bookmark_borderMarketing Intelligence – Understanding Competitive Insight And Market Insight

Accurate and confident decision-making by marketers is only possible through useful advertising intelligence.

Unlike business intelligence, which primarily focuses on the data collected from a business' internal sources, sales marketing intelligence and trading analytics rely on data collected from the market itself.

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Sometimes organizations tend to combine both internal and external data in order to provide decision-makers with a holistic picture of where the business stands and where it needs to go from that point onwards.

Keeping our focus strictly on marketing intelligence and commercialize analytics, let's see how these two can benefit marketers and the organization as a whole:

Marketing intelligence can provide marketers with much-needed insight to understand the basic phenomenon on which the market, the business operates in, runs.

Not only that, it allows marketers to identify changing trends in the market and to adapt their advertising practices accordingly. Businesses that fail to do so soon lose their competitive advantage to other players in the market.

With the right commercialize intelligence, marketers can formulate strategies with respect to changing consumer behaviors, keep a close eye on the tactics applied by their competitors and also foresee emerging markets and business opportunities.

Incorporating marketing intelligence and marketing analytics into decision making, marketers can also determine their campaigns' effectiveness, identify areas that need to be worked on, determine future trading objectives, and might even stumble upon new strategy ideas for increasing sales.

High-quality intelligence programs can help marketers determine exactly when they should be launching their product or service, how the newly introduced service should be priced and what to focus on in their new marketing campaign, all with respect to the consumer demographics and competitor's strategies.