Market intelligence is data that enables the user to make better, faster, more informed decisions. It helps businesses produce the most relevant visitors, clients, and leads possible. It’s a key ingredient for NetbaseQuant, the market intelligence platform, and the platform ecosystem. This is your chance to gain deeper insight into how consumers engage with your website or blog.
Market intelligence sometimes referred to as customer insight, is the necessary environment in which businesses operate. No matter whether you are managing thousands of suppliers or are managing just one, understanding customer behavior is essential. Understanding your competition is the first step in becoming competitive. Knowing where they stand today and what they plan to do will give a business owner valuable insight into how they operate. This knowledge is used by companies to benefit their bottom line.
Why businesses must use market intelligence?
The use of market intelligence is increasingly important in business even though it may be felt that a majority of business owners are not using it. The experts detect shifts that would otherwise go unnoticed by a company’s management. Market Intelligence gives a company a strategic direction that enables it to increase its output without any money being spent on expensive agencies and consultants. It helps the company reach new markets and allows it an early advantage in developing new products. Such tactics also potentially save companies millions of pounds every year as they can know effectively what consumers want from commercial deals before they purchase.
Why, Market Intelligence Tools?
Whether you’re a startup founder, entrepreneur, or just someone who has begun creating your marketing strategies for the future, market intelligence software will help ahead of the curve. If you’re planning on outsourcing your marketing campaigns or want to build out a marketing strategy for your small business, you’ll need to have a solid strategy in place beforehand. This is where market intelligence software enters the picture.
Market Intelligence Tools
Owler can be used as an all-in-one competitor analysis tool, but it’s most useful when you want to identify who are your competitors and how you stack up against them. It allows you to identify key data points and compare them side by side, so you can understand the competitive landscape and where you might stand compared to your competition.
Crunchbase allows for user-generated and company-generated data sets. The latter is useful for early-stage startups and entrepreneurs who lack internal resources to collect data. For founders who already have large teams, this tool might turn out to be more valuable since it enables them to quickly execute analytics on individual pieces of content created by their team without having to spend time building out custom dashboards.
Talkwalker is an all-in-one social media monitoring and analysis tool. It has been designed to help business owners monitor their team’s social media activities, analyze their competitor’s social media activity as well as monitor the conversations around your brand. You can set up alerts for industry terms and hot topics, including industry blogs, industry forums, and company websites. Talkwalker instantly aggregates the numbers, so you can see a real-time signal to the action of conversations around your brand or products. Talkwalker also has the ability to share live stats around Twitter and Facebook as well as a live dashboard showing the top charts of your competitors.
Deciding which tools are the best for you and the goals of your company can get a little tricky. That’s why here at NetbaseQuid, we are ready and able to come up with a customized market intelligence plan to point you in the right direction!