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How your business can use market intelligence to get ahead, stay competitive and prosper

ETAG conference - 25 th January 2011 Edinburgh. How your business can use market intelligence to get ahead, stay competitive and prosper. 2. Market intelligence. Market intelligence enables you to understand your sector, your customers and your future potential.

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How your business can use market intelligence to get ahead, stay competitive and prosper

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  1. ETAG conference - 25th January 2011 Edinburgh How your business can use market intelligence to get ahead, stay competitive and prosper 2

  2. Market intelligence • Market intelligence enables you to understand your sector, your customers and your future potential. • Market analysis gives insight into the trends and consumer behaviour that will shape tomorrows’ markets. ...to get ahead, stay competitive and prosper 3

  3. Why is it important for you? • Market and customer orientation – promote external focus • Customer retention • Better visitor interaction – improve the visitor experience • Identification of new opportunities and markets – e.g. identify new trends before competitors • Early warning of competitor moves – enable counter measures • Better market selection & positioning • Improves ROI: marketing, capex and more broadly. • Fuels innovation and improved decision making 4

  4. Types of Market Intelligence and sources 1 • Visitor and staff feedback • - guest book, UGC, SurveyMonkey • - team meetings – ask when staff • say “No, sorry” • Visitor profiling • - ask your visitors: origin, motivation • e.g. www.pitmilly.co.uk • - published data 5

  5. Types of Market Intelligence and sources 2 • Trends: • - business networks, internal, • Google analytics, Insights, TIS etc. • Markets and opportunities • Bigger picture – volume and value • News items and world events 6

  6. Are you using intelligence? 7

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  8. Who is using it? • Kingsfield Golf Centre • Carnoustie Golf Hotel – Chinese market 9

  9. So What…? • Using seasonal/local produce • Dubh Prais • Amber at Scotch Whisky Experience • Shetland wildlife 10

  10. Practical tips - using intelligence • Brainstorm with staff on issues • How do you react to trends of healthy eating, localism • Do you look at your competitors and comparators • Read about budget airline route, or the pandas- what does that mean to me? • Raise trend at industry meeting to investigate collaborative opportunities • Capital Group, Business Opportunities 11

  11. Other resources • TIS workshop April 2011 • Tourism Innovation Fund • Tourism Innovation Workshop • Listening to our Visitors workshops • ETAG Business Opportunities series 12

  12. Register Now! www.tourism-intelligence.co.uk 13

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