Stimulate your innovative side: Research shows that improved insight into what is happening in the market has a positive impact on the innovativeness of organizations .
Gain a competitive edge: The use of competitor intelligence is not yet widespread in the online marketing industry. Adoption can therefore lead to a competitive edge. You will then work with data that is not available to competitors.
Potential dangers
Competitive intelligence suddenly gives companies a wealth of competitive data. It is possible that they focus too much on this. That can be limiting. For example, on the unique character of the company or brand.
In addition, metrics don’t always tell the whole story. This is especially true when they are isolated. For example, let’s say your main competitor has 25% more followers across all social media platforms. It would seem that they are performing better in this segment. But what if your followers have 200% higher engagement? You could still say that your social performance is better. Even though this didn’t seem to be the case based on the main KPI.
Start with competitive intelligence in your company
The beginning is the easy part. You start by regularly checking websites and social media accounts of your competitors. There are also practical tools such as Google Alerts . Google Alerts provides you with updates. When competitors are mentioned on the internet, you get a notification. That offers valuable insights.
Competitive intelligence tools
Competitive intelligence is more difficult to do well and completely. There are currently several solutions on the market. Each one helps companies make better decisions based on competitive data. Important aspects of selecting the right tools are the reliability of the data, to what extent it is real-time , whether trend data is also available and how complete the data is.
A tool for social only is a good start. A tool that provides insight for different channels is more useful. That way you create a more holistic picture. Combining KPIs in strategic metrics can also help to create clarity about your position in the online landscape.
Do you have experience with competitive intelligence? I would love to read your story below.
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From ads based on travel behavior to websites that automatically adapt to visitors’ specific locations, geotargeting options have rarely been as extensive and accurate as they were in 2018. As of 2021, 45% of all mobile advertising budgets are expected to be used for this form of advertising . So far, geotargeting seems to be the holy grail for online marketers. Or not? The GDPR will come into effect on May 25, a term that you as an online specialist cannot have missed in recent times. But what will the GDPR mean in concrete terms for the application of online advertising techniques
It is clear that the GDPR (also known as the General south korea whatsapp number Data Protection Regulation) was created to protect private data, requiring companies and organizations to be more transparent with personal information. In this article, we will explain the impact of the new legislation: to what extent does the GDPR throw a spanner in the works of geotargeting ?
The world of geotargeting
Geotargeting involves displaying online content and/or advertisements to target groups located in specific geographic locations . Since every device connected to the internet has an IP address, the specific geographic location of the user can be determined from this IP address.
Until recently, the future of geotargeting looked bright. After all, by accurately using geotargeting, a lot of positive influence can be exerted on reaching the target group, reducing costs and increasing clicks and conversions.
A number of geotargeting options at a glance.