If a marketing strategy is guided by data which are quantifiable, it allows advancement towards goals like building brand loyalty and closing sales. There are insights to be found in various sources, like customer data, competitor analysis, and even the social or cultural patterns that influence consumer behavior.

To gain insight marketers mix their personal life/work experiences with systematically collected and analysed data sets. This process is referred to as market research and should be conducted to ensure that the information is of the value of the research and leads to a specific course-of-action. It is important to note that the term “insights” should not be confused with general knowledge or raw data. Insight should help improve understanding of current and potential buyers on the market, and enable better decisions regarding growth strategies and recognize opportunities for innovation.

Insights enable resource optimization which focuses efforts on areas that have the highest potential and eliminating waste in less promising areas. They also assist in benchmarking performance against industry standards and competitors and allow businesses to improve their own practices as time passes. Information can also help guide long-term planning by providing trends or forecasting future conditions that may affect a company’s products and services.

There are different types of marketing from traditional word-of mouth campaigns to social media ads. It could be handled by a company or third party agency, which is tasked with establishing marketing strategies for their clients like agriculture or tourism (B2C), or for an entire sector of economy, such as the B2B. For instance when your company sells power tools, it would make sense to advertise your products in home improvement stores or to general contractors.

https://www.syedmarketingblog.com/list-building-with-a-responsive-list