With rapid technological advancement, businesses and individuals have more opportunities than ever to obtain market intelligence. Market intelligence allows companies to identify trends that can lead to profits. Brands that don’t make effective use of it run the risk of falling behind and failing to meet their goals.
Market intelligence can be acquired in many ways. Some companies hire people to gather and analyze data. However, there are other methods, such as social media sites, databases, and industry publications. Many online tools are used to gather and analyze the data. Here we will look at some of the most common tools and how they can be used to acquire market intelligence.
Net Base Quid is a software tool that allows businesses to look at trends and sentiments within the market. It can also focus on target markets, identify your most valuable customers and monitor online discussions about your brand. NetBase Quid is used by companies to obtain customer feedback and determine their customers’ needs. They can help you to identify any issues and take action before it is too late. Brands that need to develop a concept of what they want to offer in the market can use this tool to obtain valuable customer feedback.
Rival IQ uses algorithms to collect and analyze information about your competitor’s marketing strategies. It can identify consumer trends, what your competitors are doing, and how effective their campaigns are. Rival IQ is aimed at helping businesses to get an understanding of the competition. It can also help you find out what keywords people use when they talk about your competitors on social media platforms such as Facebook, Twitter, and LinkedIn. It features a competitive intelligence tool that can be used to compare your brand against those of your competitors. It also has a competitive benchmarking tool to help you assess how competitive you are compared to your competitors.
HubSpot allows businesses to develop a set of tracking links that can be used to track their brand online. It can also be used to obtain valuable information about your website and analyze it for inbound marketing. It allows you to identify keywords you can use on your website and optimize them for search engines. It also offers social media monitoring tools, which are helpful for any business engaging with customers on social media. It can help you to identify potential customers and key influencers.
Google Alerts is a service that allows you to receive alerts via email as soon as something new appears on the web. It also allows you to pull data from other sources to obtain valuable information about your industry. Google Alerts is ideal for businesses wishing to increase brand awareness or seeking customer opinions about their current offering. It can also be helpful for monitoring feedback from bloggers and keeping up to date with your competitors’ brand presence on social media. To measure the effectiveness of your marketing campaigns, look at the performance of your keywords and other related phrases.
It is essential to understand how market intelligence is acquired and how it can help you evolve your product. When gathering information about your market, you need to look at data from more than one source to obtain the most accurate results.