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How your business can use market intelligence to get ahead, stay
competitive and prosper
ETAG conference - 25th January 2011Edinburgh
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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
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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
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• 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
Types of Market Intelligence and sources 1
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• Trends: - business networks, internal, Google analytics, Insights, TIS etc.
• Markets and opportunities• Bigger picture – volume and value• News items and world events
Types of Market Intelligence and sources 2
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Are you using intelligence?
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• Kingsfield Golf Centre
• Carnoustie Golf Hotel – Chinese market
Who is using it?
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• Using seasonal/local produce
• Dubh Prais • Amber at Scotch Whisky
Experience• Shetland wildlife
So What…?
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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
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Other resources
• TIS workshop April 2011• Tourism Innovation Fund• Tourism Innovation Workshop• Listening to our Visitors workshops• ETAG Business Opportunities series
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Register Now!
www.tourism-intelligence.co.uk