I’m excited to share something a little different with you today. I’ve got a story for you about a product marketing team determined to turn a failed presentation into a smashing success.
Even though we’re talking about presentations, I promise the key takeaways are valuable for all scenarios.
So, take a break from whatever you’re doing and give it a read. Afterward, let me know what you think! Let’s jump in!
Best Practices for Communicating Competitive Insights to the Sales Team
As the quarterly all-hands sales meeting approached, the product marketing team knew they needed to provide clear, actionable insights to the sales team to stay ahead of the competition and win new customers. But after last quarter’s competitive intelligence (CI) update flopped, they realized they needed to take a new approach.
Over the past three months, the product marketing team executed a new plan to ensure that this year’s CI presentation would be a success.
To start, the product marketing team involved the sales team in the initial competitive analysis process. They conducted interviews with sales reps and management to understand their pain points and gain insights into key competitors.
This ensured that the competitive insights were relevant and actionable, showing the sales team their input was valued.
In their presentation, the product marketing team made sure to give credit to the sales team for their contributions. They included specific insights provided by individual sales reps and incorporated their feedback into the final analysis.
For example, when several sales reps reported a specific objection that kept coming up, the product marketing team included a targeted recommendation that addressed the issue in the deck.
To ensure that the competitive analysis was aligned with the specific goals and priorities of the sales team, the product marketing team identified specific pain points that sales reps faced in the field and provided recommendations to address these challenges.
For instance, they created messaging templates that the sales team could use to address a recent new feature from one of their biggest competitors.
To build credibility and ensure that the recommendations provided were grounded in reality, the product marketing team used data to back up their findings. They analyzed competitor data from the CRM, win/loss interviews, and a comprehensive digital competitive analysis. This helped to build trust and confidence in their insights.
The team also made sure to provide actionable recommendations and enablement tools to the sales team. They developed messaging templates, sales scripts, and specific customer outcomes to emphasize. Each recommendation was tailored to the specific needs and capabilities of the sales team.
They also provided guidance on how to structure the presentation and what visual aids to use. This guidance ensured that sales presentations were engaging and easy to follow.
By the end of the presentation, it was clear that the product marketing team’s new approach to communicating competitive insights to the sales team was a success. The sales team was grateful for the product marketing team’s efforts, and the two teams were working together more effectively than ever before.
Finally, the product marketing team recognized that the competitive landscape is constantly evolving and continuously monitored and updated the insights. So they set up automated monitoring tools, attended industry conferences, and engaged with customers to stay up-to-date on trends and developments.
This ensured that the sales team always had the most up-to-date information and were well-prepared to compete in the marketplace.
By following these best practices, product marketing teams can ensure that their competitive insights are relevant and actionable and effectively communicated to the sales team. This helps the sales team stay ahead of the competition and contributes to overall business success.
Key Takeaways: Communicating Competitive Insights to the Sales Team
- Involving the sales team in the initial competitive analysis process can ensure that the insights are actionable and relevant.
- Giving credit to the sales team for their contributions can build trust and collaboration between the teams.
- Aligning the competitive analysis with the specific goals and priorities of the sales team can provide practical solutions to real-world problems.
- Using data to back up findings can help build credibility and ensure that recommendations are grounded in reality.
- Providing actionable recommendations and enablement tools can ensure that sales presentations are engaging and easy to follow.
- Continuously monitoring and updating insights can ensure that the sales team always has the most up-to-date information to stay ahead of the competition.
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Take care, and have an excellent rest of your day.
Stewart Swayze