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Who's Responsible For Marketing Intelligence?

Companies are taking aggressive steps to improve their use of data, not only to achieve their marketing goals but to make better tactical and strategic decisions along the way (which can reduce cost and operational inefficiencies dramatically).

When it comes to data gathering around marketing intelligence (which includes competitive intelligence), however, only 56 percent of small businesses with 11 to 50 employees indicated they dedicate someone to the task according to Crayon's 2018 State of Market Intelligence Report.

It's an even worse situation for enterprises with 1 to 10 employees - just 32 percent of those businesses engage in some manner of the practice.

Two other interesting data points revealed in the study were that 1) 77 percent of respondents said holistic intelligence on competitors is necessary for successful market intelligence programs, and 2) 79 percent stated it is just as critical to gather the data in a timely manner.

The takeaway? Do the research, and make sure it's detailed and up to date.

So how are businesses actually engaging in marketing intelligence?

When it comes to the type of data they tracked, according to Crayon, 93 percent identified competitor websites, while 88 percent identified content accounts, 87 percent identified social media accounts and 84 percent identified news sites as the things they tracked the most.

What has been your experience as someone responsible for gathering marketing intelligence? 

Is there some data you can share with others at your business that could make a positive impact?

Submit a comment below to share your insights...

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