Market insights are a key component of a well-rounded marketing strategy, and provide businesses with a powerful way to boost sales and increase customer satisfaction. In this article, we’ll examine the different types of marketing insights and how they can be used by businesses, and how they can leverage them to improve marketing campaigns.
A marketing insight is a piece of business knowledge gleaned through a combination of life/work experiences and systematically-collected and analyzed data. It’s a nugget of truth that can be transformed into a marketing campaign, and then presented to customers in order to change consumer behavior.
Marketing insights can be quantifiable or qualitative. Quantitative insights can be supported by hard numbers such as website analytics and A/B test results. Qualitative insights can be gained through conversations with your audience such as focus groups or interviews. Both can be useful when providing marketing insights, however the most valuable insights are those which are both clear and quantifiable.
Marketing insights can be used to optimize campaigns and increase conversions, ROI, and the consumer experience. But it’s important to keep in mind get 100s of subscribers that insights on their own will not help you reach your goals. Instead, you need to apply them alongside other strategies and tactics in marketing to achieve the best results.
In order to gather marketing information, it is crucial to identify the needs and wants your intended audience. If you know, for example, that Baby Boomers are more likely to buy products with family values or reliability, you can enhance your product offerings to meet their preferences. You can also gain insights about your customers’ demographics as well as geographic locations to make better marketing decisions that are adapted to the unique needs of your target audiences.