Market & Competitive Intelligence Targets
Based on the fulfillment of these intelligence requirements the market & competitive intelligence unit needs to define clear targets and act upon them. Business goals for intelligence programs, just as much as any other business targets will have to be communicated properly for mutual agreement and sign-up. An Intelligence Communications Plan has to be put in place and shared with corporate and marketing communicators and managers.
Defining clearly measurable targets for any business environment in terms of tangible intelligence impact can be very challenging. While simply counting intelligence users or numbers of produced intelligence reports and studies can not be an exhausting measure it might provide a base line for usage trends.
As a more impacting measure, influencing the bottom line in terms of profitability in any given company or operation, avoiding duplication of reports acquisition and consultant fees for targeted studies and analysis can be a rewarding measure. Knowing which industry and market reports are acquired where and used for what and by whom, might indicate overlaps and money waste right there.
Once a complete overview (intelligence inventory) of existing intelligence is established and all intelligence is being fed through a clearly defined depository, market intelligence users could be measured in time savings and productivity increase for reduced seeking time for reports and discussions as well as reduced cost for consulting.
Online subscriptions of multiple users and combined accounts could result in a measurable saving as well as increased negotiation power towards consultants and institutes for mostly expensive studies and analysis. Avoiding duplication in this area could be a great savings potential and thus an internal selling point.
