Continuous change has brought about a new wave of difference in how companies analyze their data to deliver better customer experiences. Businesses now turn to artificial intelligence and big data to drive innovation and streamline operations. In the past few years, there has also been an exponential growth in research into human behavior to improve services and products. The combination of these different trends has opened up a vast new research area called Human Behavior AI that can help solve some of the most challenging problems facing our economy, from healthcare to financial services. Here we will discuss five market intelligence tools and their benefits for businesses looking to get a competitive edge.
- SimilarWeb
SimilarWeb is a free, daily website traffic analysis tool that provides information on the popularity of your website by comparing it with other websites. SimilarWeb allows you to compare your current traffic with a competitor’s site, discovering which competitors are gaining more visitors and which ones have lost traction. You can also see where your site is most popular and where it is least popular. SimilarWeb also provides you with other vital metrics such as browser type, device type, country of origin, and geographic location so that you can fine-tune your marketing strategies accordingly. Be sure to check out EngineRoom if you would like to know more about social media advertising companies
- Google Analytics Tool
Google Analytics is a free service provided by Google. It allows businesses to track the performance of their websites and applications. The tool has dozens of features allowing companies to track visitor activity on their websites, view detailed reports, and analyze the effectiveness of the various marketing campaigns they have implemented. Google Analytics offers a variety of visual reports to help businesses and organizations make informed decisions about their website’s performance.
- Owler
Owler provides a free and comprehensive SEO Audit tool that lets users get an overview of their website’s SEO performance. The tool gives insights into the keywords used, the SERP position, top link analysis, and how many visitors each page is getting. The data it gathers can develop a strategy for improving your website’s SEO performance.
- SEMrush
SEMrush is one of the most popular tools among businesses looking for insights into their competitors’ online marketing strategies. The SEMrush tool ranks websites based on the quality of backlinks they receive from other websites. It also analyzes which keywords are driving these backlinks, making it easy to see which ones you should focus on in your marketing efforts. This analysis can help businesses improve their organic search ranking by identifying high-quality keywords that they should be targeting to improve their visibility on Google.
- Moz Pro
Moz Pro is a powerful keyword research tool. It allows users to find potential keywords that significant companies across different industries have recently searched. This helps businesses identify new market opportunities for their products or services and decide which keywords they should target for advertising campaigns or content creation efforts. Moz Pro also allows users to monitor competitors’ search volume trends over time, alerting them when a competitor is planning a new ad campaign or launching a new product with high search volume potential. This information can help businesses plan and avoid wasting ad dollars on keywords that will soon be over-saturated by competitors.
- How Businesses Can Integrate Market Intelligence Tools Into Their Operations
Collecting market intelligence varies from one business to another based on the type of business and its size. A large enterprise may have a dedicated team that collects all its market intelligence in-house. Smaller companies may outsource their market intelligence needs to a third-party professional who collects the data and then presents it to them for analysis. The decision between these two options depends on several factors, including the budget, access to other resources such as expertise and technology, and an understanding of how much time it will take for the information obtained through these methods.
Data is the lifeblood of a business. Without it, you can’t do anything to improve your product or service. You need to know how to use it to help you make the most of it and improve your business. This is why Market Intelligence is so important. If you want to succeed as a small business owner, you need to know what your competitors are doing, how they’re doing it, and what you can do to improve your operations.
