Data is Not Enough
Just how do you define insights-driven marketing? According to “The Power of Insight-Driven Marketing,” by Strathmore University Business School, “Insight-driven marketing is a strategy that places data and customer insights at the heart of decision-making. It involves gathering, analyzing, and interpreting data from various sources to gain a comprehensive understanding of customer behaviors, preferences, and pain points. This knowledge forms the foundation for crafting highly targeted and personalized marketing campaigns that resonate with individuals on a personal level.”
This may start with an abundance of data collection, but data isn’t enough. It’s the creation of insights and personalization through the analysis and interpretation of the data. “Advanced analytics tools and techniques allow marketers to uncover patterns, correlations, and trends that might not be apparent on the surface. These insights provide a clearer picture of what drives customer decisions and how they interact with brands,” observes Strathmore.
Insight-driven marketing also allows for agile decision-making. Insights and marketing professionals can quickly adapt to changing trends and behaviors in the marketplace. This in turn ensures campaigns are relevant and effective, notes Strathmore.
Strathmore further asserts, “Ultimately, insight-driven marketing is not just a trend—it’s a paradigm shift in how businesses approach customer engagement. By leveraging data and insights, companies can forge deeper connections with their audience, enhance customer experiences, and drive business growth.”
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Shifting the Marketing Mindset
On LinkedIn, Tracy Borreson asks, “What if ‘Data-Driven Marketers’ became ‘Insight-Driven’ instead?” The distinction is becoming clearer as data pipelines are increasing turned up to a high volume. Are we ultimately collecting too much data, with not enough creation of insights?
Borreson observes, “To simplify, an insight comes from seeing into why something is happening and understanding what it means. And it’s holistic. It’s the amalgamation of many points of data, interpreted together, over time, to understand behaviors so well that you can actually participate in them.”
Is this more about changing the mindset of the marketer? Borreson writes, “While most teams will say they are data-driven, marketers aren’t actively choosing to be data-driven on a daily basis. They’re just…used to it. It’s how we’ve been trained. It’s how we report. It’s part of our daily to-do list. It’s what feels measurable, defendable, and safe. Many times, it’s all we’ve been asked to do. So, shifting to insight-driven marketing isn’t about abandoning data. It’s about changing the role data plays.”
For Borreson, a shift is needed in the marketing mindset. Insights professionals can communicate this more effectively than most.
- Shift #1: Stop asking DATA questions, and start asking MEANING questions
- Shift #2: Reintroduce Humans to the Process
- Shift #3: Own Your Authentic Point of View
- Shift #4: Stop assuming you can create a vehicle that doesn’t need to be tuned
Borreson further notes that insight-driven marketing should be authentic, where the owner takes a stance, one that is immersed in a belief while at the same time understanding that the consumer evolves and changes.
She says, “Needs change. Desires change. Budgets change. Perspectives change (hopefully). It’s the one constant in life and business. So, none of these roads lead to one thing that never changes. It leads to a comfortability in navigating what we have. At first, it will feel uncomfortable. Less certainty. Fewer “perfect” answers. More interpretation. But over time, something changes… We begin to navigate with more ease. When things go wrong, we know we can figure out how to deal with it. Our confidence builds. And customers want to be taken to their destination with confidence. Suddenly, they believe that we are the ones to take them there. And they make those decisions with their wallets.”
Video: “Becoming an Insights-Driven Business,” courtesy of Adobe for Business.
