Competitive Benchmarking: How Social Intelligence Monitor and Analyze Competition

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All businesses compete with other businesses, and the speed of decision change activities to achieve a higher level of value is essential to success. Point-of-sales data is valuable to adjust product-mix, but it measures the result of marketing and promotion and cannot forecast. QSearch is helping enterprises measure consumer’s reactions to marketing and promotion activities before sales occur. This helps forecast and benchmark performance and expectation.

Social intelligence is a measurement of the signal that reaches the consumer (commercial, promotion, posts, influencer) and the measurement of the consumer’s reaction to these messages (Engagement, sharing, comment, and click thru.) This is a tighter feedback loop than the marketing and promotion stimulus to the purchase behavior. A standard promotion to the sales cycle may take weeks to generate an indicator, while a social intelligence leading indicator can create a demand estimate in days.

In addition, Social Intelligence is created with publically available data, so we can create benchmarks for the business and its competitors without having access to privately held data. (See When Data Have Sex series for more details.) This feature allows a business to have its own leading indicator as well as benchmarking against its competitors, and to a further extend, understand its competitor’s efficiency and bottleneck.

How is this achieved? QSearch measures the gain and loss in the entire marketplace because our platform has all the data. Social influence offers a fast and immediate way to visualize the relative brand power, gain in consumer perception, and potential for expanding the market. Our benchmark is a leading indicator of revenue, and it uses social media and social engagement as a proxy to how the audience is responding to the company’s message, and also measures the company’s ability to engage the media, and ultimately, understand how healthy is each stage of the promotion-sales cycle.

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