How Market Intelligence can boost your business growth: Points to note
Question for all, what do you think is one of the most stereotypes yet prevalent practices common among the big guns of the industry?
It’s market intelligence- a booming business function that has roped in all the world-class brands with its competency and diversity.
Time has come for companies to get the real picture of today’s business challenges and accept the harsh reality that no longer yesteryear’s business approaches will map with present day’s can of worms.
In Simplest terms
On account of every day changing scenarios, speeding up with your competition and keeping a tab at the state of the industry has become wheels within wheels. Albeit, this cannot be avoided since it is one of the most vital aspects to operate a business, the changing time calls for new moves, or shall we say ‘market intelligence.’
In recent time, gathering market intelligence has spread its wings to analytics, in a bid to provide a top-class approach to your business model and projections. The sole reason for this change is that market intelligence delivers a much more widespread view of your overall business.
Companies like SPIN lay emphasis on digital marketing intelligence to leave a strong footprint on every relevant app, website, and device. Comprehending every minute aspect of the digital behaviour is the need of the hour, and SPIN prioritizes digital behavior like no one.
How Companies totally go for market intelligence?
When you search the term market intelligence in popular sites, say Linkedln, nearly 200000 results will pop up, fixing you up with a roadmap for your pursuit.
Most companies have a group dedicated to this business function to dig deep into the following crucial aspects:
• Competitor intelligence
• Insights and business analytics
• Business planning and strategy
Joining hands with AI
Market intelligence and AI has the relation same as coffee and sugar has-one complements another. Using AI, marketers can navigate through their digital path with ease. Analysis processes and data collection that previously held no weight can be turned meaningful with machine learning, and hence it is an another cap in its feather.
Only by customizing AI with marketing intelligence can you reap the benefits of AI. As an individual marketer, getting an in-depth knowledge about you consumer will help you share content that is more relevant, track campaigns development, and enhance the overall consumer buying experience.
What’s in it for your company?
Making a marketing plan is no sweat for any business, but making an effective one makes all the difference and injecting marketing intelligence is the only key.
Data can only be worth it when it is analyzed and turned into a valuable insight. Taking the helping hand from machine learning data analytics, information regarding customers can be converted into specific ads or can be used to understand the behaviour and trends. Once the analysis of such data is complete, marketers can bank on it to meet their objectives.
A word of caution-only with a clear understanding and integrating digital resources into your marketing endeavors can you cash on this booming business function and prevent from falling short to the hype.
How SPIN cuts you a smooth deal?
Entering in your forte with all-inclusive information from the entire company, SPIN takes a strategic integrated action across all the business functions, to achieve breakthrough growth as its concluding move.
SPIN also focuses on visual content. As per records, more than 1 billion images are shared online almost every day. Such images have information that can turn the tables for your marketing efforts. SPIN uses such images to identify customer trends for particular subjects in a bid gain insight, and hence offers visual market intelligence.
At SPIN , we know how keen you up to up your game and we know to play it with the right types of equipment.
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