Perform Effective Competitor Analysis with Online Data Collection Services The volume of data produced daily has increased manifolds, thanks to the data-producing technological innovations and internet users. Significantly growing technology and data have created immense opportunities for businesses; thereby elevating the importance of data-driven decisions and turning them into a vital competitive advantage. Hence, the online data collection process becomes an integral part of organizations, irrespective of the industries or verticals they deal in. Be it the aggregator startups, small and mid-sized businesses, or global corporations, an effective online data collection process in place helps them carve a unique niche in the industry. They enjoy a plethora of benefits as elucidated here: ·
Perform Competitor Analysis
Implementing a rebate offer at the right time surely drives greater sales; or else, it is the lost revenue. Online data collection insights help you perform competitor analysis−understand your competitors better, know their pricing models, and sales pitches leveraged to attract consumers. Hence, you can also develop consumer-friendly pricing strategies and an effective sales pitch that helps you gain big wins in the industry. ·
Create Targeted Advertisements
Insights retrieved from online data collection helps marketers with easy customer segmentation. Based on this classification, they create targeted advertisements and optimized campaigns that generate sales qualified leads (SQL) across the sales and marketing funnel. This consequently increases the prospect conversion rate and maximizes ROI. ·
Understand Consumers Better
Companies gain useful insights about their consumers such as age, gender, birthday, and other important events in their life. This helps them understand their consumers better and accordingly, offer customized products and services. After all, ‘value for money is the key to unlocking customer loyalty and reducing customer churn out rate.