How to Connect with Senior Leaders

I was sorry to miss Scott Leeb’s talk, “CI Guerilla Warfare: Winning the Hearts and Minds of Senior Leadership.” Turns out I didn’t: it was videotaped here.

Small business team in theSo my Thanksgiving treat is a recap of Scott’s talk. Almost everyone I know in competitive intelligence complains about their lack of connection to senior management.

Many of us in competitive intelligence are our own worst enemy since we are steeped in competitive intelligence DNA and language, and don’t understand how the c-suite operates.

Treat getting in with the c-suite like battle:  “If you know the enemy and you yourself you need not fear the results of a 100 battles.” Sun Tzu, 500BC

Mind your Ps and Qs

Over deliver, but don’t overwhelm. Start with how your insight ties into the business results the executive cares about. Use their language, which is the language of business and know enough about the executive to understand his/her quirks. Their Admin will know these. Scott would schedule 5 minutes with an executive before his talk to make sure he was touching on what the executive cared about. They will find 5 minutes for you: it’s in their best interest, right?

Scott also applies his 7Ps from his military training to knowing how executives operate:

  • Proper
  • Planning and
  • Preparation
  • Prevent
  • Pitifully
  • Poor
  • Performance

Recognize the differences

Most executives live to work. They are under tremendous pressure and you don’t want to add to it.

Pick and maintain a voice, which is consistent and in alignment with the business goals

  • Be Bold
  • Be Brief
  • Be Gone
  • Be Authoritative
  • Be Opinionated
  • Be Balanced
  • Be Flexible
  • Be Careful (politics)

Scott suggests three practices when communicating with executives:

  • BLUFF: Bottom Line Up Front results Fast
  • KISS: Keep It Simple Stupid
  • 4Qs: Quantify Qualify Quality Quickly – Fast and Forcefully make your presentation to executives

Show them the tip of the iceberg from your analysis. Use appropriate language, not CI, and tie your deliverable to business results that you know the executive is focused on. But be prepared with all the supporting data for questions.

Scott’s motto here:

  • Get the analysis to the
  • Right person at the
  • Right time……to Support the
  • Right decision

Be a Salesperson

Build a competitive intelligence brand in your company with a logo and a name to your group that everyone can easily identify with. While many in competitive intelligence have this stealth mode for what we do, we need to be more outgoing in order to be seen and heard. Scott had a catchy name for his CI group at Prudential, PruView.

If you aren’t good at selling, find champions who are. Ideally they should have some skin in the game, that is rely on you for good work. Ideally these champions should be senior, vocal, CI smart and committed.

I recall when I was at Bell Atlantic, now part of Verizon, I gained a VP of Sales as my champion. I didn’t realize he was testing me when he sent me on what I thought was a wild goose chase to lead a competitor response analysis in a highly political RFP that our sales folks had already answered. What would be the value of this, I thought as I drove to their site with very little notice.

The sales team thought if we didn’t win, AT&T would. There were two other competitors: Rolm (now part of Siemens) and Nortel. They didn’t think either of them had a good chance to win the business. I thought that Rolm had the best chance to win as this was a university, and Rolm was owned by IBM, who manufactured PCs at this time. They could sweeten the deal through discounted PCs, which were very expensive then. Rolm won the business for the reason I had suspected, and the Sales VP became my champion.

Provide Insights

  • Focus on what they need and keeping asking “so what” until you get to this.
  • Also get them to think about, “What’s the cost of inaction?”

Happy Thanksgiving to all who celebrate it.

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Competitive Intelligence Software Integrated into Salesforce.com

Compelligence recently introcompelligenceuced the Compelligence App which is competitive and market intelligence software that integrates seamlessly within Salesforce.com. It builds off the strengths of Salesforce.com in that it helps sales close more deals since it extends the reach of Salesforce.com to include data from the competitive marketplace.  Armed with this information at their fingertips, account reps have even more time to sell. Typically, sales people and others populate the fields at various points in the sales cycle, most notably at the conclusion of the sale in conjunction with reporting results in the Salesforce.com world. This information is shared with the sales force, but can also arm marketing and competitive intelligence personnel with current information about customers, competitors, suppliers and partners as well as market trends. The Compelligence solution enables sales teams to win competitive deals faster by providing them with on-demand, customized sales strategies that are tailored to each deal.

The Compelligence App is the only app on the market that can provide sales people with customized competitive sales strategies directly within Salesforce.com.  By simply specifying the products or services that a customer is considering, the sales person is given guidance that includes:

  • Detailed competitive product or service comparisons
  • Highlighted strengths and weaknesses
  • Competitive sales positioning guidance
  • Access to relevant content and news

When I interviewed Mitch Emerson, Compelligence President and Co-Founder, he said, “We really believe our strongest unique capability is Dynamic Comparison, where we can determine relative strengths/weaknesses between sets of specified products or between products and the rest of the industry in general.  We are building this into a feature that will allow the system to create customized silver bullet lists for each sale.” Anyone who has sold or supported sales knows that silver bullets are what sales people crave, and they do help them close deals.

Mitch Emerson

Mitch Emerson

When I first read about this Compelligence App I thought, “Finally, a nice place to park the results of win loss interviews and the analysis in a place where sales, marketing and product developers can access it right in salesforce.com, a software they already know and use.” My customers have been screaming for this capability. Compelligence captures so much more, such as data from suppliers, partners and how the various players are positioning themselves in the competitive marketplace. Not only will Sales win more deals and improve retention rates with existing customers: product developers, marketing and competitive intelligence people will be armed with a real-time flow of data from customers and sales people that previously was not shared dynamically at best, and in many cases not shared at all.

The Compelligence solution is being used at Hill-Rom, a leading worldwide manufacturer and provider of medical technologies and related services for the health care industry. Another customer is electronics manufacturer, Jabil. The product is in beta trial at a major financial services company as well.

Compelligence’s CI software is available as through the Salesforce1 App exchange. You can walk through the demo and take it for a test drive.

Put your request here for a more detailed walk through with the Compelligence team. Mitch Emerson or one of his staff will provide the demo and answer your questions right on the spot.

Why I like Company Transparency in Win Loss Interviews

Transparency

Transparency

Why is it that companies don’t want to disclose who they are in win loss interviews? Is it fear? Transparency versus blind win loss interviews is a question that plagues many in marketing.

Many feel if they don’t identify who they are, they’ll get a more objective interview. They are also afraid if they let the customer know who they are—especially when they lost the business—the customer won’t take the interview or if they do, they won’t tell much. A third common reason is they don’t want their sales force to know that they’re conducting these interviews since some of the questions assess the effectiveness and quality of the sales force.

Do these reasons make sense? Let’s explore each separately:

Get a more objective interview: I don’t find that interviews are any more objective when the company’s identity is blind. People are opinionated period. When you conduct blind interviews, where the client doesn’t know the identity of the company behind the call, they usually can guess. So often, it’s the market leader who is going to take the time and has the resources to research deeper. Often enough there are only 2 or 3 companies competing for the business. Customers are not stupid. While they may not let on that they know who is behind the call, they usually figure it out sooner or later.

Sometimes those I interview try so hard to get me to tell them who hired me to telephone them. When they think they know, then they’ll start sharing more. It’s an ego thing: they want to know who is asking. I think it’s also decency: they deserve to know.

Rather than feeling threated by identity disclosure, smart companies realize that a win loss interview is another marketing touch point, even if it’s conducted by a third party. It’s an opportunity for connection with customers and prospects to let them know you value their business enough to ask and listen to what went right and what went wrong, and then take corrective action.

If the customer knows the company which is behind the call, they won’t agree to an interview: I have found that just the opposite is true, even when Sales botched up the deal or it was won by a caustic competitor. Even if another service provider won the business, people will agree to an interview, unless they don’t have time. Time is the biggest enemy to getting the interview, not company identity!

Don’t want Sales to know we’re checking up on their customer relationships: This is one I just don’t get in a society where we are surveyed to death. Even after a cashier rings up a sale in a retail store, they ask us to fill out a survey on the Internet on his or her performance. It’s ridiculous: how can we assess the performance of this person when we barely had a touch point!

However, responsible companies that have a direct or indirect Salesforce and want to keep winning deals for the right reasons, should want to know how effectively and professionally Sales is representing their company and its products and services. There is a relationship here to protect, and you want to keep it ongoing. Too bad if Sales doesn’t like the win loss process.

You come out ahead if you are straight with Sales and let them know you follow up on some sales events. In fact, I like to involve Sales in creating the questions to ask customers. I get better questions and they feel less threatened since they are part of the planning process. Likewise if you share customer communication with Sales, they have an opportunity to learn what they are doing well and their shortcomings. They can feel good about what they do well, and can make improvements where they are weak.

I still like how Rick Marcet, author of Win/Loss Reviews: A New Knowledge Model for Competitive Intelligence, considers the win loss analysis process to be an advanced sales skill. Responsible sales people want to know how they’re doing. They want to improve and close more deals. In fact, best in class companies let their customers know that as part of the sales process, they may be contacted post sale for a win or loss interview as part of doing business.

The Why, What & How of Win/Loss Analysis

win loss imageA week ago I delivered an IntelCollab webinar on win loss analysis, and have now posted my win loss analysis slides on my Slideshare account. At the conclusion we had time for a goodly number of questions, which I have recapped below. For those who are unfamiliar with win loss analysis, it is the process of interviewing customers and non customers, usually over the telephone, as to why they chose to do business with you or another service provider. You tally up the results of these telephone interviews, and provide quantitative and qualitative analysis based on what you learned from the interviews. It is my favorite tactical competitive intelligence practice since you learn so much from these short interviews, much of which you can take action on almost immediately.

How do you validate that you are talking to the right person, the decision-maker for the win loss interview? I usually get the right connection at the customer’s company from the company’s sales force, who usually knows the decision-maker. If I am not talking to the right person, I can usually tell. They are uncertain of how to answer my questions, and they are happy to tell me who the right person is, on the rare occasion when that happens. Sometimes the decision-maker has left the company. Those are some of my favorite win loss interviews since their replacement must live with another person’s decision, which perhaps might have been different had they been the decision-maker.

I am just starting a win loss process: are there some tips you might share about how to set it up? First I find out what Sales is already doing, and build off of it. Many sales forces do some abbreviated form of win loss through automated systems like Salesforce.com. You will save yourself a lot of time by working with Sales. Note Sales’ culture: how responsive will they be to this win loss interview process? Will they feel threatened? How will you sell them on the benefits? Usually they will win more deals armed with better knowledge about why customers buy or don’t. That usually works. They also need to clearly understand that you are working with them, not behind them. They are not going to lose their job based on what you uncover. You are not going to undermine any customer relationships they have developed. You are another customer touch point, and most customers are happy to participate. On occasion, I have uncovered new marketing opportunities from win loss interviews. Sales people love this. That said, win loss is not for everyone. Sometimes your customers don’t want to be queried.

There are 5 minute surveys and there are win/loss interviews. How long should the win loss interview be? I like to limit these interviews to about 20 minutes although sometimes they go for a half hour. People are too busy today for much longer. You need to get all the relevant information from Sales before the interview: how they left it with the customer, who won the business, why they think the customer decided the way they did, and who else competed. That way you don’t waste the customer’s time with these small questions. You can get right to the meat of the interview, which they really appreciate.

My sales force is resisting my efforts to interview customers when they lost the business. How can I bring them around? This is usually not so tough, unless this loss of business is part of a bigger piece of business from that customer. Even so, Sales has only to gain if they are armed with why the customer decided on a competitor or made no decision to upgrade your company’s software, for example. Your sales person will be armed with a better approach to use with other customers who are considering your solution, from your win loss findings. Sometimes I find out the customer is considering my client for another piece of business that Sales doesn’t know about yet. Another way to bring Sales around is to make sure to interview customers where they won the business. It can be depressing to Sales if all you interview is lost business. You are also missing out on a great opportunity to learn about how your company treats its customers from implementation moving forward, which is absent when all you interview is lost business.

Sometimes Sales won’t acknowledge that a deal is actually lost: how do we contact these customers? I suggest that you don’t contact customers until the deal is clearly won or lost for win loss analysis. There are certain touch points along the way in the Sales process where you engage with customers, but that is for another discussion along the lines of pre-sales due diligence.

What is the best model for conducting win loss analysis? Should internal people conduct the interviews or should they all be outsourced to a 3rd party? What are the strengths and weaknesses of each approach?

Either model can work. Here are some of the plusses and minuses of each.

Internal people are already on the payroll, so that keeps the cost down. No one knows your company’s culture, industry, products and services like employees do. This helps when it’s time to probe for additional details around product features, for example. A consultant, unless they worked at your company quite recently, will not have all that company understanding. They might have the industry experience or can learn enough about your industry to make these phone calls. I have a checklist of things I ask a client to share with me so I can learn the industry; the sales process; and how to organize a win loss process quite effectively since I have done these since the late 1980s. Most internal company employees are not so organized with this process in my experience, but they sure have the product and sales knowledge.

Your customers are usually more open to telling a 3rd party all the reasons why they chose to do business with your company or not. Somehow they are more at ease sharing with a 3rd party. In fact, I find in some cases they actually almost gush with all that they share. Consultants that do a lot of these win loss interviews are skilled at getting people comfortable with sharing. In my practice we teach elicitation skills, and use them quite effectively during these interviews. Consultants will charge a fee to conduct these interviews and to analyze the findings, so you need to have money in the budget. Consultants often find things and pull things out of these interviews to analyze that your internal people won’t think about, since this is not what most internal people do most of the time. The consultant also doesn’t have your company cultural blinders on, which is helpful both in conducting these interviews and writing up the analysis.

I notice that I am most valued by companies who are just considering a win loss process; have never done it before; don’t know how to organize it or how to explain to Sales what this win loss process means to them; and why it’s a good idea. When I walk in with my process and organization, I notice it’s most appreciated.

Win/Loss Analysis book gives you a process to learn why you’re losing business and how to keep more of it!

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Improve Your Win Loss Analysis Skills: IntelCollab Webinar

Ellen Naylor & Arik Johnson

Ellen Naylor & Arik Johnson

I have been doing competitive intelligence since 1985. Win/loss interviews and analysis, are still one of my favorite tactical collection techniques. This is a low cost form of primary collection which always provides a high return for improving your company’s bottom line. Who better than your customers and those who decided on a competitor to tell you what you are doing well and what you need to change?  I have noticed that actions taken from win loss analysis are particularly effective at improving customer retention. Retaining customers is more economic than obtaining new ones.

Yet many companies still don’t include win loss analysis as part of their sales process:

  • They think they are conducting win/loss interviews, and they aren’t. Sales fills out a few reason codes for the win or loss, and that passes for win loss analysis…NOT
  • Sales doesn’t want any part of this process since it challenges their egos and they fear this customer connection by an outsider will jeopardize their customer relationship
  • The company doesn’t want to change how it’s doing business. Win/loss analysis provides ammunition around behaviors, product features, and so much more, which if changed will improve sales results
  • Ignorance. Some companies have no idea how much valuable information their customers/non customers will share, if only they ask.

What are the traits of someone who masterfully conducts win loss interviews?

#1 Be organized. Make sure you have all the relevant facts around the sale or lost business, before you dial. Share your process for conducting win loss interviews with those in marketing and sales who need to know. They need to understand why you are calling their customers, how this process works, and that this form of communication is not a threat to their livelihood. On a cooperative note, include their good ideas in win loss interviews to their customers/prospects.

#2 Be grounded before you dial. I take some deep breaths, and think, “I want this person to feel better about themself at the end of our call than they do when they pick up the telephone.” Intention is powerful and people sense this immediately, and tend to engage unless they’re really tied up.

#3 Be sensitive to those you’re calling. Make sure you are calling at a good time. I can always tell without asking since they’re usually agitated when the time is bad. Be punctual and stick to the prearranged length for the call unless you sense they are in the sharing mode, and you don’t want to interrupt their flow. Often they are venting, and I would rather they vent to me than to their sales rep.

#4 Find that balance between professional, curious and somewhat playful. This is a fine line. People enjoy sharing with people who are interested in them, and at the same time don’t take themselves too seriously. Most people like a little humor. I find that just smiling as I am speaking on the telephone leads to more sharing on the other end.

#5 Be persistent. We conduct these interviews over the telephone, and many people view telephone conversation as an unwelcome interruption to their work flow. You need to figure out the best way to get that person to pick up their phone and engage with you. I start by creating a compelling email to get their attention, and then follow up with those who don’t respond, however it best makes sense. It’s different with everyone, so follow your intuition. In some cases, they don’t want to connect, so let it go. In other cases, they will say they have very little time, and once they start talking, you almost have to cut them off.

#6 Be a good listener, but guide the conversation. This is a most important trait for all collection conversations. Lay aside your ego, and let them broadcast theirs.

If you want to learn more about the value of conducting win loss analysis; how to do it; and what you can expect to learn, please join host, Arik Johnson, Founder of Aurora WDC, and me, President of The Business Intelligence Source, on September 4 for a webinar at Noon Eastern US time.  It’s free to attend. Details including sign-up here. I will speak for a half hour, then we will open up the discussion to you.

Get your free copy of the most comprehensive list of competitive intelligence books with links to purchasing them. One of my favorite books on win loss analysis is Win Loss Reviews: A New Knowledge Model for Competitive Intelligence by Rick Marcet.

Be notified when our book, Win/Loss Analysis: How to Capture and Keep the Business You Want is published.

Cooperative Intelligence: Kindness in Competitive Intelligence

George Saunders

George Saunders

Earlier this month several sources including Tom Peters and The NY Times publicized What I regret most in my life are failures of kindness. This was author, George Saunders‘ key point in his graduation remarks to students at Syracuse University. There is some validity to Huffington Post Mitch Joel’s remark, “We go to work and turn from kind loving family members, friends and community citizens into military generals who use warring terms to get through the work day (“let’s crush the competition!”).

There has been a lively discussion on the Association for Strategic Planning’s-ASP-LinkedIn Group around the conflict between the profit motivation in business and kindness based on Mitch’s article, “In Business, You Can Still Be Kind.”

Jim Sinegal

Jim Sinegal

Kindness comes in many flavors. I feel Jim Sinegal, former CEO and Founder of Costco, was a kind leader with a longer term outlook for financial profitability, growth and relationships. He put into place kind practices to employees and customers, which over time have benefited stockholders. Costco takes good care of its employees financially and has more of a big brother culture. They pay employees well above the minimum wage that the competition pays, and provide decent health benefits. Recent customer surveys place Costco among the top companies in America.

No, I don’t think there needs to be a conflict between kindness and good financial results. That more gruff, “I gotta win at your expense mentality,” does proliferate many business deals and corporate cultures, but it doesn’t need to.

That’s how I came up with the idea of cooperative intelligence almost 10 years ago. I heard colleagues in the competitive intelligence world complain that senior managers would not listen to what they shared. They ignored their good advice around the competition, the competitive landscape, disruptive technologies—all the good stuff they collected.

Cooperative Intelligence: Leadership

Many had not figured out how to give executives the information and tools they needed to make the decisions at hand or perhaps in a format that executives could devour. It’s back to having an attitude of kindness. Rather than pushing out what you think is “good stuff”, have conversations with executives to find out what they need, when they need it and why they need it. Sounds simple, but it’s not especially in large companies, since everyone else is vying for senior management’s attention.

So you need to be patient, and serve those people in your organization who more readily appreciate and understand competitive intelligence. Don’t worry, over time, the executives will find out about your good work.

Cooperative intelligence is kindness: you give without an expectation of something in return. People realize that you genuinely want to help them in their work. After all, competitive intelligence is a support function. You need to keep giving, and eventually those you support will provide you with great tidbits on the competitive environment since your giving is infectious, and they just can’t help themselves. This has been my experience in setting up competitive intelligence programs since 1985. People are attracted to you by your good example of producing the goods they need and your giving attitude.

Cooperative Intelligence: Connection

Part of cooperative intelligence is realizing than anyone you meet can be a valuable contact, and you make each person feel that way. You make them feel like they’re the only person in the room that matters as you listen to them intently and ask good reflective questions so they know you’ve heard. This is a great way to build your network, and it works well provided you have the discipline to stay in closer touch with those who are immediately relevant to your work.

Cooperative Intelligence: Communication

Cooperative intelligence also includes good communication skills. The most important communication skill is the ability to listen with an open heart without judgment and to be entirely present. In conversation, many of us interrupt others as they are speaking, and can’t wait to make our point. The other person is painfully aware from seeing or feeling our impatience as we eagerly await our turn to speak.

If we listen fully to what others say, we often notice things they haven’t shared in words, and their body expression tells us more. Good listeners wait patiently for the other person to finish what they are saying. They trust and truly receive the words of others, and realize that sometimes people don’t require a reply, they just need to be heard. They listen intuitively and kindly.

A second cooperative communication skill is to share what you learn with those in your company in the format and frequency they are comfortable with. This encourages them to open up and respond to your emails or whatever form of communication you agree on. You also need the judgment to realize when something is so important that you need to break the rules and get it to the person as expeditiously as possible.

While competitive intelligence is not a kind business function, it is a forward looking and necessary discipline, and we can be kind people when we bring cooperative intelligence practices into our work.

Reach out to people for the best & most real-time intelligence

Welcome to another episode of CI Life. In this episode, we’re going to tackle a subject that I think is really important, for basically every CI team that works inside a company. Especially a larger company. Which is the role of internally oriented human intelligence.  And by that we mean, talking with someone versus searching the Web.

Ellen Naylor‘s insight:

Many are too focused on what they can find from “big data,” the Internet and social media–which anyone can have access to who has time and money. If you want to learn what’s really happening, you need to talk to human beings on a regular basis, not just for competitive intelligence, but for anything in life that you care about such as my newfound hobby of birding and my new passions, nutrition, health and wellness. For those who don’t know I am studying to be a health coach at the Institute for Integrative Nutrition and I am now half way there at 22 weeks into the program!

I can read a lot about all of these topics on the Internet, and particularly gather great information from Facebook, LinkedIn, Twitter and other social media like Slideshare. However, I gain the most valuable insight, more expeditiously by engaging in conversation with a few people in my vast network of wonderful friends and colleagues.

I have been doing competitive intelligence and research since 1985 and having strong people connections is something that simply does not change. I think it’s even more important today to be connected to people, both inside and outside your company, since that is your competitive advantage. With the high turnover in many companies, it’s even more important to make a connection with new employees who have valuable knowledge.

My friend and colleague, Babette Bensoussan wrote a succint article about “Big Data does not make you smarter.” Babette reminds us that it’s the questions we ask based about data we read, and questioning the assumptions, hypothesis or bias we have, that gives us our competitive edge.

Find human sources to connect with both inside and outside your company by checking out this visual PDF to get you started with your communication reach. Happy connecting!

See on http://cascadeinsights.com/ci-life-35-humint-inside-the-4-walls/

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