Marketing Insights

https://www.syedmarketingblog.com/drive-crazytraffic-by-online-giveaway/

When a marketing plan is driven by insights, it allows for measurable progress towards objectives such as building brand loyalty and closing sales. Insights can be found from many sources, including data from customers, competitor research and even the cultural or social trends that impact consumer behavior.

To gain insights, marketers combine their own work and life experiences with carefully collected and analyzed data sets. This is referred to as market research and should be conducted so that the data adds to value and motivates a particular course-of-action. It’s important to understand, however, that the term « insight » shouldn’t be used interchangeably with raw data or general knowledge. Insight can help you better know the current and future needs of buyers and allow for more informed decisions on growth strategy, and recognize innovation opportunities.

Insights can help optimize resource use by focusing on areas that have the greatest potential and removing waste from less promising. They also aid in benchmarking performance against industry standards and competitors and allow businesses to improve their own practices as time passes. By uncovering trends and forecasting future trends, insights can guide long-term plans.

There are a variety of types of marketing, from traditional word-of mouth campaigns to social media ads. It can be executed by a company directly or through a third-party agency who is responsible for creating a marketing strategy for their clients (B2C) or on behalf of a whole sector of the economy, like tourism or agriculture (B2B). If your business sells power tools, you may decide to promote your business in the home improvement stores as well as general contractors.