Escalent's competitive benchmarking framework is a great tool to gather essential information about best practices of peers. The competitive intelligence insights served as a great starting point in the business improvement journey.
With media and entertainment companies fighting for consumer attention, a winning competitive strategy is essential. Without a full understanding of other players, it’s like shooting arrows while blindfolded. Our client was advising a global media and entertainment company on how to win in a hyper-competitive market. There were lots of new entrants and innovative consumer offerings.
Our client needed to get a handle on what technologies competitors were successfully using. More than that, they needed to know why. Based on the usage, what was the competitive play? If we knew what their competitors were up to, we knew we could help them build a strategic roadmap and win in this rapidly evolving environment.
We started with competitive benchmarking. Our proven competitive benchmarking framework includes a combination of extensive secondary research and in-depth interviews with industry experts. First, the Escalent team scanned competitors’ blogs, profiling nearly 300 technologies and tools. We then assessed which ones were helping media and entertainment players boost their business processes and how. We also analyzed news and industry blogs. This shed light on competitors’ past growth trends and future direction regarding hiring resources and acquiring assets.
Next up were expert interviews. These proved crucial to revealing the reasons behind certain strategic moves. Our experts provided non-public information that lent depth and nuance to a winning strategy.
Rather than just handing over our findings, we built a decision-making framework. It included comparing and contrasting the stages of content production workflow. This allowed our client to weigh the advantages and disadvantages of various approaches. The framework guided the client in the creation of new processes. It was a winning strategy that boosted both efficiency and impact.
Escalent helps companies build a winning strategy by leveraging competitive intelligence. We’d love to help you sharpen your competitive edge.