5. What’s our markets’ seasonality (and how do I respond to this?)
Arguably, every industry has a certain degree of seasonality to it. The travel industry is a very obvious one, but even day-to-day products such as groceries prove to have some seasonality when you compare Christmas revenue with any other period of the year. However, for some markets it is less obvious when the favorable buying periods of their clients (and thus the favorable advertising periods for marketers) take place. Competitive intelligence with regards to paid advertising could provide insights into the periods that business is booming in your industry. With this information, you could make one of two decisions. Firstly, you could increase your advertising spend during the same periods that your competitors are pushing in order to compete with them during the moments that matter. However, you could also decide to increase your advertising during a period when there is a relative low amount of spend in the market in order to have the highest share of voice relative to your competitors during that period. Whichever you choose, it starts with the intelligence.
The competitive insights provide above are aimed to help you gain the most out of your data. More, but specifically better information helps you to actively evaluate and improve your online strategy in order to get the maximum value out of the digital landscape.