Market Intelligence visualises your commercial opportunity, competitor landscape and seasonal trends.
A Market Intelligence (MI) dashboard is calculated on the dataset you choose while building the dashboard. No sampling or scale assumptions are included.
Market Intelligence is a brilliant strategic tool. The structure of the data that feeds Market Intelligence is intrinsic to the quality of the output. Getting this correct is essential.
This page offers support on how to get the most from Pi MI.
Background
Market Intelligence either reports on a weekly or a monthly basis. During the selected periods, random snapshots are taken in the week to build intelligence. A single Market Intelligence can be incredibly big analysing up to 250 million points of data for a single update. There is a stagging amount of processing that goes on behind the scenes and we’re committed to delivering the updates in a timely manner.
There is an option to create recurring MI views during the setup process. These update every Monday. This is great to always have the most up-to-date data processed and available.
Organic Value Score
Using Pi Market Intelligence, we analyse the most commercially valuable search terms within particular sectors.
Our Organic Value Score is the formula we apply to every individual search term within Market Intelligence to determine their commercial value and potential to convert.
This is achieved by assessing key conversion metrics for each search term, including search volume, cost-per-click, and competition in the market. Not focusing solely on search volume allows us to accurately attribute value to search categories.
First-time and non-recurring MI
The first time you set up an MI or when you select non-recurring. MI will immediately begin to process and include the date from the month or week that was just completed.
Weekly updates
If you select weekly for your MI. Updates will be accessible first thing Monday morning (UTC±00:00). This will include data from the week that was just completed on Sunday. This matches Pi’s tracking and reporting update frequencies.
Monthly updates
Monthly updates are ready on the 1st of each month and include the month that was just completed.
Current week MIs for new data
You can utilise new daily data to process an 'out-of-cycle' MI on the current week's data. This is particularly useful if you need to run intelligence on a quick project-by-project basis. The preview Mi will then be re-synced on the next process point i.e weekly or monthly. Current week MIs will only run with daily data selected as the speed of delivery is reliant on the slowest tracking frequency, for example, if a Daily and Weekly workspace is selected then you will need to wait until the weekly data has been tracked to run intel.
Search volume
We collect search volume from Google Keyword planner. Google traditionally has a lag on this data, thus the lag in our charts that use pure search volume. We’re working on the capability to forecast this in order to make predictions on the missing data.
Close Variants
What is a close variant?
This is either a plural version of your query (e.g. ‘Mobile phone’ vs ‘Mobile phones’) or a keyword phrase with a similar theme or composition (e.g. ‘SEO’ vs ‘Search engine optimisation’)
Where to find Market Intelligence
You can find Market Intelligence in the 'dashboards' drop-down of the navigation.
Important considerations before you start
Average Conversion Value (ACV) & Conversion Rate (CR)
ACV for retail: This would typically be the average cart value of a shopper.
ACV for lead generation and B2B sites: This would be the estimated lifetime value (LTV) of a contract.
CR: Traffic to order/transaction conversion rate.CR should be considered as traffic to goal completion, then goal completion to sales. Therefore if you convert 10% of traffic to a goal and 10% of those leads to sales, the CR for MI is 1%.
There are many ways to set up your MI dashboards. Here are some examples:
International view
By integrating your international tracking you can create an MI view that offers a single, global performance insight. Use this to identify relative values of markets, and your competitors’ strengths in those markets.
Setup considerations:
Workspaces are set up as markets
Categories are set up within these markets
ACV analyzed on a global scale
CR analyzed on a global scale
Market view
Use categories and sub-categories to explore product lines or departments, and their relative commercial value.
Setup considerations:
Workspaces are set up as categories (you may also think of these as departments, product/services, content categories etc.)
Sub-categories are setup within these categories
ACV analyzed on a site-wide scale
CR analyzed on a site-wide scale
What if?
If you’re feeling adventurous… Test out the commercial consequence of increasing Average Order Value and improving Conversion Rate.
Setup considerations:
Workspaces are set up either as markets or categories
Choose a theme and create different MI views with the same data structure, but with varied CRs and ACVs – i.e:
Low CR and ACV
Expected CR and ACV
High CR and ACV