Companies with an accurate view of themselves and their competitors are best positioned to succeed.
The business world is riddled with companies that focused their human and financial resources on business development while relying on anecdotal, subjective or gut feelings about their standing in the market. The problem is, these gut feelings are often off base. In today’s crowded and highly competitive business environment, trusting your gut will no longer do.
The companies that consistently win new contracts have systems in place to identify the key ways they can differentiate themselves from their competitors and understand how the market perceives them. The first step is Corporate Identity research—independent, objective research that eliminates guesswork and provides an accurate assessment of market perceptions.
The Benefits of Corporate Identity Research
Corporate Identity research benefits the capture process in three actionable, practical ways:
- It is an important tool for understanding the attitudes and perceptions your target audience has about you, based on critical performance-related attributes, including your track record, responsiveness and sector knowledge.
- It reveals how aware your target audience is of your organization in the first place. Little can be accomplished if the market does not know who you are or has an incorrect or confused impression of what you do. These attitudes directly affect opinions about the nature and usefulness of the services and solutions you offer.
- It shines a light on the same attitudes, awareness and usage of your competitors and their services.
Relying on gut feelings or anecdotal information can quickly lead you down the wrong path, inadvertently emphasizing weaknesses or downplaying strengths that do not align with the image the market actually has of you and your competitors. These misperceptions ultimately weaken your proposals. By contrast, a best-practice research approach to determine your Corporate Identity gives you independent and objective data to position your bid in the most authentic, persuasive and compelling way.
To get the most value out of this research, it is important to work with a reputable third-party research firm. The third party will be able to structure an assessment that accurately produces the information you need, and the results will be unbiased. Such independent analysis may not always tell you what you want to hear, but it will always tell you what you need to hear.
The Bottom Line
When correctly developed and executed, Corporate Identity research effectively identifies the best and worst practices within marketing and operational areas affecting your performance in the eyes of your customers and prospects. Knowing where you stand is the foundation on which higher win rates are built. Learn more about Corporate Identity research