The Internet marketplace continues to expand at an incredible rate. In the old brick and mortar retail industry, market intelligence was a mixture of focus groups, word-of-mouth referrals, and clandestine operations that discovered what new product developments, executive changes, and price increases were on the horizon
Today’s Market Intelligence Is Not Your Grandfather’s Style
The Internet changed business playing fields in all sectors of the economy. Computers sent the retail and wholesale industries to cyberspace, and that opened the door for brands to gather information about political, social, technological, and economic challenges. Information gathering on the Internet is the new form of market intelligence, and it is effective. Brands have to know what the competition is up to in terms of current and future product development and growth.
Brands need several data sources like news websites, RSS feeds, and company websites that give information about the competition’s sales, purchases, and shipments. Branded company executives also need data that gives them information about customer behavior, new product development, and new ways to increase revenue.
Brands must be unique in their industry. Most brands try to re-create themselves when they use a marketing intelligence platform to get results. But not all intelligence-gathering companies cover all the bases unless they use a platform that includes artificial intelligence, according to NetBaseQuid’s CEO Peter Caswell.
Brands Are Target For Knockoff Artists
A brand has to be one step ahead in order to stay relevant in its sector of the economy. Companies invest in marketing gimmicks to stay relevant. But there is always an unbranded group of look-a-like products that take revenue away from the brand, no matter what a brand does to protect itself.
It’s an old problem that keeps updating itself based on the financial condition of the brand and the action the brand takes against the knock-off artists that use them to build a business. There are tons of online marketing companies that claim they have the tools to supply pertinent marketing information. But according to companies like American Airlines, United Airlines, Coca-Cola, Microsoft, and the New York Times, NetBaseQuid is “the next generation market intelligence platform.”
Those companies and others entered a marketing partnership with NetBaseQuid to be one step ahead of the mass market in terms of product offerings, price, and delivery. The NetBaseQuid AI platform incorporates analytic tools, vocal interactions, and innovative visualization techniques.
Key Opinion Leaders Play A Role In Marketing Intelligence
Key opinion leaders are people who have credibility in a particular segment of the economy, and they have a large social media following. Opinion leaders play an important role in developing brand strategy. Opinion leaders come from all walks of life. The one thing opinion leaders have in common is their ability to get people to react and purchase a particular product or service.
A good example of a key opinion leader is Justine Ezarik. Justine is an actress, YouTuber, host, and author. Justine has more than one million social media followers. And her YouTube views passed the billion-dollar mark. Ezarik and the other opinion leaders contribute vital consumer feedback on product design, quality, and pricing. Opinion leaders also promote products by wearing and talking about them. NetBaseQuid has a stash of opinion leader names in its AI database. And the company’s AI continues to find other ways to increase revenue and build credibility in a branded market that changes every day.