Brand Monitoring Archives - Business Intelligence

Tag: Brand Monitoring

Tips to Stay Clear of Loopholes in Your Brand Strategy

A recognized and loved brand is one of the most prized assets of a company. A company’s brand strategy defines what they stand for and is primarily aimed at creating a particular image of itself in the minds of current and potential customers. So, it is an integral element for modern businesses in order to thrive in today’s highly competitive marketplace. A well-defined and executed brand strategy framework affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments. Here are some rules for businesses to keep in mind while building their brand strategy:

Be specific

Today’s markets are highly fragmented and noisy with a large number of players doing their part to be heard and recognized by customers. In this chaos, the only way brands can stand out in the market is to have a bigger marketing budget than the peers or to get the right message out to the right audience. For most companies, an increased marketing budget might not be a viable option. So, it would prove beneficial to create a brand strategy framework by targeting the right customer with the right message.

Take risks

Risk is an inevitable factor for any business. With so many companies fighting for the same chunk of market share, it is essential for enterprises to go out of their way and place their bets on new and innovative strategies. Taking risks is a great way for new and emerging brands to earn authority in the industry. A good brand strategy will also force businesses to take difficult decisions.

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Empathize with customers

It might sound obvious, but many players in the market still fail to do this, eventually leading to loss of customers to other smart counterparts in the market. Today, it is not just important for brands to get into the minds of their customers, but they must also put themselves in their customers’ shoes while building their brand strategy. Empathizing with the customers will help enterprises to uncover the triggers, behaviors, and beliefs that will underlie their brand strategy.

Consistent communication

Consistent messaging with the customers is an ideal way to resonate with the company’s target audience. This includes factors such as the tone that has been used in the copy to the way customers are addressed. The company’s brand strategy must focus on strong messaging tactics by developing a clear promise to the audience.

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Identify channels for engagement

 Modern customers relate more to the brands that they can constantly interact with. Customers want to stay in touch with the brands of their choice, be it connecting to the brand through social media or using the company’s website to customize their products. It is up to the brand in choosing how to keep the customers engaged. Companies can use a highly engaging brand strategy such as offering online customer support, running contests, and asking for customer feedback through online platforms.

For over a decade, Infiniti’s market intelligence solutions have been helping clients around the world construct the right brand strategy framework to thrive in the market. Get in touch for more insights on our solutions.

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Why Is Web Scraping for Brand Monitoring Essential in the Retail Industry?

Modern businesses possess a humongous amount of data – both structured and unstructured. As far as a business is concerned, data plays an instrumental role in driving growth, development, and innovation within the company. But the data that enterprises possess comes handy only if they are structured and the company can derive value from it. This is where web scraping comes into the picture. Web scraping helps in extracting unorganized data and converting them into organized and manageable formats. This is especially useful if your brand is being talked about on multiple platforms or ways (social media, expert forums, comments, etc.), in which case you can set the scraping tool algorithm to fetch only data that contains reference about the brand. As a result, marketIR_Brochureers and business owners can gauge brand sentiment and tweak their marketing campaign to enhance visibility.

How can retailers use web scraping in their business?

Web scraping has been revolutionizing the use of big data in business. The retail industry is one of the most benefited sectors with this tool. Here are some of the applications of web scraping  that retailers can use for brand monitoring :

Determine pricing strategy

The growth in the number of players in the market is resulting in retailers competing hard with one another to stay ahead of the growth curve. Using web scraping techniques, companies can crawl price comparison sites’ pricing data, product descriptions, and images to receive data for comparison, affiliation, or analytics. This gives retailers the opportunity to trade their products at competitive prices and increase profits.

Track online presence

In this digital era, prospective customers research online about a company’s brand value and the products before making a purchase. Hence, it is essential for modern businesses to establish an online presence. Web scraping helps firms to achieve online brand intelligence and monitoring by providing a crystal clear picture of product performance, customer behavior, and interactions.

Detect fraudulent reviews

Product reviews have become a testimony which most customers consider before making a purchase. However, not all the reviews written about a particular product might be authentic. Web scraping helps companies to identify opinion-spamming, thus figuring out fake reviews. It further helps in reviewing, streamlining, or blocking reviews, according to the business needs.

Online reputation management

With social media going mainstream,  the online reputation can either make or break a brand. So, it is vital for businesses to continuously undertake brand monitoring on digital platforms. In web scraping, a web crawler identifies demographic opinions such as age group, gender, sentiments, and geo-location, helping retailers learn about both the impactful as well as vulnerable areas for online reputation management.

Advantages of web scraping for the retail sector 

Web scraping provides some significant benefits to companies in the retail industry  :

  • Provides improved customer insights
  • Helps to monitor competition
  • Allows companies to stay informed about latest comments about the business on social media
  • Mends the communication gap between customers and the brand, thereby improving the consumer satisfaction

To know more about web scraping for brand monitoring in the retail sectorAsk an analyst


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