https://www.syedmarketingblog.com/in-11-steps-to-your-own-online-marketing-strategy
If insights are used to guide a marketing plan this can assist in achieving objectives that are quantifiable, like increasing brand loyalty and closing more sales. The insights can be gleaned from various sources, including customer information, competitor analysis, as well as social or cultural trends that influence consumer behavior.
Marketers combine their own experiences with data sets that are collected and analyzed systematically to gain insights. This process is called market research and should be conducted so that the information adds the value of the research and leads to a specific plan of action. It is crucial to remember that the term “insights” should not be used in conjunction with general knowledge or raw data. Insight should help improve understanding of current and future buyers in the market, which will allow the making of informed decisions about growth strategies and recognize opportunities for innovation.
Insights allow for resource optimization by focusing efforts on areas with the highest potential and eliminating the waste from less promising areas. They also aid in benchmarking performance against industry standards and competitors which allows businesses to improve their own practices over time. The insights can also aid in long-term planning by revealing trends or forecasting future conditions that may impact a company’s product or service offerings.
There are many kinds of marketing, from traditional word-of mouth campaigns to social media ads. It is carried out by a company directly, or by a third-party company who is responsible for creating strategies for marketing their clients (B2C) or for the entire sector of the economy, like tourism or agriculture (B2B). For example when your company sells power tools, it would be logical to promote your products in home improvement stores or to general contractors.