Marketing Insights: How It Helps Business Growth

Marketing insights refer to relevant information about the needs and wants of your target market through research or data analysis. The end of insight-driven marketing is to provide more personalized customer experiences for your customers while ensuring maximum profit for your business.

We are in a more technological age, where business needs to be flexible enough to respond to market trends. This is what digital marketing insights serve. However, there are numerous marketing insights examples in our world today.

Imagine a fashion brand with consumer insight that the audience appreciates body positivity. The business can use models of different shapes, sizes, and races in their campaigns to provide an atmosphere of inclusivity for customers. 

In this article, we’ll further examine how marketing insights data work and the benefits it will provide for your business. 

Why Marketing Insights Matter

Every brand exists to provide value for customers. From the marketing insights definition, you can see that this process helps businesses make informed consumer-based decisions, influencing 53 percent of decisions made in a company. When customers feel like a brand gets them or their products and services resonate deeply with them, it compels them to stay loyal.

With insightful marketing, businesses stay ahead of the competition by maximizing time and resources to fit the audience’s needs. Furthermore, companies interact better with customers to discover new things so they can match up to the demand. 

Finally, brands will record a significantly greater marketing campaign ROI because they provide what their customers want.

What are the Types of Marketing Insights?

We can also define marketing insight as advertising insights. Understanding how each type of marketing insight works is vital for using them to your advantage. Let’s check out some of the types of marketing insights and analytics that exist.

1. Audience Analytics

Audience analytics involves using content performance metrics like demographics, location, language, interests, and preferences to get actionable customer information. This data helps you to tweak your content because you now understand your client’s thoughts and concerns.

For example, a clothing brand that wants to sell dresses during the summer in a U.S. state should run campaigns for lighter textured clothes. Thicker garments, on the other hand, can be marketed during winter.

2. Competitor Analysis

Another way to go about insight marketing is to research and identify your competitors’ strategies. Compare their strengths and weaknesses with yours, and make adjustments where necessary so you can be unique.

A good example is when a food delivery brand stands out by adding complementary beverage delivery alongside their food based on performance marketing insights from competitor analysis, which provides more value to customers.

3. Campaign Performance Data

Campaign performance data helps you review the result of the campaign against the intended goals. You will get great insight into marketing when you take some time to analyze the outcome of the digital marketing campaign of your brand. You’ll retain the successful aspects of your efforts while taking new adjusted measures to deal with the challenges.

For example, imagine that you own an online toddler’s clothes store and are running a discount campaign. You record an increase in sales, but customers only purchase items for little girls. Although your discount strategy worked, your campaign analysis reveals the need to adjust your online catalog to include more female clothes than boys.

How to Find, Analyze, and Use Marketing Insights for Your Business

Step 1: Collect Insights

From the marketing insight definition, the first thing to do is to collect helpful information for your marketing campaign. After you’ve decided on the kind of data you want to assess, you can gather it from your website, competitors’ websites, or by conducting consumer surveys.

Another way to get information is to conduct market research on your products to monitor audiences’ reactions. However, you can simplify the data collection using social media analytics tools like Mandala AI to interact directly with your audience and get their opinions.

Step 2: Analyze Your Data

Organizing and analyzing the data gathered is essential because it helps you differentiate what works from what doesn’t. From the digital marketing insights, note the successful content or campaign to identify areas for improvement. 

You can use social media engagement metrics, audience segmentation, and customer behavior analysis to get a complete picture of what is impacting your business. 

Analyzing insights from campaigns might seem overwhelming and require deep experience. For this reason, it’s beneficial to deploy tools like Mandala AI  to analyze these insights, identify consumers’ pain points, and resolve them.

Additionally, this tool uses marketing data to identify your competitor’s strategies and the gaps you need to fill in the market. It does not require technical know-how to get the information from it.

Step 3: Use the Insights Information

Review the data from your market research and analysis to eliminate strategies that do not contribute to your business’s goal. On the other hand, you may want to take actionable steps to implement efforts that yield reliable results.

Now that you know consumers’ pain points, you can make improvements to ensure a seamless and more personalized experience for them. When you understand your customers better, you can optimize your marketing strategy to tailor your content, product, and service for an adequate reach. Furthermore, use the insights to position your brand as unique by providing what your competitors are short on.

Related Post: 20 Best Marketing Insights Tools for Marketers in 2023 [Updated]

Benefits of Using Mandala AI for Marketing Insights

Collecting big data is a vital part of growing your business. Gathering and analyzing such data to execute better marketing campaigns is easy with Mandala AI. However, there are more benefits that this tool can provide, including:

1. Time-Saving

Using Mandala AI to monitor and schedule your campaigns, you can save more time and focus on building other critical aspects of your brand. Automating your marketing efforts allows you to eliminate unnecessary tasks from your marketing processes. Additionally, it reduces staffing costs.

2. Data Accuracy

As humans, we are prone to mistakes. However, automated data entry helps businesses to avoid errors. High-quality data is essential for determining your customers’ behaviors and preferences correctly. With accurate data, you can make sound decisions that ultimately ensure successful campaigns.

3. Competitive Edge

Marketing insights from Mandala AI give you a competitive advantage against other brands. You can easily streamline and optimize your campaign to reach more audiences, which means you’ll eventually acquire more customers. Furthermore, you can generate more revenue for the brand.

Tips for Leveraging Marketing Insights 

Although your business stands to gain a lot from advertising insights, you have a role to play to ensure your effort is successful. Here are four practical tips that will provide more significant results in leveraging marketing insights:

1. Be Clear on Your Goals and Objectives 

There is no one-size-fits-all approach to adopting marketing insights. The method you choose depends on your business goals. That said, you must determine what you want to achieve. 

Do you want to raise awareness for your brand? Or do you want to target a new audience? You may want to drive sales for a new product. Knowing your objectives lets you decide the metric you need to monitor.

2. Determine What and How to Measure

Once you decide what you want to accomplish, you can easily determine the appropriate marketing insight approach. An option is to go the audience segmentation route or monitor the campaign’s success against the previous one. 

Also, you might decide to measure your results against a competitor’s. Make sure that your choice gives clear insight into your marketing efforts.

3. Analyze the Insight for Future Optimization

After running your campaign, analyze the insights uncovered from the process to reveal the success or otherwise of your strategy. Mandala AI allows you to analyze the raw insights gathered and displays them on an easy-to-read marketing metrics dashboard. You can now extract the information to create more impactful campaigns in the future. 

Mandala AI Provides the Best Marketing Insights for Marketers and Businesses

Marketing insights is a data-driven approach to knowing where you are and where you want to reach through your marketing campaigns. Marketers have to do their best in their campaign efforts to provide what customers want. 

With marketing insights, you can focus on what your business needs to grow and succeed. Also, you can avoid repetitive loss by identifying strategies that are not paying off.

Avoiding loss and discovering the best approach using reliable tools like Mandala Analytics is better. Mandala AI’s marketing insights tool will improve your brand’s performance and growth in the best way. Plus, you’ll be able to make better marketing decisions consistently. Try out the 15-day Trial now!