On this episode of SBI TV, Matt and Marc Osofsky, CEO of Aberdeen, demonstrate the importance of Market Intelligence.
Why is this important for your company?
Many companies are flying blind, and this is especially true with B2B companies. Company leaders are forced to reactively respond, rather than proactively guiding their teams to a higher level of success.
Segment 1: Evaluating Market Intelligence
- The importance of measuring performance relative to the market. minute 4:37
- Core KPI’s that everyone should be using. minute 6:55
Skip to minute 7:51 when Marc gives three core KPI metrics that will have the most impact on your company:
“The first metric is awareness, a fundamental challenge we all face. The second one is consideration. So the company is aware of me, they know what I do, are they considering me for opportunities? So that’s the key. If you can’t get there, you can’t win. Number three’s the ultimate measure of how you’re doing, which is market share. …”
Segment 2: Making Key Go-to-Market Decisions
- The key decisions that market intelligence allows people to make. minute 11:58
- How market intelligence allows for more thoughtful positioning against competitors, and how marketers and CEO’s are driving it into their business. minute 13:03
- Companies are making market decisions without go-to-market intelligence. minute 16:17
Listen to minute 14:32 to hear Marc discuss win-loss and the positive outcomes it can create.
“If I know demand buy segment, if I know my share, if I know how a company perceives me relative to competitors and then I look at win loss and really understand that the sales execution messaging intersection on a deal, then you have all the parameters to really understand what dials to turn…”
Segment 3: The Top Market Intelligence Tactics
- Thinking about market intelligence relative to your current tech stack. minute 17:12
- Leveraging certain types of marketing automation software, market data, and AI. minute 19:24
- Mitigating churn and being more predictive relative to customer success and retention. minute 21:24
Skip to minute 20:21 to listen to Marc explain how Aberdeen distinguishes itself from marketing automation tools:
“In my past life I did have the pleasure of working with Google, Amazon, Facebook, Apple as a provider of data into all of their AI initiatives. And one thing that I learned from that is that the future of AI and machine learning is all about data. It’s not the algorithm. The algorithm layer is mostly all published, public, and open source, and so the big companies in the space are differentiating on the data they have and they’re capturing and that’s the key. Companies need to think about that, I think companies have gotten a little distracted on AI and machine learning on the shiny objects, but it’s the data that’s really the power…”
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