Market intelligence is an important process of monitoring business by keeping tabs on it’s the competition and industry trends. It is also a crucial part of running any business, regardless of the specific industry. As a branch of market assessment and research, market intelligence is designed to help various companies get a strong footing in the marketing door to increase their market share.
Benefits of using marketing intelligence tools
Your supply chain team should be a perfectly-oiled machine to ensure efficiency, given that you have several systems, including procurement and logistics. A sudden change in the business of a supplier or management can impact your operations.
Such a technique helps to issue real-time alerts to the changes and their businesses, warning you of disruptions that need a prompt reaction.
Superior supply chain strategy
Emerging companies are advancing their supply chain planning by assessing the impact of prospect events on their operations. If a product’s demand increases in a certain geographical area, you should have the right suppliers coupled with strategies to exploit it.
Increased customer satisfaction
Impressing customers is important to the success of your business. Marketing intelligence assists you in building a low-cost supply chain that can deliver a top-notch product promptly. It also makes it possible for you to work with various customers to disrupt the market and build trust. Besides, the intelligence enables you to keep an eye on customers by alerting you to any material change in business.
Lately, some online tools have become a company’s best friends for establishing new opportunities and enhancing business strategy.
Used by over 40000 people to gain competitive insight, Follow allows you to receive insights on any business website to make informed decisions. It also allows you to see an overview of any preferred site, such as search engine optimization, affiliate marketing, display advertising, and demographics.
Quantcast is a software platform in data mining that provides your audience with your website’s demographic profile. It also offers you crucial details, such as brand preferences and customer’s shopping habits.
Quantcast is a strong software engine helping business owners to make smart decisions in business.
Fanpage Karma is a platform that allows a business to manage its social media account and spy of competitors. Unlike other tools in the market, it tracks your social media accounts every day and keeps a record of it.
With this tool, you can monitor your accounts’ daily growth by analyzing the response rate to your post.
Google Analytics helps businesses to optimize their art marketplace, resulting in more than 300% yearly revenues.
Social mention refers to a social media search software that helps you analyze business by aggregating user-generated content from various parts of the world into one stream of information. The competitive intelligence tool allows you to track and analyze competitor customer reviews.
Founded in 2004, Netbase Quid is a consumer and marketing intelligence platform that helps businesses grow their social media analytics solutions. The company has an advanced long processing technology that helps businesses make decisions based on accurate data through market research, marketing, sales, public relations, customer service, and product innovation leaders.
Netbase Quid’s customers include emerging agencies and established brands across various verticals, such as AMC, VISA, J.D. Power & Associates, and Yum. The company helps to reduce costs to capture various social media insights by 40% over conventional methods and save companies about 30% of their time managing their PR issues.