Why Every Modern Enterprise Organization Needs InsightDriven Marketing
If there's one truth at the heart of modern marketing, it's this: Brands don't own the story. Consumers do.
Brand perceptions that were once born at the boardroom table are now in the hands of consumers, who are turning to the digital space to share their ideas, recommendations and needs. Narratives that define brands emerge and evolve secondarily from the conversations consumers have with each other.
In an age where consumers rely on advice and recommendations from their peers, business owners can make the best investment in understanding consumers better. Information-based marketing fits into the strategic landscape by prioritizing customer needs.
The need for insight-based marketing
Consumer insights based on static data collected through processes such as surveys and polls were rare. With billions of new publications uploaded online every day, businesses have many opportunities to get to know their customers better. But almost overnight, brands flooded digital sources for more dynamic information. According to Forrester Consulting, 60%-73% of an organization's data is not used for analytics.
To stay competitive and relevant, businesses need advanced tools to maintain consumer conversations across channels and markets. That's why insight-based marketing is so important.
Information-based marketing makes its way through this chaos with the help of artificial intelligence, advanced data structures and other technological possibilities. This gives managers a deeper understanding of what their target audience really cares about and can use to inform business decisions.
The key role of AI in data-driven marketing
Today, next-generation artificial intelligence and sophisticated language models are facilitating the journey from data noise to actionable insights.
Natural language processing and visual analytics provide marketers with advanced tools to understand brand stories and insights in real time. AI-powered tools like pattern recognition algorithms and digital "assistants" also enrich marketers with contextual intelligence to better predict what will happen next.
As artificial intelligence continues to advance at a rapid pace, there has never been a better time for organizations to adopt advanced technology solutions. Dozens of brands are future-proofed with features like trend detection, viral content prediction, and campaign ROI forecasting.
Solving business problems
The benefits of insight marketing go hand in hand with business development. According to McKinsey & Company, brands that engage in data-driven marketing can increase their net sales value by up to 5% and their marketing effectiveness by up to 20%. However, additional benefits create additional liabilities and increase the likelihood of losing important information.
Insights-based marketing solutions provide managers with a unified view of consumer data sets across key business areas, including marketing, public relations, strategy, and research and development. However, without a system and team to share it with key stakeholders and decision makers, all of this data loses its value.
With so many potential knowledge bypasses to consider, large organizations need customized solutions for successful knowledge marketing. But only solutions that combine quality services with advanced technological tools designed to meet business needs
Real world results
Many industry-leading brands are already growing their markets using marketing based on a transformative approach.
Since 2016, Shiseido has been using enterprise-ready solutions to integrate and optimize international multi-brand social media operations. By connecting more than 200 users with unified datasets and customized analytics dashboards, Shiseido has a single source of customer needs and insights. "We were able to create a consistent global KPI framework, which then enabled the transformation of marketing goals from revenue to ROI," said Amit Naik, Senior Vice President, Global Head of Analytics at Shiseido.
Haleon uses enterprise-grade social intelligence solutions to manage a portfolio of more than 25 private brands available in 170 markets. "Today, our brands are more competitive because we provide them with data that no one else in the industry can get," said Danny Gardner, head of social intelligence at Hallion. "And we will do it quickly."
With globally aligned social intelligence, the benefits of insight-based marketing reach brands and teams. While Haleo's dental sales team increased the effectiveness of their consumer research by 80%, a social media team for its ointment brands also saw a 272% increase in year-over-year engagement using these approaches.
Looking to the future
As the most powerful force in brand management, conversations with consumers can influence business decisions at all organizational levels. Information-only marketing allows businesses to focus on the voice of the customer. As the underlying technology evolves, brands are getting more opportunities to understand their customers.
Find out how the Meltwater Enterprise Intelligence Suite helps companies put the voice of the customer at the heart of their marketing.
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The views expressed in this sponsored article do not necessarily reflect the views of the authors and Meltwater Worldwide.
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