How Competitive Intelligence Has Helped Firms Boost Sales

Most firms limit their data collection and marketing strategies, relying on their organization. However, it is essential to know yourself and your competitors too. Knowing your competitors’ business trend puts at the brim of operation. Thanks to the competitive intelligence tools in the market.

What is it, and why is it important?

It’s the process of monitoring the competition in your niche or area of operation basing on the data you collected data. Company then makes an informed decision. It is the monitoring of data that gives the firm its position in the market and the consumer feedback that will help it make the necessary adjustments. Companies know the new competitors in the market or take the lead in the market through competitive intelligence. It helps a business develop a real picture of their brands and make solutions making them take the frontline.

Did you know some companies in your niche are monitoring your moves? You also need to understand the secret behind competitive intelligence and rock the niche. Big companies have heavily invested in competitive intelligence tools; that is why they remain in the lead. Some of these tools are paid, but some are free for your company to use.

Competitive Intelligence Tools

Bizpva Quid is a very vital tool, as it will help you do intensive media coverage. After understanding what other firms are doing, you and your team can make informed decisions. The tool scrapes millions of data sources and billions of all social media platforms. With NetBase Quid, you will understand the customer feedback from your online consumers. It will help you identify the consumer, your stiff competitors, and the industry. You will know what drives consumer behavior and new avenues in the market.

SEMrush Market Explore

SEMrush Market Explore will help you understand your position in the market. It will also help you understand the entry areas if you plan to add a niche to your business. With this tool, you will understand the direct and indirect customers. It will show your ranking against your close competitors. You will also understand the market sources. SEMrush Market Explore will help you assess your marketing strategies and adjust where possible.

Crayon

Crayon will help you capture everything happening inside and outside your firm. It gives insights as it helps you monitor your competitor’s progress. Another advantage of the competitive intelligence tools is that it is free. However, you can also invest in its paid pro version.

Google trends

The Google trend is a free intelligence tool that shows how a search term is entered in search engines. It, therefore, brings keyword-related data that include an index, volume, and users’ demographics. The tool gives anonymous results and groups together the outcomes.

AdBet

The Adbet platform helps you spy the ads on your customer’s ad strategy. It focuses on displaying ads. The platform helps you know your clients’ strategies and gives you a picture of your next move. The tool helps you to up your campaigning strategies. It also gives you a hint on the best approach as it scrapes thousands of adverts on the web.

NetBase Quid

NetBase Quid is a market intelligence firm that offers real-time and accurate social media analytics solutions aiming at companies’ growth. The company endeavors to help the business make informed decisions based on online business trends. The company uses modern state-of-the-art technology to process and classify complex language. The firm enables customer service, product innovation, market research, and public relations to make workable strategies for their growth.