In today’s fast-paced marketplace, organisations can’t afford to skimp on gathering competitive and market intelligence. With the help of intelligence reports like Project Updates by ENGGPRO, businesses can stay relevant in the competitive market landscape as it gives them insights to real-time data.
Let’s understand the basics of leveraging the critical data gained from Project Updates by understanding this solution in depth.
What is a Project Updates Solution?
This solution will help you make better business decisions, act faster than your peers, and react more efficiently to dynamic customers’ needs – making your supply chain and your business, more competitive.
Gives data about whom:
Project Updates include data on all of the key players in a given market. It helps you understand the market better by providing information regarding the industry overall, market size, technology trends, competitors, suppliers/vendors in the industry and their reach in the market.
Customers and Prospects: The target market, your audience for marketing, sales, and product efforts.
Thought Leaders: People such as industry experts and the key decision makers who influence and discuss market movements.
Market Dynamics– Helps you focus on understanding the current market dynamics in terms of trends and geographies.
Partners and Aspirational Competitors: Companies that you cooperate with on projects or products or other supplies, or those that have related but non-competitive products.
Competitors: Gives you the information about the key players in the market for you to monitor and analyse new/probable competitors with respect to their capabilities, activities, product offerings, geographical reach etc.
In addition to the above information, you can monitor your own company to benchmark yourself alongside these audiences.
Who can benefit from the Product Updates report?
Every employee in the business can benefit from Project Updates – from sales to marketing to product to the executive leadership and everyone in between.
Sales: Sales teams can gain a competitive edge by understanding the strengths and weaknesses of competitors and learn about customer and market trends.
Product Marketing: Product marketers’ role requires a deep understanding of the market and customers – so usage of such reports is essential for the same.
Product Management: Product managers can build differentiated products that truly solve consumer needs by leveraging Project Updates solution for more holistic data on the current state and future trends in the market.
Executive Leadership: C-level leaders can take advantage of the big opportunities discovered by utilising intelligence derived from Project Updates and identify threats to lead and maintain a company’s advantage.
Why is Project Updates Solution needed for a business to succeed?
Market intelligence reports like Project Updates has the ability to drive both strategic and tactical actions, and have both quantitative and qualitative impact on a business. Some of the top benefits of this solution are mentioned below:
- Boost up-selling opportunities.
- Helps in reducing the business risk.
- Extends Business Reach like finding potential new business partners.
- Reveals new opportunities in the market—new segments or new products.
- Reduces dependency on intuition and luck by informing decisions and strategic direction in product development and marketing.
- Provides business information like understanding who are the innovative start-ups, trailblazers and the first movers.
ENGGPRO’s Project Updates solution helps you discover the key information about the Engineering projects across the globe to analyse the competition and the industry overall so as to manage your business better. It’s affordable and effective, so subscribe now and start exploring.