If a marketing strategy is driven by insights and data, it allows for quantifiable improvements towards goals such as building brand loyalty and closing sales. The insights can be gleaned from many sources, such as customer data, competitor analysis, and even social or culture patterns that influence the behavior of consumers.
To gain insight, marketers combine their own 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 data adds to value and inspires a specific plan of action. It is important to remember however that the term “insight” shouldn’t be used in conjunction with raw data or general knowledge. Insight should drive better understanding of future and current buyers on the market, and enable an informed decision-making process for growth strategy and recognize opportunities for innovation.
Insights allow resource optimization by focussing on areas with the greatest potential and removing the waste of less promising areas. They also aid in benchmarking performance against industry standards and competitors that allow companies to improve their practices as time passes. By revealing trends and forecasting future trends information can help guide long-term plans.
There are a variety of types of marketing, ranging from traditional word-ofmouth campaigns to social media ads. It is usually done by a company or a third party agency that is tasked with establishing strategies for their clients’ marketing such as tourism or agriculture, (B2C), or for a whole sector of the economy, for instance B2B. If your company sells power tools, you might consider advertising in home improvement stores and general contractors.
https://www.syedmarketingblog.com/setting-up-an-autoresponder-part-1