Competitive Intelligence Best Practices

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Competitive Intelligence Best Practices

• Matt Bennetti, salesforce.com
• Cathy Bensink, Tandberg

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Matt Bennetti
Senior Product Marketing Manager
mbennetti_at_salesforce.com
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Agenda

• Salesforce.com Overview of Competitive
  Intelligence Best Practices
• Why? Where? When? How? What?
• Tandberg Improving Competitive Win Rates Using
  Salesforce.com
• Closing

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Why Track Competitive Information?

• Understand key strengths and weaknesses in your
  product or service
• Understand where to focus training resources and
  create support tools
• Improve Sales Effectiveness
• Improve Marketing Effectiveness

• Take market share away from competitors

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Where do I track Competitive Information?

• Opportunity Level
• Custom Fields Primary Competitor, Reason For
  Loss, Current Competitive Status

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When do I Track Competitive Information?

• During the Deal
• Alert managers to at risk deals
• Deliver timely competitive Information to sales
• Keep competitive intel up to date
• Create FUD about competitors in the mind of
  prospects

• After the Deal
• Identify successful sales strategies
• Required fields to track reasons for loss
• Evaluate competitive trends/win rates

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How Can I Make Competitive Intel Available?

• Scale Empower Sales to research competitors
• Docs tab enables security on sensitive information

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How Do I Improve Competitive Visibility?

• Dashboards and reports improve strategic insight
• Identify pipeline trends
• Find key wins and losses for review

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What Benefits Will I Get?

• Track wins against competitors and share
  effective sales tactics globally
• Examine losses and share product/service
  deficiencies to improve company competitiveness
• Track win rates versus individual competitors and
  pipeline presence to identify trends and make
  strategic decisions
• Track sales performance versus competitors and
  train more effectively

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Recommendations

• Start simple, with clearly defined goals
• Embed competitive strategy into sales methodology
• Analyze wins and losses
• Deliver strategic feedback to the line of
  business
• Sales
• Product Management/Engineering
• Marketing

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Tandberg Video Conference Leaders

• From our roots as a Norwegian radio factory and a
  pioneer of videoconferencing technology, TANDBERG
  is now a global leader in the communication
  industry.
• Videoconferencing is part of a 4-5 billion
  dollar real-time collaboration market that
  includes audio, video, and web conferencing
  products and services.
• TANDBERGs current market share for Endpoints
  Globally is 37

• Key Salesforce.com Statistics
• 400 Users Globally
• Enterprise Edition
• Started in May 2002 in the Americas 2003 Asia
  Pacific 2004 EMEA
• Operate as 3 separate theaters

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Business Challenge

• Increase Tandbergs Market Share
• Attack Competitor Dominated Accounts
• Improve Our Strategic Selling Processes
• Extract Best Practices from our Wins
• Deeper Pipeline Analysis

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1. Attack Our Competitions Accounts

• Solution Cornerstone Territory Planning
• Formalize territory planning process by targeting
  companies with 500 Million Dollars a year in
  sales
• Account Managers Vote on 30 accounts they are not
  working on, and answer basic sales profiling
  questions
• Profiling information drives sales strategy,
  planning, and tracking

Profile Information worksheet includes
competitive information
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2. Improve our Strategic Selling Process

• Solution Imbed Sales Strategy In Salesforce.com
• Account Managers focus 10 of the 30 Cornerstone
  choices in SFDC
• Hoovers data services to help with Account
  research
• Strategic Account planning with Sales Management
• Targeted Marketing Campaigns
• Implemented Sales training, coaching and
  methodology
• Customize account page layout to reflect sales
  methodology

Competitive information tracked on the Account
detail
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3. Extract Best Practices from Wins

• Solution Marketing Reference Database Custom
  Object
• Why did the customer choose Tandberg?
• What product is purchased?
• Who was the competition?
• Deal Size, Vertical Market, Application, Partner
• Length of time to close the deal
• References

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4. Deeper Pipeline Analysis

• Win/Loss Analysis
• Where is our sweet spot for wins? (i.e. number
  of employees, annual revenue)
• Where can we improve?
• Top 100 Accounts that make up verticals where we
  are strong
• Review pipeline to determine deals we are working
  on and how to move them up through the pipeline.
  
• Future marketing investments where should we be
  spending marketing dollars?

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Recommendations

• Integrate competitive strategy with selling
  methodology
• Involve sales teams in targeting process
• Join multiple department forces to attack the
  competition
• Competitive data valuable for marketing teams to
  determine success rates
• Deliver Timely sales collateral
• Market references, white papers, references
  available via views
• Formalized process for territory planning

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Next Steps

• Integrate Hoovers (DB) directly into
  salesforce.com
• Investment to be made to purchase Partner Portal
• Begin to report not only on AOP and cornerstone
  completion but how many wins will result
  because of it.
• Plan our investments for our future around what
  we discovered in this process

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