The best competitive intelligence programs are proactive, meaning they identify threats as soon as they begin to emerge and enable their sales teams accordingly.
That sounds pretty straightforward—so why do so few CI programs meet this standard?
Because to be proactive, you need data. More specifically, you need answers to questions like:
- Which competitors are entering our sales opportunities at an increasing rate?
- How can we neutralize these emerging threats?
- Who needs support against these emerging threats, and who can help me deliver it?
If you’re like most CI practitioners, you do not have access to/proficiency with the tools that can help you answer these questions (Gong, Salesforce, etc.)—which leaves you with two options:
- Ask a busy coworker to pull reports for you. This is a poor solution because (a) it takes a long time and (b) it solves the access problem, but not the proficiency problem. How will you connect the dots across multiple reports from multiple tools?
- Guess the answers. This is a poor solution because you’ll probably be wrong, leading to subpar content, loss of trust, and low adoption.
But guess what: All of this is moot. Your lack of access to/proficiency with certain tools is no longer a problem—because today, Crayon is launching Competitive Performance Insights: everything you need to protect your market share by transforming your CI program from reactive to proactive.
With Competitive Performance Insights—powered by the holy triumvirate of Crayon, Gong, and Salesforce—you can identify:
- The competitors you need to focus on
- The keys to beating these competitors
- The sellers who need support AND the sellers who can help deliver support
Let’s walk through each of these.
The competitors you need to focus on
Gong’s tracking capabilities are unmatched. All you have to do is submit the name of a competitor (plus some key terms associated with that competitor) and Gong will notify you whenever a customer mentions them on a call.
Very powerful stuff. The only shortcoming is that there’s no way to see, at a glance, which competitors are getting mentioned most often and how this is changing over time.
That’s why part one of Competitive Performance Insights is a weekly recap email that looks like this:
For each of the 3 competitors who are mentioned the most in a given week, you’ll see:
- How many times they were mentioned (and how this compares to the previous week)
- Links to the calls where they were mentioned the most
- The sellers who encountered them the most
With this weekly recap brought to you by Crayon and Gong, not only can you identify competitive threats as soon as they start to emerge—you can also start to get a sense of which sellers need your support. More on this later.
The keys to victory
A once non-threatening competitor (or group of competitors) is starting to make some serious moves? The first step to stop them in their tracks is determining why you’ve won and lost against them in the past—which is done automatically on your behalf by Crayon and Salesforce:
This piece of Competitive Performance Insights (along with the next one) is at your fingertips in your Crayon portal. Whether you can log into or make sense of Salesforce is irrelevant—there’s no need!
With instant access to the reasons you’re winning and losing deals—which you can slice and dice by time period and competitor/competitor set—you can support not only sales, but other stakeholder groups, too. Losing way too many deals to your top competitor because of functionality? Bring that data to your product leaders!
The sellers who need support (and the sellers who can help)
You’ve identified the threats that need to be neutralized and the reasons your sellers have had success against them in the past. The final piece of the puzzle is identifying the sellers who are struggling against these competitors and connecting them with the sellers who are thriving.
This information is also at your fingertips in your Crayon portal:
Look at the loss leaderboard to determine who needs support, and look at the win leaderboard to determine who can help you deliver that support—easy as that!
See for yourself
A reactive CI program is a doomed CI program. The trust of your sales team is the fuel that keeps your program going, and if you’re constantly scrambling to pull together materials on competitors that are already doing damage, you’ll find yourself stalled on the side of the road sooner rather than later.
The key to success is being proactive, and the key to being proactive is data. With the release of Competitive Performance Insights, Crayon has unlocked that data in a way that no other CI software solution can. To see for yourself, schedule a demo of Crayon today.
Related Blog Posts
- It’s a Three-Peat: Crayon is Once Again Named the PMA Pulse Leader for Competitive Intelligence
- Crayon and Primary Intelligence Develop a Market First Integration: Sellers Now Automatically Have the Win-Loss Insights they Need to More Close Deals
- Podcast Episode: A Practical Guide to Competitive Intelligence
- The 8 Free Market Research Tools and Resources You Need to Know
- How to Measure Product Launch Success: 12 KPIs You Should Be Tracking
- How to Create a Competitive Matrix (Step-by-Step Guide With Examples + Free Templates)
- The Definitive Guide to Win/Loss Analysis: How to Gather, Analyze, and Act On Win/Loss Data
- 5 Product Launch Examples That Are Worth Studying (+ Tips for Success)