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TechHow NetBase Quid’s market intelligence tool helps businesses to succeed

How NetBase Quid’s market intelligence tool helps businesses to succeed

Every business wants to be successful. That means being a step ahead of your competition. But how do you keep up with the market and know what your customers are doing? With NetBase Quid, you’ll now have the edge over the competition.

NetBase Quid is a market intelligence tool that connects online data about customer behavior to other sources of information about what people are thinking and doing. It enables marketers to describe the emotional connections that drive purchase decisions in real-time and measure messaging more accurately.

NetBase Quid is an entirely new market intelligence tool that brings together three types of information: data, insights, and action steps. These three elements are interdependent because they reflect consumers’ thoughts, feelings, beliefs, and behaviors.

Consumers make purchase decisions based on their values and beliefs. These beliefs are communicated to them through messages that define who they are and what they care about. These messages also convey how valuable the product is, the benefits, and how easy it is to use (the value proposition).

Marketers need to understand all of these consumer dynamics to develop and deliver the right message to them at the right time.

Data

Quid captures consumer data in real-time and connects it with offline consumer interactions like surveys, conversations, and Web behavior, resulting in deep insights into consumer attitudes, behaviors, and perceptions. Data is a critical part of any market intelligence tool. Only by having access to data can businesses know what the consumers are doing and, more importantly, what they think.

Insights

Insights are the end-to-end view of your product, service, and company. They’re detailed, high-resolution information that shows how to speak your client’s language, how they behave, what they want, and how they feel. Insights are essential to understanding what your customers will do and respond to in the future. For example:

Interactive technology is critical for a successful Web site and has become especially important for companies selling online products (like NetBase Quid). Interactive technology enables buyers to interact with the product or service offered by a company. In other words, it allows people to check out, try on, and buy something online. Interactive technologies have become a vital tool for marketing companies and are an essential part of any successful Web site.

Action steps

Action steps are specific actions a business can take to achieve its business goals and make the most impact on its customers. Action steps are also an essential element of any market intelligence tool because they allow companies to take the insights they learn and use them to improve their success in the marketplace.

For example, suppose your research shows that customers are complaining about how long it takes for products to be delivered. You can reduce the time it takes for products to be provided by using a trucking service that comes closer to their location. Customers will be pleased with this change because it saves them time, money, and stress. It will save your company a lot of money and a lot of hassle. This is where action steps come in. You could talk to a trucking company about the benefits of using them for delivery.

In this example, there were two different ways that you could do it:

1) Talk to the local trucking companies and ask how their services compare with those of other trucking companies.

2) Talk to the local trucking companies and find out how they rate other trucking companies.

Option #1 can help you understand certain market aspects, but it doesn’t help you make a better decision about what to do from there. 

Option #2 is crucial because it enables you to evaluate options that are, in reality, very different. It compares and contrasts the characteristics of other services and helps you understand what’s best for your company.

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