If a marketing strategy can be driven by insights, it allows for measurable progress towards goals such as building brand loyalty and closing sales. The insights can be gleaned from various sources, including customer information and competitor research. There are also the cultural or social patterns that affect consumer behavior.
To gain insight, marketers combine their own experience from work or life with meticulously collected and analyzed data sets. This is referred to as market research and should be conducted so that the information adds value and inspires a specific plan of action. It is important to understand that the term "insights" should not be confused with general knowledge or raw data. Insight should drive better understanding of current and potential buyers in the market, allowing an informed decision-making process for growth strategy and identify opportunities for innovation.
Insights enable resource optimization by choosing areas with the greatest potential, and eliminating waste from less promising ones. They help businesses compare their performance against benchmarks and competitors so that they can improve over time. Data can also guide long-term planning by revealing trends or forecasting future events that could impact a company's merchandise and services.
There are many different types of marketing, ranging from traditional word-of mouth campaigns to social media ads. It can be carried out by a company or a third party agency, which is responsible for generating marketing strategies for their clients, such as tourism or agriculture, (B2C) or for an entire sector of the economy, such as the B2B. If your business sells power tools, you might want to advertise in the home improvement stores as well as to general contractors.
https://www.syedmarketingblog.com/creating-your-e-book-to-build-list-an-overview