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How to craft KPIs for a killer competitive program

How to craft KPIs for a killer competitive program

Transcript

  1. Crafting KPIs for Competitive How to craft KPIs for a

    killer competitive program.
  2. Nikhil Dhingra Director Product Marketing, Competitive Strategy

  3. Disclaimer *Any thoughts or ideas expressed in this presentation serve

    to represent only my personal thoughts and opinions and not specifically those of ServiceTitan or any other employers I have worked for or been associated with. That said, I have seen many of the concepts I will express today work well historically in my experience. All sensitive information today verbally or visually has been redacted and anything you see in no way represents ServiceTitan or any other business I have been associated with.
  4. How many here have some formal competitive function in their

    company?
  5. Some common pitfalls of a competitive program

  6. Competitive should not be a cost center If your competitive

    program can be construed as a cost center, then something is fundamentally wrong with it.. Cost Center: • Unguided research • No data inputs / Bad data • Unclear actions or stakeholders • No continuous content creation and iteration • No defined metrics • No defined KPIs
  7. Strong pillars can make it a powerful program The right

    foundation can make a competitive program drive real business value across every biz function. Cost Center: • Unguided research • No data inputs / Bad data • Unclear actions or stakeholders • No continuous content creation and iteration • No defined metrics • No defined KPIs Profit Center: • Touches every part of org • Business + IT interlock • Close interlock with sales • Clear funnel into product • Clear metrics • Clear KPIs
  8. The right foundation can make a competitive program drive real

    business value across every biz function. Cost Center: • Unguided research • No data inputs • Unclear actions or stakeholders • No continuous content creation and iteration • No defined metrics • No defined KPIs Profit Center: • Touches every part of org • Close interlock with sales • Clear funnel into product • Clear metrics • Clear KPIs Strong pillars can make it a powerful program
  9. A competitive program with all the key components is not

    just a nice-to-have, but mission critical. Sales Increase Win Rate Product Deliver differentiating feature insight Strategy & Corp Dev Inform market moves Competitive Program Product Intelligence Market Intelligence Customer Intelligence Marketing Integrated campaigns Customer Success Reduce churn rate Competitive can be a currency across your company
  10. Crafting KPIs for competitive

  11. KPI 1: Win Rates Increase win rates against your top

    competitors.
  12. Decouple ‘head-to-head’ opptys and ‘replacement’ opptys Head-to-Head opportunities Replacement opportunities

    (Can be both) Isolating opportunity ‘types’ can give more context. Win Rates
  13. Identify top competitors by oppty count and value Data-driven approach

    surfaces to competitors by frequency in opportunity count and average deal size. Win Rates
  14. Get granular by looking at AE-level performance Build a real-time

    automated scorecard that monitors each rep’s performance. Win Rates
  15. Segment analysis by channel for deeper insights Segment closed opptys

    by cold outbound, warm outbound, events, etc. to hone in on any anomalies. Competitor X Competitor Y Win Rates
  16. KPI 2: Churn Rates Decrease churn rates against your top

    competitors.
  17. Go deep into the WHY behind losses and churns Example

    Disposition Codes to capture loss reasons: • Product Gap: Which one? • Pricing/budget • Onboarding issue • No Decision-maker • Did not see value • Bad timing Churn Rates A tight interlock early on between IT and the relevant business functions is critical for robust W:L analysis.
  18. Clear loss analysis is invaluable for actionable insights A tight

    interlock early on between IT and the relevant business functions is critical to optimal loss analysis. Example Disposition Codes:: • Product Gap • Pricing/Budget • Onboarding issue • No Decision-maker • Did not see value • Bad timing Identify patterns and clusters for actionable insights: Churn Rates
  19. KPI 3: Product Intel Deliver continuous feature insights and intel

    to product management.
  20. Competitive intel is an input into the roadmap Showing the

    value of competitive intel to product stakeholders is critical as they think of their products like ‘businesses’ that need to maintain their edge. A few top views for product: • Product dispositions (stack ranked) • Competitor feature differentiators • Competitors new releases (release notes) • Tear down analysis • Product lens within battlecards Product Intel
  21. Top 3 KPIs for a strong competitive program Increase Win

    Rates: Decouple oppty types, Identify top competitors, monitor AE-level perf. Decrease churn rates: Define disposition codes, enable CS, winback campaigns. Deliver competitive intel to product Stackrank product dispositions, product teardowns. 1 2 3 ProTip! Create a bi-weekly or monthly competitive reportfor internal socialization. And make it actionable! (e.g. create win story, feature request, update battlecard, etc.)