How can investigating your market help you?
Researching the environment your business operates in – and importantly, how your competitors are doing – gives you an excellent benchmark to profile your business against. You need to know as much as you can about your competitors – whether these are regional or national, new or established.
Having access to the data that allows you to see who is performing well in your marketplace allows you to monitor their marketing activity and perhaps use what they’re doing well as inspiration for your own future campaigns – after you’ve made it even better of course.
Likewise, if someone appears to be doing badly in recent months, the information contained within Red Flag Alert, combined with a the results of a few internet searches and industry rumour, can help steer you away from making a similar mistake with your own messaging and targeting.