Marketing intelligence services have traditionally included information about your competition and relevant industry news. Today, the term has expanded to include analytics and analysis that can help you improve your projections and business model. Basically, market intelligence uses a range of sources to create a picture of your company’s problems, competition, customers, existing market and potential for growth. Mediamine can manage your market intelligence for you, making it as easy as possible for you to get the data you need.
THE IMPORTANCE OF MARKETING INTELLIGENCE COMPANIES IN NEW ZEALAND
In today’s highly intense marketing world, where competitive advantage is fleeting, the ability to effectively market products and services is critical. Market intelligence allows businesses to asses and organise important data, helping them stay relevant in the current market landscape. Here are some of its specific benefits.
- A clearer picture of actionable data. When a company develops a single customer view, they can better segment consumers based on value.
- Better customer retention abilities. Any business is under constant attack from competitors, so customer retention is an ongoing task.
- More opportunities for upselling. Market intelligence can help you identify which customer groups to target with which products.
At Mediamine, we provide smart solutions for your business challenges.
COMMON MISTAKES PEOPLE MAKE REGARDING MARKETING INTELLIGENCE SERVICES IN NEW ZEALAND
Market intelligence is an essential part of understanding your competition as well as your customers. It can also help you identify trends that affect profitability and sales. Here are some of the most common mistakes to avoid.
- Not knowing what you’re looking for. It’s helpful to have some idea of what you’re looking for before starting. Doing research in hopes of discovering anything at all is often an exercise in futility.
- Choosing reference materials poorly. The Internet is full of good and bad sources of information. Many websites have outdated or heavily biased content, so it’s important to consider the source.
- Ignoring your findings. The only thing worse than neglecting market research altogether is spending money on it and then not leveraging the results. One reason that some business owners do this is simply because the data they received did not support the answers they were hoping to see.
Mediamine can help you avoid all these and other problems, giving you the data you need and helping you understand how to use it for the best outcome.
Why Marketing Intelligence Companies Are Cost-Effective
More and more businesses are turning to market intelligence companies as they discover the many benefits for their organisation. Good market intelligence services can provide businesses with easily digestible and tailored reports, using a wide range of sources of data. It helps companies make decisions faster, and more efficiently as well. In general, market intelligence can help your business grow, making it a smart and cost-effective initiative. Mediamine offers monitoring services to capture information from a wide range of sources and deliver it to you via Newsroom to help you stay on top. Contact Mediamine today for more information.