Having a good understanding of the statistics and numbers drawn from a media intelligence agency is important to your business. This is especially true if you want to map out where certain media trends are, learn about your competition and see where your business has grown or gone backwards.
Media intelligence is frequently used by businesses to draw vast amounts of data for analysts to look at. This data includes statistics that are vital for any organisation’s marketing or PR strategy, as it allows them to see how they measure up against their competitors, as well as manage their brand’s reputation.
However, that’s not all these statistics can reveal about your business. We’ve compiled three reasons why all companies should love the statistics pulled from Focal Points reports.
Here they are:
1. Statistics help you identify media trends
At Focal Points, we utilise AI technologies such as Natural Language Processing and machine learning to track media trends and data that surround your brand as well as your industry. This data is then compiled into a statistical Media Trends report.
With this report, you’ll be able to see exactly what your consumers are currently talking about, which gives your business the insights it needs to develop new marketing strategies. You’ll also be able to identify spikes in your media coverage to see where your content needs a bit more work, and where it’s doing well, allowing you to improvise your strategy accordingly.
2. Statistics indicate where your competition is
If you make use of stats, you will be better equipped to see how your competitors are performing with their campaigns and advertising efforts. For example, if you both offer the exact same product and find that they have more consumers, you will be able to pinpoint why, with the help of stats.
At Focal Points, we make use of Brand Benchmarking reports, which compare the amount of coverage you receive to that of your competitors. This is a great way to spot new opportunities, as you can see where they are currently placing campaigns and where they’re not, which betters your own chances within the industry you work in.
3. Statistics show areas of growth for your business
If you want to be able to see where your brand’s campaigns, events and product launches have grown or been standing still, then our Ad Hoc reports will definitely be able to tell you where you need to place your focus.
For example, if you see your brand’s campaign is flourishing in one specific area, you can keep the strategy there intact but if you find that your product launch is lacking, you can place more focus on that.
Overall, statistics are able to keep you informed and allow you to better divide your attention to the places that require it.
If you want to learn more about ways to decipher and understand the data surrounding your competitors, then be sure to read What is brand benchmarking? And why is it vital for a brand?
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