While every project is unique and demands a tailored approach, our extensive experience in strategic market intelligence has enabled us to pinpoint the essential components for success. Our approach is meticulously crafted to support market intelligence projects even in uncharted market territories and meet the client’s needs and research objectives. Project milestones are at the core of our approach. In this article, we shed light on these crucial elements.
I have come across many articles detailing specific steps for project implementation, such as defining research goals, timeframe, budget, etc. However, I prefer to direct attention elsewhere for now. I aim to highlight three key aspects of our approach that impact the successful execution of market intelligence projects and bonding relationships with the client. These aspects encompass context discussion, solution design, and results-driven deliverables. Let’s delve deeper into each of these pillars.
Context discussion
Our initial priority is gaining a deep understanding of the background of the market intelligence project. The context discussion stage allows us to grasp the challenges and adjust our methodology accordingly. Before commencing a market intelligence project, we seek answers to several vital questions:
- Business Goals: What specific questions need answers?
- Status Quo: What information does the client already possess, and what information is lacking?
- Timing: What factors warrant the project’s immediacy? Are there market developments driving the need for action?
- Recipients: Who will utilize the study’s outcomes?
- Deadlines: When is the study required to be completed?
Answers to these questions are instrumental in tailoring the methodology and determining the scope, timeline, information sources, and interview requirements. The context discussion can be conducted either in person or online, depending on the circumstances, although the method is secondary. The primary focus is on involving the right stakeholders.
Drawing from our experience, engaging individuals who will directly benefit from the market intelligence recommendations right from the project’s inception is highly beneficial. Their insights are invaluable in determining needs, challenges, and knowledge gaps.
The primary advantage of the context discussion phase lies in building mutual understanding and identifying the precise market intelligence requirements. Armed with this knowledge, we are well-equipped to propose optimal solutions.
Solution Design
At EMBS Group, we specialize in providing businesses with hard-to-get market intelligence in four key areas:
- Competitive intelligence
- Customer intelligence
- Supply chain intelligence
- Internal company intelligence.
These areas collectively offer a comprehensive 360-degree view of the market landscape [visit our blog post “Enhance your perspective: get a 360-degree view of your landscape with market intelligence ” for more information]. However, the need for such a broad view varies depending on each project’s research objectives. Therefore, we do not offer off-the-shelf solutions or pre-set services. Instead, we tailor our approach to meet each client’s needs; we provide answers to critical questions where our competencies, like puzzles, fill in the missing gaps.
We leverage various solutions, such as market sizing, product positioning, benchmarks, value chain mapping, and industrial best practices, choosing and combining them case-by-case basis. This flexible approach extends to our selection of tools (discussion guides for in-depth interviews, statistical models, etc.) and information sources (primary vs. secondary research).
While every project may require a unique scope, we follow a consistent path. Our methodology is rooted in our team’s extensive expertise in strategic consulting, project management, and lessons learned from diverse market intelligence projects. It drives our teams to conduct studies across various industries, research topics, and geographical locations.
Our methodology outlines well-defined milestones and provides guidelines on “how” to address our client’s business challenges. Particular milestones serve as checkpoints, allowing us to assess the project’s feasibility and make necessary adjustments. They represent critical moments in our market investigation process, instilling confidence in our clients that we will deliver top-notch market intelligence, even in specialized niches and unexplored topics.
Result-driven deliverables
It is common practice to present the results of market intelligence projects in PowerPoint format. Typically, these presentations follow established guidelines, emphasizing visually appealing slides with a balanced mix of graphs and easily understandable content. However, recipients often find navigating through such market intelligence reports challenging, leading to an overload of information without clear guidance on actionable steps and implementation strategies.
This is where we differentiate ourselves by ensuring that our deliverables are not only informative but also powerful. Here, we circle back to the initial context discussion phase. By comprehending the core challenge, we structure the market intelligence report to enable users to swiftly locate the answers they are looking for.
Our fundamental goal is to empower businesses, so we always prioritize the return on investment (ROI) concept. Our clients continue to choose us because of our commitment to providing deliverables beyond mere data. In addition to comprehensive insights, our market intelligence reports always encompass:
- Actionable recommendations
- Identification of quick wins
- Operational tactics.
These elements equip our clients with the necessary tools to drive their businesses forward. Additionally, incorporating industry expert quotes enriches our deliverables, offering nuanced market intelligence insights that can influence market positioning and value proposition.
Furthermore, our deliverables are presented during strategic workshops to an audience selected by the client, such as the project team, project sponsor, specific departments, or the Board. This format fosters engaging discussions and Q&A sessions, providing significant added value.
Wrapping up
In addition to the factors presented above, we follow an Agile approach. We prioritize organizing regular status meetings to present interim market intelligence insights, offering a valuable opportunity to validate our understanding of the client’s challenges in real time and align on the most effective presentation of results. This Agile approach allows us to adjust key intelligence objectives as needed, ensuring that strategic goals are met. It also gives clients a sense of security, as they are kept informed at every process stage.
Having successfully concluded hundreds of market intelligence projects, we recognize that each case presents unique elements. Nonetheless, our experience has shown that adherence to a well-defined approach and a keen focus on the client’s requirements pave the way for success. We encourage you to connect with us if you face challenges acquiring market intelligence to empower your decision-making process. Let’s explore how our approach can support your specific needs.
