How to Make an Effective Marketing Watch?
Marketing intelligence , as its name suggests, means staying awake. Not awake like you might be in the morning when you get out of bed. But rather be awake and aware of the environment that surrounds your business : understand in which market it operates, the innovations that would benefit it, the competitors it has to face, the consumption trends of its customers … Doing marketing intelligence for your company therefore means having the Algeria Mobile Number List advantage of knowing your market , which will allow you to choose and define your communication strategies accordingly .
This enlightened vision of the market is the result of long, well-organized and sequenced research work. So, how to do to carry out an effective watch for his company? Meeting around marketing watch to define strategic objectives Before going any further, you should know that there are several types of marketing intelligence. According to the definitions of monitoring given by marketing blogs, you will be presented with between 4 and 6: competitive intelligence, technology watch, environmental watch, commercial watch … Concerning us, we will deal with 2 forms of monitoring that we deem a priority for your company: • Competitive monitoring • Digital monitoring
COMPETITIVE INTELLIGENCE FOR YOUR MARKETING STRATEGIES
What is competitive intelligence? Competitive intelligence is the monitoring of the services and products of its competitors . This type of monitoring allows you to carry out an in-depth study of your competitors, whether direct or not. This practice will allow you to spot and understand the major trends in your sector . This knowledge of your competitive market will be decisive for your future communication actions. Example: you are a chain of restaurants specializing in American-style burgers. Your watch allows you to realize that some of your competitors are increasingly diversifying their offers by offering vegetarian and gluten-free burgers. There is therefore a market trend that is emerging through our research.
Having this type of information will then allow you to make a choice for your future strategy : • Choose to follow the market trend and new consumer desires for vegetarians and gluten-free, • Choose to publicly assume your desire not to not diversify in the direction of new healthy trends as has long done Burger King who wanted until the end of 2019 to focus only on high-end meat. How to set up competitive marketing intelligence? Before you start, it’s important to know who your competition is . At first, it is more relevant to focus only on your direct competitors (size, offers and catchment areas similar to yours).
The bigger ones or the farthest ones will interest you later
Do research for your marketing intelligence To identify your competitors, there are several solutions: • Meet them at trade shows where you want to be present • Find them on online business directories or specialized websites / blogs • Look for them online , on social networks or search engines • Find them among those cited by your customers and your prospects Once your competitors have been identified, you can set up your monitoring in several ways:
Review as often as possible their communication media (website for example) to see the evolution of their offers / new features • Subscribe to social networks : dissect which theme, tone, position statement, graphic creation allow to create positive reactions and engagement • Monitor specialized media likely to talk about your competitors and their products • Subscribe to their newsletter : save them and put them aside. Newsletters are one of the best ways to identify communication times and seasonality in your sector •Subscribe to platforms or intelligent monitoring software of the Paarly type which carry out daily automatic monitoring of your competitors and their offers displayed on the internet.