The ability to collect, analyze, and utilize information to predict the competitive activity and inform future business operations and strategy is what is referred to as competitive intelligence. Competitive analysis is important for businesses as it gives a thorough understanding of the company’s brand position, trends, and audience.
NetBase Quid is a market and consumer intelligence software that helps companies grow by providing clients with contextual insight and Social Media Analytics solutions. NetBase Quid uses its advanced Natural Language Processing technology that is capable of understanding and classifying complex language to help firms make decisions based on reliable data.
NetBase Quid enables companies to achieve faster creation of winning strategies and offers services at various levels of the company. NetBase Quid offers services in public relations, customer care service, new brands, sales & marketing and market research.
The company has a track-record of transforming businesses using its efficient data tools to predict suitable competitive activities. In your quest to reach your business’ goals Netbase Quid will help you:-
Boost Performance in Business Campaign
One of the greatest and persistent challenges today is capturing the consumers’ minds in the expansive sea of news and social media. NetBase uses its social and market analytics to aid in the development of an in-depth profile of the targeted consumer. In so doing, NetBase allows the business to focus its time and finances on achieving its acquisition goals.
While at it NetBase will help you in the creation of a multi-sided profile of your target market, uncovering of your target consumers’ preferences, interests, and activities, identification of dissatisfied competitor customers who are open to change, and discovery of trends, preferences, and current events that influence consumer behavior.
Get to know your business target audience
NetBase Quid comes in to help companies know their audience and achieve an authentic connection by using traditional sources of data like customer surveys and internal purchase trends combined with social media and news data to get a thorough profile of your audience. They also help you discover life stages, affiliations, and interests that make your customers stand out from the general population. Uncovering the behavioral and emotional insight that guides your engagement with your customers is also a key thing that NetBase will help you achieve.
Develop Emotional Customer Connection with Your Brand
Competitive intelligence allows you to add psychographic dimensions to the existing demographics to reveal behavioral and emotional insights to support the company’s strategies. These insights could be what they listen to, watch, buy, and eat, among others. In the process, you will identify the emotional drivers that connect your customers to your brand, have an informed placement and creative strategy connecting your brand to your customers in addition to creating authentic experiences with your audience by integrating popular visual user-generated content combined with emerging topics into the content strategy.
The primary goal of competitive intelligence is to reveal opportunities and potential risks that companies might be facing as well as gathering competitor’s strategies to better your business. Several competitive intelligence tools for businesses to achieve their goals are currently available. Before settling down for any competitive intelligence tool one should be conscious of some key features to help choose a tool that will produce optimal results. Different tools have specific features modeled for varied needs and intended results. Some common specific features can be:-
– Analysing competition behavior patterns in performance
– Launching marketing campaigns
– Comparing specific competitors
– Niche and new market research
– Displaying competitors’ digital creative history
– Monitoring competitors’ performance
Some popular intelligence tools available in the market for small, medium, and big companies are; Crayon, SpyFu, SEMrush Analytics, Wappalyzer, BuzzSumo, SimilarWeb, Moat, Alexa, Owletter, and TrackMarven.
