Tribal Knowledge: Competitive Intelligence Training

The story

My friend Matt started working at a publicly traded company a few weeks ago. During his first few weeks, Matt would hear about the company’s various competitors. According to Matt, the company’s space was bustling with new competition that just seemed to keep popping up.

When Matt emailed around, asking if there was an internal document with the company’s comprehensive competitive analysis, he got a bunch of responses. Unfortunately, everybody had different answers. Certain folks shared Google and Word Docs with Matt that they had created for their own uses.

In the end, Matt found that nothing was centralized, and efforts were being duplicated, all without additional benefit or consensus.

When Matt discussed the issue with members of the company’s sales team, he began to see just how confused things were: sales reps couldn’t agree on how to handle competitor objections or even speak about the competition in a clear, informed way.

The solution

Matt ended up using and our competitive-analysis template to put together a lesson for the company, centralizing all his colleague’s intel and adding quiz questions to help salespeople retain the info.

The moral

The moral of the story is simple: Don’t let your sales enablement process leave home without competitive intel.

Whether you use Lessonly or not, shoring up your understanding of your company’s competition, while making it easily accessible to your teams, is a must.

If you’d like to get inspired by how other companies are using Lessonly to train their sales team, check this out.

Image source: Giphy

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