You may understand why buyers buy, but do you have insight on why sellers sell?
Illustration: Apple Vendor by Barbara Stevenson, 1934; via Smithsonian Museum of American Art
Past columns on this Thought Leader Zone website have looked at the difference in meaning between competitive intelligence, competitive information and market research (see here and here). On the main site for the official Society of Competitive Intelligence Professionals (www.scip.org), you can also find a series of humorous articles that look at the ”lighter side of CI.” (Find the links at the end of this post).
As a quick reminder, competitive information includes published or well-known facts; while competitive intelligence includes information, facts, trends, opinions or analysis that nobody else has. That’s what makes it so valuable and properly utilized, competitive intelligence can give your business a real competitive edge.
Whereas market research helps you better understand why buyers are buying, competitive intelligence and information can give you insights into why sellers are selling.
Do you as a thought leader know why buyers are buying and why sellers are selling in your industry? Do you have a clear view of your marketing landscape? What’s your CIQ? Ask, assess, then act. We’re here to help!