Marketing insights are a combination of quantitative and qualitative data systematically collected with life/work experiences. Just collecting data that doesn’t make sense is useless. You should collect data and interpret it to get important insights out of it. 

As a marketer, you must be conducting a lot of marketing campaigns. It’s important you track and measure their performance. But what will do by tracking these marketing campaigns? By analyzing your marketing campaigns you can draw meaningful insights. These marketing insights can help you to improve your future marketing campaigns. 

Here, in this blog, we will learn more about marketing insights definition, insight in marketing, marketing insights examples, and more. 

Learn marketing insights about your business. Make data-driven decisions and drive results.

What is marketing insights? 

By marketing insights, we mean the process of understanding more about customers and their needs, wants, & preferences and the market in general. Marketing insights is a broad term and can refer to a wide spectrum of important and actionable truths about the entire industry, consumers, and competitors. 

Insights in marketing can help you to meet your customers’ expectations while increasing profits. Marketing insights can aid you in creating marketing strategies that make customers see value in your products or services.

Why are marketing insights important? 

You might have seen that sometimes people write bad reviews on your website. You can either go to the bottom of this problem or just let it go. Marketing insights can help you in finding answers to why things happen the way they do. With insights marketing, you can find out what led to a bad customer experience. 

Similarly, marketing insights can help you in many different ways that we have mentioned below:

1. Better understand your customers 

Marketing insights can help you find out what exactly customers need, want, prefer, and expect. For example, you do A/B testing for marketing campaigns for the same product. You see that the marketing campaign that emphasized the quality feature got a better customer response than the one with basic information about the product. From this marketing insight, you can infer that people prefer a quality product. 

2. Improve customer experience 

Marketing insights can help you know your customer’s interests and preferences. For example, marketing insights reveal that 20% of your existing customers make purchases of apparel. Then, you can create personalized marketing campaigns for them offering a special discount on apparel. 

3. Boost revenue 

By understanding your customers better and improving their experience you can boost your sales. For instance, from marketing insights, you find out that 40% of your customers only make purchases during sales. Then, you can create an email marketing campaign for these customers to encourage sales and boost revenue. 

4. Get ahead of your competitors 

Insightful marketing can help you to get ahead of your competitors by making the right investments. You can invest in the marketing channels that deliver results to your business. You can find out what type of content and messaging works best for you. By making your customer journey smooth you can convert your leads to paying customers. 

5. Maximise ROI 

Marketing insights can help you to make data-driven decisions. You can identify the business actions that don’t deliver results. This can help you to cut through unnecessary business costs and optimize your marketing efforts, resulting in a higher ROI. 

How to get marketing insights? 

Now, you might have understood the importance of marketing insights in business. But how can you get marketing insights? These days people leave a massive digital footprint online. The best way to gather marketing insights is by collecting and analyzing those digital footprints. 

Here, we have given steps that you can follow to turn massive amounts of data into meaningful marketing insights. 

According to a report, 87%  of businesses have a low BI and an immature sense of how to utilize analytics to fuel growth and accomplish business goals. Marketers should opt for advanced insights tools that not just present data but provide marketing insights. 

Evaluating the marketing attribution reports can help you draw marketing insights. 

You can use multitouch attribution models to analyze which marketing channels are giving you the most sales. You can see which marketing touchpoints matter the most in the customer buying journey. 

How do I get marketing insights? Use Webmaxy eGrowth 

You can get marketing insights by using Webmaxy eGrowth. It is an eCommerce management tool that integrates with your website commerce and marketing channels. It has a Marketing Insight feature that lets you know about the conversion and revenue contribution of your different marketing types. 

You can evaluate how your different marketing campaigns are performing. This information can help you to make investments in the right marketing channels that are delivering results. 

Additionally, Webmaxy eGrowth comes with a plethora of features that we have mentioned below:

Schedule a demo with our experts to learn more about Webmaxy eGrowth or email us at info@webmaxy.co. 

Marketing insights: The conclusion 

Marketing insights are created by integrating personal and professional experiences with collected data. It can help you in gaining an understanding of your customers and market. Marketing Insights can unveil important and actionable truths that can help you make the right marketing decisions. 

You can use various tools like Google Analytics, Webmaxy Analyzer, & Crazy Egg to gather and analyze data. The more data you have, the better you can draw marketing insights. Webmaxy eGrowth is a customer data platform that can present important marketing insights about your e-commerce store.