger puzzle.
Instead, ask questions that will elicit the most well-rounded responses. Here are some recommended questions when interviewing your sales team:
What sort of push-back or questions do you usually run into when chatting with potential customers?
Can you shed light on a recent win or loss against our main competitors?
How do our competitors position themselves against our products/services?
What trends do you see in customer preferences?
From your interactions, do you sense any gaps in our current offerings compared to the competition?
These questions, fitted to your organization's context, can help unpack your sales team's experience and on-the-ground encounters in the field
Wrapping up
We've touched on identifying your in-house experts, hosting effective interviews, zeroing in on the right salespeople, and asking the right questions to extract the best information. With this knowledge in your hands, it's time to start mining those untapped resources, the ones walking the halls of your organization every day.
While your sales team is out there on the field, uncovering insights and digging up intelligence, remember – you're not in this alone. Aqute Intelligence is ready to back you up on every twist and turn of your competitive intelligence journey. We set the stage with our rich experience and deep knowledge, turning these insights into actionable game plans.
Ready to ramp up your competitive intelligence game? Get in touch with us at Aqute Intelligence today. Let's revolutionize how you understand and outsmart your competitors.
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