Tracking Competitor Metrics Could Change Digital Marketing Intelligence
Hot off announcing it raised $6.5 million in its last round of funding, marketing intelligence platform TrackMaven may be the next big thing in business intelligence.
Unlike the majority of analytics programs, TrackMaven offers big brands the capability to look outside their own personal marketing efforts and gain an understanding of what’s working for their competitors. By aggregating data from numerous sources, like owned, earned, and paid media, the software suite lets big brands create competitor profiles against which they can benchmark their own efforts and adjust their strategy accordingly.
Targeted specifically at large, enterprise level corporations and sporting clients like AOL, the NBA, and Eddie Bauer, TrackMaven may be the platform that changes the way big brands market content and compete with smaller, more agile organizations.
Current digital marketing analytics focus on granular metrics related to onsite visitor behavior or how a company performs on social media through brand mentions. TrackMaven builds on this logic by providing the same type of tools and extending them to track how the competition fares in their digital endeavors by supplying real time data updates.
For users, this data might look like:
- How often your competitor was mentioned on major news programs this week
- Percent increase in your competitors’ inbound links this week versus your own
- Whether your competitors started new Google Ads campaigns
TrackMaven has made impressive strides since its founding in 2010, and the future looks promising. The company’s CEO said new software upgrades would include better data exporting features and increased integration with existing business intelligence programs.
Despite the surge in business intelligence software, digital marketing data on competitors is mostly still gathered through observation and research, which consumes a great deal of time and produces limited data. If TrackMaven proves successful, that may be a thing of the past.