If a marketing strategy can be driven by insights and data, it allows for quantifiable improvements towards goals such as building brand loyalty and closing sales. The insights can be gleaned from numerous sources, including customer data or competitor research, and even cultural or social trends that influence the behavior of consumers.
Marketers draw on their own experiences with data sets that are collected and analyzed thoroughly to gain insight. This process, called market research, should be conducted in a way that the data adds value and spurs an action plan. It is important to remember however that the term “insight” isn’t to be used interchangeably with raw data or general knowledge. Insight is a way to gain a better understanding of the current and future buyers in the market, allowing an informed decision-making process for growth strategy and identify opportunities for innovation.
Insights allow for resource optimization, focusing efforts on areas with the greatest potential and reducing the waste from less promising areas. They let businesses measure their performance against industry standards and their competitors and allow them to improve over time. The insights can also aid in buildind your squeeze page long-term planning by showing trends or forecasting future conditions that could affect a company’s product and services.
There are many different types of marketing, from traditional word-ofmouth campaigns to social media advertisements. It can be done by a business or a third party agency, which is tasked with creating strategies for their clients’ marketing for specific industries, like tourism or agriculture, (B2C) or for a broad sector of economy, such as the B2B. For instance, if your business sells power tools, it would be beneficial to promote your products in home improvement stores or to general contractors.
