Marketing intelligence is the data that you collect and analyse to improve your marketing decisions and actions. It can help you understand your market, your competitors, and your customers better.
In this article, you will learn:
- What marketing intelligence is and why it is important for social media marketing
- How to collect and analyse marketing intelligence data for social media marketing
- How to use marketing intelligence to create engaging content, target the right audience, and measure your results
What is Marketing Intelligence and Why is it Important for Social Media Marketing?
Marketing intelligence (MI) is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics.
Marketing intelligence can come from various sources, such as:
- Internal databases: These are the data points that you collect from your own systems, such as CRM, sales, web analytics, email marketing
- Customer feedback: These are the data points that you gather from your customers, such as surveys, reviews, ratings, comments
- Social media: These are the data points that you monitor natively from social media platforms, such as likes, shares, mentions, hashtags
- Web analytics: These are the data points that you track from your website such as referral channels, attribution, first touch/last touch, visitors, page views, bounce rate, conversions
- Competitive analysis: These are the data points that you collect from researching your competitors, such as their products, prices, strategies, strengths, weaknesses
Marketing intelligence helps you answer questions like:
- Who are your target customers and what do they want and do?
- What are the current trends and opportunities in your market?
- How do you compare to your competitors and how can you differentiate yourself?
- What are the best ways to reach and engage your customers?
- How effective are your social media campaigns and how can you optimise them?
Marketing intelligence is important for social media marketing because it gives you a foundation to base all of your social media decisions and actions on. By collecting and analysing contextual data about customer and industry trends and behaviours, you can gain a holistic understanding of what is and isn’t working on social media.
Marketing intelligence can also help you:
- Identify and target the most profitable customer segments like geography, demographics, interests
- Create and deliver personalised and relevant messages and offers
- Increase customer loyalty and retention
- Reduce costs and increase ROI
- Test and measure your social media strategies and tactics
How to Collect and Analyse Marketing Intelligence Data for Social Media Marketing
To collect and analyze marketing intelligence data for social media marketing effectively, you need to:
- Define your objectives: What do you want to achieve with marketing intelligence? What questions do you want to answer? What goals do you want to set?
- Identify your sources: Where can you get the data that is relevant to your objectives? What tools or methods can you use to collect it?
- Integrate your data: How can you combine data from different sources into a single platform? What format or structure do you need to use?
- Analyse your data: How can you interpret the data using advanced tools and techniques? What dashboards or reports can you create to visualise it?
- Use your data: How can you apply the insights from the data to make informed and data-driven decisions and actions? What recommendations or actions can you make based on the data?
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