Most enterprises today do a poor job of gathering customer and competitor intelligence. Contemporary customer acquisition strategies value retaining current customers over the cost and risks associated with acquiring new customers. These strategies emphasize customer relationship skills and service infrastructure over competitive intelligence and campaigning competencies. Which leads to an inward 360 degree view of existing customers. But little outward visibility of new customer opportunities and more importantly competitor movements.
A problem with many customer acquisition initiatives is the narrowness and depth of the data they work with. Any robust customer acquisition initiative must begin with a thorough understanding of all industry/market forces. The purpose of the terrain map is to aggregate and visualize all customers and competitors within a particular industry.
Terrain maps are used to visualize and navigate campaigns. A terrain map is populated by customers and visualizes industry forces and the dynamics between various competitors. There are two fundamental pieces of information needed to build a basic terrain map. They are the volume, and value of all customers within a given industry. Building up a terrain map begins with understanding the forces at work over the terrain you‚re about to compete on.
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