Overview

In this section, you will find information about Competitive Insights, including definition and the process to create a competitive insight. You will also find information about how to create a competitor within Salesforce.

Compliance / Legal Notice: One must never pro-actively ask for or accept detailed information on specific competitors. It is possible to ask/receive general info on competing price levels or terms /conditions if this helps to make a competitive offer. Always report to Solvay's Legal Department if detailed information about a competitor's offer is received or if any organized information exchange via the customer is suspected.

Table of content

Objectives & Values

Competitive Insight: a process of registering and sharing market intelligence obtained from customers as a result of ongoing negotiations. Such info may be registered in SFDC if the source / circumstances in which the data is obtained are mentioned.

Key added value of using Competitive Insights :

Build a knowledge base on Solvay’s competitors by collecting legally compliant information
Use this knowledge base to price competitive deals, and support win rate

Managing Competitive Insights in the CRM will help you by :

Improving competitors vision
Recording all business related information and making it visible (if it’s not in SFDC it doesn’t exist)
Enriching data on competitors, their product, their production capacity, their technologies
Calculating Solvay’s market share versus competitors Market share
Bottom-up collected data with global statistics for future release challenges

Step By Step

Create a Competitor header
First David searches a competitor’s name with the global search. If it does not exist yet, he goes to the competitor tab and clicks on the new button Or, he chooses an existing competitor from the picklist and clicks on continue
David decides to create a new competitor, so he fills all the information and clicks on the save button Competitors creation should be validated by GBU data steward concerned, by clicking on Submit for Approval
David creates a product for this new competitor using the New Competitor Product button Competitor product should be approved by GBU data steward. Competitor Product name could be the same as the corresponding Solvay Product or the real Competitor Product name. The Competitors products have the same hierarchy that Solvay’s Product but with only 4 levels. Each time you create a product you have to indicate the corresponding parent product.
David completes the capacity information by clicking on the New competitor capacity button. The capacity is completed for each competitor product

Create a Competitive Insight
First, David needs to filter all his Competitive Insight headers by clicking on the Competitive Insight tab	The legal notice is mandatory and informs the user of what is legal or not. Please read it carefully when creating a competitive insight.
He then fills in the filters he wants to see : all the corresponding sales or corresponding opportunities appear	Recurrent business data appear in green Growth business data appear in blue Prospect data appear in orange
David completes the total potential information for the Solvay customer in the header. He clicks on the edit button to complete for each Customer/product combination the Total potential if he knows the information, and clicks on Save	The Unit of measure is defined in is user preference (Ton or Kilo Pound)
Then he checks the information already filled and he can add new information for each Recurrent or Growth business by clicking on the Add Competitive Insight button Once David has finished to complete the information, he clicks on Save. Great! David has successfully created a competitive insight	He adds a competitor and a competitor Product and completes all information To remove a line he can clicks on the Remove Button
The competitive insight is now available from the Account page… If David wants to capture competitive info but he cannot find corresponding header, he can go to the account page to generate a new header and clicks on Generate Competitive Insight Header button
…Now when he clicks on the Update Competitive Insights button he will see the new header he just generated. David is now able to log competitive insight information on that combination of Account/Product.
The competitive insight can also be visible from the Visit Reports page…
…from the Opportunity page…

…from the opportunity page…
…and from the visit report. That’s great! Any user opening an account, an opportunity or a visit report will see the competitive insight and be aware of it. Let’s share the word!