LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their recent free downloadable resource on how social listening is a great way to enhance competitive intelligence. This free supplement provides key insights into why social listening is essential for modern brands to build effective competitive intelligence strategies.
It’s now easier than ever before for brands to understand their customer needs with the help of social media platforms that provide useful information on customer behavior and other latest trends in the market. Keeping a close watch on customers through social media platforms provides brands with insights on customer sentiments and perception of competitor products when compared to their own. Therefore, social listening is an ideal way to understand competitor strategies and also improve the brand’s marketing strategies.
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Role of social listening in competitive intelligence
Understand how competitors are responding to latest trends
It is essential for brands to evolve according to the changing market trends in order to stay relevant. Analyzing social media conversations between different brands and their customers helps marketers identify emerging trends and also evaluate how competitors respond to them.
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Identify new competitors in the market
Several emerging and new companies are already disrupting the business of bigger companies. So, keeping a close watch on competitor strategy is essential for brands to survive in the market. Using social listening to track mentions in a specific industry or category helps them stay updated about the top companies in different markets.
Know who the competitors are collaborating with
Social media influencers are helping top brands to boost their reach, build trust in their brand, and increase sales. Social listening enables marketers to find the right influencers for their brand based on metrics such as follower strength, engagement rate, and overall popularity in a category. In addition to finding the right influencers, social listening can help brands understand competitor influencer marketing strategies to identify improvement opportunities.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us