If insights are used to drive the development of a marketing strategy and strategy, it can help in achieving tangible goals like increasing brand loyalty and closing more sales. The information can be gleaned from a variety of sources, including customer data, competitor research and even the cultural or social changes that affect consumer behavior.
Marketers mix their personal experiences and utilize data sets that are collected and analyzed in a systematic manner to gain insight. This is referred to as market research and should be conducted in a manner that the data provides value and inspires a specific method of action. It is important to keep in mind that the term “insights” should not be confused with general knowledge or raw data. Insight is a way to better comprehend the needs of buyers today and in the future make an informed decision on growth strategy, and recognize innovation opportunities.
Insights help optimize resources by focusing efforts on areas with the greatest potential and eliminating the waste from less promising areas. They also allow performance benchmarking against industry standards and competitors that allow companies to improve their practices over time. By providing trends and forecasting future conditions, insights can guide long-term plans.
There are numerous kinds of marketing, ranging from traditional word-of-mouth campaigns to media ads. It can be executed by a company directly or through a third-party agency tasked with creating strategies for marketing their clients (B2C) or on behalf of an entire sector of the economy like tourism or agriculture (B2B). For example when your company sells power tools, it would be beneficial to promote your products in the home improvement stores or to general contractors.
https://www.syedmarketingblog.com/creating-the-squeeze-page-part-2