Understanding the competitive landscape and competitors’ business priorities can help organizations make better decisions regarding their marketing approach and the strategies they need to gain an edge. This is where competitive battle cards can help businesses. Competitive battle cards serve several purposes enabling businesses to gain granular insights on their competitor’s strengths, weaknesses, and product development approaches.
What are competitive battle cards?
Competitive battle cards are research-based reference documents that help sales teams educate customers about their product offerings and explain why they should choose their products over their competitor’s product offerings.
But creating well-articulated competitive battle cards is not as easy as one would perceive. Figuring out what information to include in a competitive battlecard template is often the most challenging part for a sales leader. Hence, the creation of competitive battle cards requires businesses to understand the market landscape, the competitive environment, and most importantly, their customers.
Including the right information about your marketplace, competitors’ strategies, and product offerings in your competitive battlecard template can help you target the right prospects to increase sales. Get in touch with our market research experts to learn how competitive intelligence insights can help unearth a whole new world of opportunities for your business.
About the Client
The client is a well-known manufacturer of smart lighting and home automation systems. Based out of Netherlands, the company is known for its wide range of product offerings that cover different segments, including personal care, household appliances, smart lighting, and other consumer electronics products.
Business Challenge
For several decades, the client had used ground-breaking technological expertise within various electronics goods segments to outrank its competitors and gain an edge by developing innovative systems to address the ever-increasing customer needs. But with the competition increasing rapidly and leading businesses entering the smart lighting segment, the client found itself in troubled waters. The client wanted to leverage competitive intelligence to head off its competitors and reclaim its market position as a smart lighting solutions provider backed by excellent customer service and product innovation.
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Our Approach
To find answers to many questions they had, the client wanted to gain an in-depth understanding of the key competitor’s organizational structure, business strategies, and the overall business environment. By using competitive intelligence, the client also wanted to understand their competitor’s sales strategy, sales team structure, and inshore promoters.
Our competitive intelligence experts adopted a comprehensive three-phased approach to offer a holistic view of their competitor’s organizational structure, business strategies, and product offerings, along with information on the margins, terms, and structures offered to their retail partners.
Competitive Intelligence Insights
Conducting in-depth market research and leveraging competitive intelligence aided the client in understanding the competitive dynamics and the market situation in general. Competitive intelligence insights gained from analyzing competitors’ spec sheets, landing pages, and webinars also revealed their competitor’s strategies, company background, aiding the creation of competitive battle cards.
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Product Innovation Intelligence
Conducting interviews and analyzing the inputs received from industry experts and insiders helped us understand the client’s opportunities and challenges. This impartial and independent analysis provided the shareholders with all the answers they needed to their questions on product innovation and product design and development.
Creation of Competitive Battlecards
The creation of competitive battle cards aided their sales team could counter the competitor’s strengths, highlight the weaknesses and develop killer statements to close more deals and gain an edge in the market.
Outcome
The insights and recommendations offered by our experts enabled the smart lighting manufacturer to understand the factors that led to their offers being rejected by prospects and what it would take to get them back on board. We also provided them with competitive battle cards to efficiently analyze their competitor’s strengths, weaknesses, and sales strategies.
The use of competitive battle cards enabled them to:
- Improve customer response rates and win more competitive deals
- Increase product demand and sales by 32%
- Reclaim their market position within a short span
Decades of experience in competitive intelligence enable us to create impactful competitive battle cards to help sales teams across industries focus on what they do best, i.e., win more customers. To gain comprehensive insights into the benefits of creating a competitive battlecard template, request a free brochure.
Creating competitive battle cards using competitive intelligence: What sets us apart?
Accurate information and custom solutions: Achieve measurable results with competitive insights and real-time data on market trends, competitor’s strategies, and key drivers.
Strategic planning and product innovation support: Collaborating with us ensures strategic planning and support through product design, development, and launch.
Flexible engagement plans: Our flexible engagement plans and pricing policies help our clients develop transformative business plans that help them adapt now and in the future.
