Good advertising is delivering the right message to the right audience in the right way at the right time. It sounds relatively simple, but the reality is there are a lot of variables at play that can cost a lot of money to get right. Even when you get the mix right, consumers and markets are complex and dynamic, requiring you to make the right changes on the fly.<\/p>\n\n\n\n
Given the seemingly endless uncertainty since 2020, being able to identify, understand, and target your buyers efficiently can provide a significant competitive advantage. It\u2019s hard work, so, why not let your competitors do the work for you?<\/p>\n\n\n\n
Competitive intelligence is the spy behind enemy lines, or better yet, the codebreaker that keeps you in the know and ahead of the game on your competitors\u2019 moves. You\u2019re likely already gathering this information but in an inefficient and largely ineffective manner. Allow me to explain.<\/p>\n\n\n\n
Looking at a competitor\u2019s push notifications? Reading their blogs? Understanding how they have their app onboarding process set up? You\u2019re doing recon, a.k.a. gathering competitive intelligence (CI). Knowing what your competitors are executing on in the market and how they\u2019re doing it is now table stakes. It provides context and ideation, enabling you to emulate their success or zig when they zag. In other words, CI allows you to steer clear of their slip-ups and join the party when they succeed.<\/p>\n\n\n\n
Anyone with an internet connection can execute on CI, but there\u2019s a difference between doing it and excelling at it. The amount of time needed to do this without a tool is frankly unscalable and doesn\u2019t give you the full perspective or match rate of learning you need to stay ahead of the market.<\/p>\n\n\n\n
Imagine you are trying to glean information from both your own app reviews and the reviews of a few competitors. How long would it take you to analyze a substantial sample size and be able to come away with real takeaways, feeling confident in the key problem and success areas? CI tools provide perspective quickly, so you can spend more time executing and less time researching.<\/p>\n\n\n\n
I get it. You have loads of first-party data and you view this as your competitive advantage. First-party data is fantastic, but it is not a silver bullet. As an app marketer, you need to know what\u2019s happening outside<\/em> your own four walls. <\/p>\n\n\n\n You don\u2019t want to miss out on critical market learnings or shifts in what\u2019s most effective right now<\/em>. No one wants to lose market share because they were asleep at the wheel. Learning from first-party data is a must, but it\u2019s one-dimensional. Without more perspective, you will likely build a lower ceiling for yourself regarding user acquisition goals or milestones. CI (third-party data) enables you to have more data without the cost of acquisition, learning, trial and error, failure, etc. Used in combination, first and third-party data can validate (or refute) things you see in your data, helping you make better-informed decisions.<\/p>\n\n\n\n Another major benefit is learning more about your customers and expanding your addressable market. Everyone knows their obvious personas. Take Strava; I\u2019m betting they know runners and cyclists make for ideal customers for their app. But maybe Strava should also target people who like cooking healthy meals at home or camping several times a year. People are complex, and it\u2019s hard to know all the nooks and crannies of what a loyal user looks like.<\/p>\n\n\n\n