Competitive intelligence (CI) involves researching, gathering and distributing information related to a client, prospect, product or competitor in order to aid decision-makers in strategic planning. In a law firm setting, this often translates to client intelligence, or analyzing information about prospective or current clients for business development and cross-selling purposes.
Today, many larger firms have a CI professional as part of their legal marketing or law library team. However, hiring a dedicated CI professional may exceed the budget for small and mid-size firms. Small firm marketers can get the value of a CI program without major costs through DIY CI, using free- and low-cost tools to provide business development research to their firm.
In this four-part Strategies+ series, 2017 CI SIG Co-Chairs will discuss the ways in which marketers can incorporate CI practices into their business development workflow without incurring major costs.
Check out the first issue on Research Tools by Virginia Ryan!
Part two of this four-part series, DIY Competitive Intelligence: Company Research by Ben Brighoff, will be available on Strategies+ next month.