What’s the Single Most Unique and/or Different Change in CI/MI Orgs that TBR Has Observed in 2023?
Doing more for less can take many forms, but based on our conversations with CI/MI profiles, we believe there are three key ways teams can do more with less in 2023
The biggest change for CI/MI (competitive intelligence/market intelligence) in 2023 is the intensification of the “do more for less” mandate. Doing more for less has always been part and parcel of the CI/MI experience, but it’s particularly true in 2023.
Macroeconomic conditions are prompting technology vendors to maintain or trim CI/MI headcounts and budgets and make do with currently available resources. At the same time, CI/MI has never been more strategically vital to organizational success, creating consistent demand for strategic and tactical CI/MI support. There’s an emphasis on quantifying the value of CI/MI deliverables.
We see this trend materialize in CI/MI requests for deeper data and insights on existing competitors, as well as extended coverage of Tier 2 and Tier 3 emerging competitors, players in adjacent industries, and ecosystem partners. Merely drawing on public resources is no longer sufficient, particularly given the CI technology platforms available, and direct-from-field customer insights on competitors are considered a requirement.
How can CI/MI respond to the ‘do more for less’ mandate?
Doing more for less can take many forms, but based on our conversations with CI/MI profiles, we believe there are three key ways teams can do more with less in 2023:
- Leverage technology: CI/MI platforms can help you automate the recurring tasks associated with insights collection, freeing you up for higher-value tasks. Conversational intelligence and related tools provide access to direct customer insights to amplify the quality of your CI/MI deliverables. In a not-so-distant future, generative AI platforms will further augment CI/MI.
- Establish a CI/MI value program: Engage with your CI/MI stakeholders to understand what deliverables are truly valuable, and quantify that value. Identify areas where you may be able to reduce or minimize produced under-leveraged deliverables.
- Partner with third parties: Third-party analyst firms, competitive intelligence agencies, win/loss providers, and other partners in your MI/CI ecosystem have access to data and resources you likely do not, which will solidify your ability to do more.
