Implementing a winning strategy requires committed leadership, rigorous execution, and, above all, strategic choices that remain relevant in light of the market.
Time and again, I have explored the importance of monitoring the success conditions of these choices that affect customers, the environment, the company, and competitors. Since choices are based on assumptions about the future, any change can derail the best-established strategy. Developing an antifragile organization means being able to adapt strategic choices when necessary.
This implies continuous monitoring.
AI can be of great assistance in facilitating and accelerating the process. It allows us to increase our capacity for observation and analysis, while also revealing angles and opportunities to explore.
However, you still need to avoid 5 mistakes that can derail your process.
Mistake 1: All Manual
Conducting competitive intelligence manually involves time and resources.
Defining the research plan, exploring secondary data, and capturing information from sales teams require rigour, of course, but above all, time and dedicated teams. By the time it is possible to have adequate visibility into the competitive arena, the variables have already changed.
By wanting to do everything manually, you open the door to a significant risk: information becoming irrelevant. Consequently, it is difficult to adapt strategic decisions adequately.
Mistake 2: All AI
Without a critical eye on market information, the strategist remains blind.
To address the issue raised by mistake 1, many would be tempted to fully exploit AI's capabilities blindly. However, it is vital to remember that AI is an assistant that requires supervision. Like an expert analyst, it is necessary to have a global perspective that ensures the relevance of the content, the accuracy of the conclusions, and above all, the rigor of the analysis.
It is necessary to validate the information, correct deviations, and enhance the research context. This involves several iterations and exchanges to ensure that only relevant variables are taken into account. Not to mention the importance of retaining this “analysis memory” for future research.
More than ever, we need to keep a human in the loop, both for validation and for structuring the research.
Mistake 3: Waiting 1 To 3 Years
Competitive arenas are dynamic, and innovation cycles are fast.
Conducting competitive intelligence over long periods carries the risk of being reactive to market movements. Whether for customer, environmental, or competitor variables, this delay means that management decisions are based on a past reality. It increases the risk of brutal adjustment in the event of a crisis.
It is important to stay aligned with key signals to ensure a just-in-time perspective that allows you to remain proactive.
Periodic strategic reviews are thus enriched with crucial information relating to both the risks and the opportunities to be exploited.
Mistake 4: Focusing Only On The Competitive Dimension
The success conditions of our strategic choices don’t depend only on competitors.
Failing to take into account other factors (such as customers and the environment) that influence strategic choices leads to strategic myopia. Various factors determine the conditions for the success of these choices. They affect both the value proposition and the business model.
Maintaining a systemic vision is essential.
Developing the capacity for capturing and valuing information, as well as quality assurance for analyses, is necessary for all variables. It is at the intersection of these various dimensions that the greatest opportunities for differentiation lie.
Mistake 5: Forgetting The Limitations Of AI
AI is a powerful assistant, but it has its limits.
AI can become a source of misinformation if not used cautiously. It can invent market share figures, non-existent features, or inaccurate financial data when it lacks precise information. Always verify critical data (revenue, official prices) and even the list of competitors to avoid basing your decisions on hallucinations.
Furthermore, never share your confidential internal data (your R&D pipeline, your margins) in a public AI. Make sure you have clearly identified the necessary guidelines for sharing your data and using validated specific models.
AI remains a member of your team. Not an absolute truth that cannot be challenged.
A Prerequisite
Conducting competitive intelligence without having previously documented your strategy and the underlying assumptions is like going on an expedition without a clear direction.
You will collect a large volume of data and will discover the challenges of isolating the truly relevant information. This will extend deadlines and require resources that are probably unavailable.
Not an effective approach.
To understand how competitors' positioning, value propositions, and business model choices are coherent and enable differentiation, you must be able to identify the impacts on your own choices.
This documentation is the essential starting point, the non-negotiable foundation.
Next Steps
During your next management meeting, explore the following questions:
- How do your three main competitors stand out in terms of value proposition and business model coherence?
- Is the information on hand complete, up to date, and verified?
- Where are your current blind spots?
Remember: Integrate short strategic review moments into your management routines, with a focus on weak signals and changes in competitors' trajectories.
It’s your turn. Good strategic action!
Eric L’Heureux