The purpose of Marketing Intelligence is to provide an understanding of today’s reality, based on current and objective information that will augment, confirm or negate your existing data or beliefs. The information that needs to be collected and analyzed includes, but is not limited to; Industry/Market, Competitors, Substitutes or Emerging Competitors, Product & Service Lines, Target Customers, Marketing & Distribution Channels, Pricing, Opportunities, Problems and Potential Threats, Trends, Alternative
Uses.

Audit

An audit is a systematic, independent and comprehensive examination of a business’ current marketing environment, objectives, strategies, and activities to determine problem areas and opportunities. Major components examined during an audit include, but are not limited to; currently served target market(s) dynamics, firm capabilities and capacity, marketing strategy(s), marketing & sales organization & staff, website, external resources used (e.g. – MARCOM firms, agents, distributors), marketing systems, marketing productivity, marketing plan results.

Goal Setting & Forecasting

To grow any business, setting goals such as to adding new products & services, entering new markets, adding alliance partners, making acquisitions, are needed. By forecasting the results of achieving these goals and including expected sales forecasts of current products & services from existing markets will complete this step.

Strategy Development

Executives or owners use a systematic effort to establish or revisit the purpose of the organization, review the 1 – 3 year goals, and establish strategies, or what course(s) to undertake.

Plan Development

Monthly action plans need to be developed to generate demand of the products & services that meet the desired forecast. Documenting these tasks, who is responsible, and the costs to implement are the responsibility of top management. Budgets are then established to support the action plan.

Execution

The pace of executing the action plan depends on the nature of the organization and the environment in which it is operating. For example, organizations experiencing rapid change from inside and/or outside the organization may want to monitor implementation of the plan at least on a monthly basis. Boards of directors should see status of implementation at least on a quarterly basis. Chief executives should see status at least on a monthly basis.

Metrics

The top three measures that show sales performance and productivity are 1) lead quality and ROI, 2) conversion and close rates, and 3) level of action on opportunities – all very tactical and all tied directly benefited by a deeper alignment and integration between sales and marketing (Source: CMO Council).