If a marketing strategy is driven by insights which are quantifiable, it allows advancement towards goals like building brand loyalty and closing sales. The information can be gleaned from various sources, including data from customers or competitor research, and even social or cultural trends that influence consumer behavior.

To gain insights marketers blend their own experiences from their work/life with meticulously collected and analyzed data sets. This process is called market research and should be conducted to ensure that the data provides value and motivates a particular course-of-action. It is important to keep in mind that the term "insights" should not be used in conjunction with general knowledge or raw data. Insight should lead to a better understanding of check it out current and potential buyers in the market, enable the making of informed decisions about growth strategies and recognize opportunities for innovation.

Insights allow resource optimization by focusing on areas that have the most potential and eliminating the waste of less promising areas. They also assist in benchmarking performance against industry standards and competitors that allow businesses to improve their own practices as time passes. By uncovering trends and forecasting future conditions data can aid in planning long-term plans.

There are various types of marketing, from traditional word-of mouth campaigns to social media ads. It can be done by a company directly, or by a third-party company tasked with creating an effective marketing plan for their clients (B2C) or on behalf of a whole sector of the economy, like tourism or agriculture (B2B). If your company sells power tools, you might be interested in advertising in the home improvement stores as well as to general contractors.