Competitive Marketing Intelligence
Compare competitors, customers, and products to understand how your business fits within the marketplace and challenges the status quo.
Competitive marketing intelligence is the process of surveying the current state of the market — looking at competitors, comparable products, and public data to understand how your products fit within the marketplace and to help challenge the status quo. The ultimate goal of this approach is to fulfill gaps within the overall business landscape.
By utilizing competitive marketing intelligence, companies have the power to deliver services that are not only helpful and needed by consumers but are also difficult to find elsewhere. It highlights where the market is saturated, and where there is room for growth.
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Become an agile market force.
Marketing intelligence can offer additional benefits to your business, regardless of product type, lifecycle stage, or target audience. This concept provides the ability to seamlessly make changes to products if needed, as consumer opinion and pain points can be identified. This market intel can inform decision-making, reducing the need to rely on intuition and luck, and increasing the possibility of customer retention.
Leverage data to compete in your industry.
Gravy Analytics’ location intelligence breaks down business competitors through a holistic data-driven approach. By tracking visits to competitor locations, companies can compare store visits with those of their competitors. With mobile location data, businesses can also explore where their competitors’ customers go before and after visiting the store. With this information, marketing teams can launch campaigns to win over competitors’ customers.
For example, you could utilize location analytics to learn that more than 70% of your competitors’ customers prefer to visit their store early in the morning. You could then take that newfound marketing intelligence and optimize your ads to show in the morning. As a result, you have a better chance of reaching those customers when they are in need of your services. This increases the likelihood of consumers who could visit your store or are ready to make a purchase.
Use deterministic, clean data to guide strategy.
Gravy’s competitive marketing intelligence tools are unique because they are based around real-world data.
Gravy provides detailed behavioral analytics across brands and locations, as well as foot traffic data for competitive locations — delivering insight into consumer choice and the events they attend.