Market opinion means information collected and analyzed by a company before deciding whether to invest or not. Details involve a specific market in which a company may be interested. They include population, infrastructure, and government policy. Some tools may help investors in coming up with business strategies. Below are some essential devices that allow one to follow the concept of competition in the market.
It tracks how your competitors are performing on their websites. This tool helps gather important information concerning your competitor’s relationships with their customers, new partners, and how they perform. You only need to click a button; thus, it is so easy to use.
2. Fanpage Karma
The Tool compares your profile with competitors. Additionally, you can access your customer chat with one Tool. They have a free program that provides updated details of 1-week fan reports, a basic dashboard, and 90-day warning alerts. Their monitoring is constantly controlled to provide you with updates on what is happening on social media.
With this tool, it’s possible to track all the pages with one click directly on the page you want to view. In case of change, they send you an email. The difference between this Tool and the other is that it can notice a change.
4. Competitor. Email
It finds your marketing strategies via email. You can easily view, track, analyze and report email communications with competitors. A few clicks will help you find important information about your competing ECRM strategies.
It’s a web crawler that clears web data. Octoparse also improves the ability to download data with a simple click. The Tool is easy to use, and no programming is required. Users are only required to open a web page and select the data they are interested in.
iSpionage is a market opinion tool that helps you steal competitors’ traffic and unlock their conversion strategy. The Tool enables one to find keywords quickly with a list of PPC conflicting keywords. You can find details such as how much a competitor spends per month on Adword. Market Intelligence (MI) plays a great role in this
Benefits of MI
Besides helping firms differentiate between their product and competitors, it also helps with the information needed for success. Here are some of the benefits companies derive from market intelligence.
1. Promoting the Marketing Process
Many people think that a business having various products and more consumers is enough. But you need to know which product you can direct to a particular consumer. Market intelligence helps you to understand the division process, so it is easy to understand a product that will grow well for a specific group.
2. Provides Competitive Profit
Once you know the kind of product your competitors have in the market and the next trend, it is easy to enter the market and start a new product or feature that will help you deal with competition.
3. Improve Performance
Market intelligence can increase efficiency and productivity by accessing market opportunities and providing tangible information to grow.
4. Customer Retention
It doesn’t matter how long you stay with customers; they face competition. To avoid losing a potential buyer, you should make sure you understand if he is not satisfied and why. Market intelligence can help you know where you need to improve to give customers satisfaction.
NetBase Quid in Market Intelligence
NetBase Quid is a next-generation consumer site and a market opinion site that can provide information and thus help businesses find styles and connect with their customers. You can also understand the story behind market competitors.