Are you gathering your market intelligence?

There’s no doubt about it, market intelligence is an important component of doing business. But when it comes to gathering marketing intelligence, only 56% of small businesses with 11 to 50 employees dedicate someone to the task. And only 32% of businesses with 1 to 10 employees do so. In the recently published 2018 State of Market Intelligence Report, Crayon CMO Ellie Mirman says the data is there because of the online presence companies have. She goes on to explain, “Market Intelligence is quickly becoming indispensable for successful businesses, and understanding its importance can make you or break you in today’s ultra-competitive market.” The report identifies that holistic competitive intelligence is important when it comes to winning. 79% of those businesses questioned stated it is critical to gather the data in a timely manner, and when it comes to tracking competitors, 93% identified competitor websites, while 88% identified content accounts, 87% identified social media accounts and 84% identified news sites as the things they tracked the most.