What is marketing intelligence?

Marketing intelligence refers to the information that can be gained by performing market research, and this involves the collecting and analyzing of data and information that applies to an organization's specific market, target audience, and competitors to make well-informed marketing strategies and decisions.

Here are some of the practices that go into marketing intelligence:

• Identifying a target audience

This step is crucial in marketing, companies must start by determining the target audience that they want to promote their specific brand, product, or service. This includes performing market research to understand their competitors and gain insights into their target audience's specific needs and preferences.

• Determining market trends and opportunities

When companies analyze data concerning marketing trends and consumer behavior, they can often identify new marketing opportunities and stay current with popular trends in the field.

• Set marketing goals

Companies also utilize marketing intelligence by figuring out what their goals are for the marketing efforts they are going to employ. Some common goals in this area include generating leads, driving or increasing website traffic, and boosting sales and revenue.

• Developing a strong marketing strategy

Using the market research they have performed informs their plans for marketing strategies and allows them to create comprehensive marketing campaigns that will reach and engage with their target audiences and achieve the goals they have set. This might include methods like:

• Social media marketing

• Search engine optimization (SEO)

• Direct mail marketing

• Email marketing

• Paid ads

• Other forms of digital marketing

The more detailed the approach companies take to their marketing strategies, the better the results will often be.

• Creating an online presence

Companies then use their marketing intelligence information to build an online presence by creating a website that attractively promotes their products or services and ensures it is optimized for online search engines.