Competitive Intelligence and Market Research in IT: How to Apply it in IT Companies and SaaS Startups
Competitive Intelligence and Market Research in IT: How to Apply it in IT Companies and SaaS Startups
This presentation was given by Corelia Kostovic, Digital Strategist & Market Analyst, during the first edition Women Techmakers in Montreal in March 12st. One of the reasons why SaaS startups fail to convince investors is because they underestimate the competition. Prior to and throughout the investment process, investors are constantly challenging entrepreneurs so they can master their market, from building their customer base to outmaneuvering their competitors, to ensure the success of their product. In the mean time, startups enter the market and disrupt traditional stakeholders. Established IT companies are fundamentally challenged as well, and should be keenly aware of these startups' activities to evaluate if they are a serious threat, or an M&A opportunity. Therefore, innovation is the greatest pressure faced in IT, because it defines our competitive advantage in terms of product strategy and customer satisfaction. Competitive Intelligence (CI) and Market Research (MR) are key methods to: - understand your customers' expectations: key buying criteria, buyer persona,…; - anticipate your competition: "killer features", buyer preferences, developer interviewing,…; - keeping an eye innovation: patents, trends,… The goals of this conference are to: - Introduce different methods in CI and MR; - Give you the keys to apply it clearly in your company; - Share external case studies (including Amadeus IT Group, and Montreal-based companies); - Share our internal case study at CleverToday.
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Competitive Intelligence and Market Research in IT: How to Apply it in IT Companies and SaaS Startups
- 1. Competitive Intelligence and Market Research in IT How to Apply it for IT Companies and SaaS startups Corélia Kostovic Digital Strategist, Market Analyst CleverToday
- 2. My surprise when coming to Québec Competition is not really considered Few data are available (sales, capital, etc) Companies don’t really keep an eye on their own online reputation or comments
- 3. But IT companies in Quebec want to be more competitive... 1. Adopting a competitive and scalable tax environment 2. Optimizing business processes and treatment of tax measures and tax credits 3. Supporting distribution and export http://www.aqt.ca/fr/laqt-presente-ses-recommandations-pour-que-les-entreprises-dici-cessent-detre-penalisees-face-leurs “Recommandations for local companies to stop being penalized by their main Canadian and international competitors”
- 4. Indeed, nobody lives in a vacuum. Ever.
- 5. What is Competitive Intelligence?
- 6. Competitive Intelligence is not... only about competitors only for big companies just a one-time study
- 7. Competitive Intelligence is a methodology
- 8. Competitive Intelligence is a mindset
- 9. Use all the information available around you Sources Human sourcesPublic instituti. Biz press Internet, social media Deep Web Patents Source code
- 10. Share all you know with sales, dev, managers,...
- 11. Why is it so important in IT? (1/ 2)
- 12. Why is it so important in IT? (2/2) STARTUPS Convince investors Quick responding competitors LARGER COMPANIES Anticipate market change Prospect M&A opportunities Bigger competitors
- 13. Then, how about Market Research?
- 14. The best clue is THE USER DEMAND USAGE TIMING
- 15. Market research techniques in IT FOCUS GROUPS ONLINE SURVEY CONCEPT TESTING QUALITY FUNCTION DEPLOYMENT LEAD USERS PROTOTYPE TESTING CUSTOMER VISIT EMPATHIC DESIGN
- 16. What often goes wrong with new techno?
- 17. Then, combine Competitive Intelligence and Market Research results
- 18. How do the others perform CI?
- 19. Amadeus IT Group and innovation analysis
- 20. How about us?
- 21. How we collect information for internal purposes For the sales team: ● Strategic networking events ● Who is making business with who (Agencies mandates) ● Due diligence on serious prospects For programmers: ● Key market indicators on a product, a competitor or a technology
- 22. How we decided not to invest the APM market Monitoring solution prototype developed internally: We did: ● Study the APM market ● Select the right sources of information to get trends (APM Digest) ● Test competitors product and pricing ● Read documentation
- 23. A special message to women
- 26. Merci :-) Corélia KOSTOVIC Digital Strategist corelia@clevertoday.com 514-582-7880