A few years ago, I took the helm of customer & market intelligence (CMI) for a large vendor. Executives wanted analysis that was more relevant — intelligence that was “deeper,” “more actionable,” and provided “knock-out punches.”
As a CMI leader, you likely hear the same thing. But, as you try to improve, you get feedback such as “the material is not helpful,” “looks the same as before,” or “isn’t specific enough.”
In hindsight, if I were to join a CMI team again, I would take a completely different approach — instead of trying to refine the research itself, I would change the design point.
CMI’s sales-oriented purpose is to prepare sales teams for customer conversations!
Earlier this week, during an interview with Forrester, a CMI leader commented, “CMI can make a strategic impact on sales because it prepares sales teams about important topics and potential surprises in customer conversations.”
But across the tech industry, CMI is not succeeding:
A Forrester survey of technology buyers shows that only 38% of sales “reps understand the customer’s issues and are able to identify how the vendor can help.”
Preliminary data from a Forrester study of marketing executives shows that 65% claim that one of their biggest strengths is “knowledge of the markets and customers we serve.”[i]