What to ask vendors

Start by understanding if the market intelligence solution is a good fit for your company based on some of the minimum requirements like integrations and setup time and complexity. In this portion of the conversation, you want to understand if the tool will fit in your stack now and in the future.

Let’s take a look at what questions you should ask and why they are important.

Questions to ask vendors when researching market intelligence software

Integrations and connectivity

In Chapter 1 we discussed the importance of understanding your technology requirements, including identifying all of the tools in your stack. You want to ensure that the market intelligence tool you purchase today will work well with your current and future stack.

Differentiation and scalability

Every market intelligence solution has different strengths and weaknesses. Ask the right questions to ensure you have a clear understanding of what makes each option unique. This is also a good time to understand the future state of the product and how your business can grow with the solution.

Skills required and timeline

Some market intelligence tools can be set up in a matter of days or weeks, while others take months. Understanding what skills are required of you and your team as well as the length of time to start seeing results will help you determine if it’s the right fit for your company.