Best Market Intelligence Tools In 2023 For Detailed Insights
Do you want to build a top-notch brand for your business and drive exponential sales? If yes, then you must get your hands on Competitive and Market Intelligence Tools today! These tools not only help you understand your social media performance and analytics but also give you in-depth detail on customer needs, trends and help you stay one step ahead of your competitors.
You’re at the right place. Here, we’ll take a look at some of the top Competitive and Market Intelligence tools that are sure to give you the insights you need to make informed decisions. So, whether you’re looking for a Market Intelligence tool to help you track your competition or to gather data on your target market, we’ve got you covered. So what are you waiting for? Scroll Down! !
What are Competitive and Market Intelligence Tools?
Competitive and Market Intelligence Tools allow businesses to track, collect, sort and store data about their business, customers, performance and even competitors. Such tools also offer a centralised platform for all competitive and market intelligence.
Why do you need Competitive and Market Intelligence Tools?
- Despite the fall of many industries worldwide during the pandemic, the global competitive intelligence tool industry saw a boom of whooping 9.4% in 2020.
- The market is projected to grow from USD 41.2 million in 2020 to USD 82.0 million in 2027 at a CAGR of 10.3% in the 2020-2027 period.
These great numbers explain the demand of competitive and market intelligence tools today. But why does your business need it? How does having a Competitive and Market Intelligence Tool help?
Here are the answers to your popular questions,
The Competitive and Market Intelligence Tools
- Helps gain a better understanding of the market you want to penetrate
- Better insights on Customer psychology and needs
- Overview on Product Intelligence
- Gives you an edge by providing information about your competitors
- Helps in improving customer satisfaction and customer retention rates
Best Competitive and Market Intelligence Tools In 2023 For Detail Insights
If you’re serious about marketing, then you need to be using the best market intelligence tools available. In 2023, there are a few key tools that will give you an edge over the competition.
3. Similar Web
4. Google Alerts
You can directly check out the tool you’re interested in by clicking the link above or follow along with us!
Locobuzz is a great competitive and market intelligence tool for understanding the factors that build or break your brand. It also gives insights on what’s resonating with your audience, how your product is received by them, and strengthens your reach by providing real-time analytics.
Awesome features of Locobuzz:
- Helps Develop Consumer Insights
- Optimises the Customer Journey
- Enriches the Customer Experience
- Insights on Visual Market Intelligence
- Detects & mitigates risks
SemRush is an all-in-one marketing tool. Their Competitive Research tool helps you compare your rivals and breakdown your competitors strategy, which helps you in evolving your business strategy.
Awesome features of SemRush:
- Monitors visits, bounce rate, traffic sources of your competitors landing page
- Analyses the markets
- Gets an edge over competitors with detailed insights
SimilarWeb is a powerful market intelligence tool that lets you see how your website stacks up against your competitors, gives you information on emerging competitors and what strategies they are dominating. It is great for Funnel visualisation as well.
Awesome features of SimilarWeb:
- Provides SEO audit
- Analyses and accurately measure the engagement
- Regulates entry and exit pages
- Measures bounce rate
- Helps in Funnel visualisation
4. Google Alerts
Google Alerts is a free and original Competitive and Market Intelligence tool that allows you to monitor the web for mentions of your brand, keywords, and gives you insights on significant industry news.
Awesome features of Google Alerts:
- Monitors the web
- Tracks your Competitors
- Updates you with Industry Trends
Ahrefs is a comprehensive market intelligence tool that helps businesses learn about their competitors’ content along with backlinks, PPC ads, keywords etc. It helps you find the gap between you and your competitors.
Awesome features of Ahrefs:
- Helps find Content Gaps
- Reviews backlinks
- Insights on competitors PPC ads
Crunchbase helps businesses in understanding the Industry leader and their strategies. It is a Competitive and Market Analysis tool that helps you track your competitors every move.
Awesome features of Crunchbase:
- Seamless integration with other tools
- Insights on Industry leaders
BuzzSumo is a great Competitive and Market Intelligence tool for analysing content performance and understanding what’s working well for your competitors. It’s the best content-oriented competitor analysis tool.
Awesome features of BuzzSumo:
- Helps in Content Research & Content Discovery
- Great at Content Monitoring
- Helps browse influencers
MOAT is a tool that provides in-depth analysis of digital advertising. It takes care of analysing your competitor’s creative strategy and derives its creative history which helps you get in the minds of your competitors.
Awesome features of MOAT:
- Helps in Data Unification
- Offers real-time market analytics
- Provides up to 3 years of competitor’s creative content
Summing it up
Competitive and Market Intelligence tools are no longer an option but rather a need. To stay ahead of competition, one has to invest in great competitive and market intelligence tools that offer them great insights and help them in making better informed decisions.
Locobuzz is one such tool you don’t want to miss up on. Request a demo at Locobuzz today and then make your decision. If you’re looking for an all-in-one comprehensive competitive intelligence tool, connect with Locobuzz today.