29 Sep Marketing Insights
If a marketing strategy can be guided by data which are quantifiable, it allows improvements towards goals such as building brand loyalty and closing sales. Insights can be found from various sources, such as customer data, competitor research and even social or cultural changes that affect the behavior of consumers.
To gain insight marketers blend their personal experience from work or life with meticulously collected and analyzed data sets. This process is referred to as market research and should be conducted in a manner that the data adds to value and inspires a specific course-of-action. It is important to keep in mind however that the term «insight» shouldn’t be used interchangeably with raw data or general knowledge. Insight can help you better understand current and future buyers enable an informed decision on growth strategy and identify opportunities for innovation.
Insights enable resource optimization which focuses efforts on areas with the greatest potential and eliminating the waste in less promising areas. They also facilitate performance benchmarking against industry standards and competition and allow companies to improve their practices over time. Data can also guide long-term planning by identifying trends or forecasting future events that could impact a company’s merchandise and service offerings.
There are many different types of marketing, from traditional word-ofmouth campaigns to social media ads. It is usually done by a company or a third-party agency, which is charged with developing strategies for their clients’ marketing, such as tourism or agriculture, (B2C) or for a whole sector of the economy, like the B2B. For instance when your company sells power tools, it may be beneficial to promote your products at home improvement stores or to general contractors.
https://www.syedmarketingblog.com/omgili-com-a-sneaky-way-to-discover-targeted-audience/
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