There are certain terms we use quite frequently when we talk about digital or creative marketing. This article is going to focus on the two most popular of them: Data and insight.
A short explanation for data would be the sum of all the information you collect during work. How many customers you have, how much time your visitors spend on your website after finding you on search engines, your spam score, and your expenses are all a part of your data.
Insight is the educated guesses you make in context with the data you collected and the hypothesis you acquired. Insight is the step before taking action. The direction of your strategy and the style of your campaigns all heavily depend on your insights. If you think your products are going to be popular among the Gen-Z or if you think your website needs a more dynamic design they all count as insights.
Creative marketing techniques usually create insights based on instincts and experience. For a long time, the only successful insights were created by experienced marketers who had been in the business for years. In today’s digital marketing world though, we can work in an abundance of data. Insights can be created by combining both online and offline data on one platform. Digital marketing data allows you to create your insights completely based on the information and without error by helping you to learn more about the smallest details of customer behavior.
First, you must know that data as it is cannot be enough to create insight. Data is like an unprocessed, raw pile of information. To make them useful, you must organize, group, process them so they can be ready to use when the time and circumstances are right.
Think about bounce-rate, the amount of time your visitors spend on your website after arriving from search engines and before leaving your website. This information means very little on its own but when examined in the right context you can create your insights about it. It will tell you that the content on your website is not informative or engaging enough or that maybe your website design is not user-friendly. Grouped together with other relevant information data turns into processed information and will make you more insightful.
When it comes to collecting data, it can’t be wrong to say “The more, the better.” But quantity is not always the only needed feature. Data must be manageable and stored under the right titles. You should be able to see from what sources they were collected, where they can be used, when they were collected and what was the general trend in the world back then. For example, a national or a global power-cut or a time should be noted so that you won’t have any issues interpreting the low online sales at that time.
You should set your goals and targets long before processing the data and creating your insights. The insights should be shaped around your goals. Do you want to increase your sales? Keep your visitors longer on your website? Increase the brand awareness? They are all different goals and require different approaches.
You should never stop collecting and organizing data. The data you collect is going to change with the circumstances and it will lead your insights to change too. You should always be looking forward and collecting data from new sources to allow improvement.