When insights are used to drive the marketing strategy, it can help achieve specific goals, such as increasing brand loyalty and generating more sales. You can find insights from many sources, such as customer data, competitor analysis, and even cultural or social trends that influence consumer behavior.

To gain insights marketers mix their personal experience from work or life with meticulously collected and analysed data sets. This process, which is referred to as market research, must be conducted in such a way that the data adds value and spurs an action plan. It is important to remember however that the term “insight” is not to be used in conjunction with raw data or general knowledge. Insight should help to better understand current and future buyers, allow for informed decisions regarding growth strategies and help identify innovation opportunities.

Insights allow resource optimization by focusing on areas with the greatest potential, and eliminating waste from less promising ones. They let businesses measure their performance against the industry standard and competition, allowing them to improve over time. By uncovering trends and forecasting future trends data can aid in planning long-term plans.

There are many kinds of marketing, from traditional word-ofmouth campaigns to social media advertisements. It can be carried out by a company or third party agency that is tasked with creating strategies for their clients’ marketing like agriculture or tourism (B2C), or for an entire sector of the economy, for instance B2B. For instance If your business sells power tools, it might be sensible to advertise your products in stores for home improvement or to general contractors.

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