Insight and Competitive Analysis
In marketing communications, insight is the previously unexplored background cause-effect relationships and trends in consumer behavior and emotions. Insights are the underlying facts behind consumers’ emotions and behaviors.
Insights are often described as overlooked and therefore unspoken human truths, answering the question “WHY” rather than “what”;
Not what people feel, but why they feel that way; not what people do, but why they do it…
The sources from which we can find sources of insight are varied: Quantitative research, focus groups, ethnographic studies, social listening, personal observation, news, trends, street interviews, etc.
We start by understanding the current situation of the market, the product/brand and the customers, and the background of the work to be done. We determine where growth will come from by analyzing the market and the brand, from whom it will come by identifying the target audience, and how it will come by processing the available data and developing a strategy. To determine where the growth will come from, a portrait of the target audience and their daily habits, their media consumption and the journey they go through when deciding to buy a product is determined.
A powerful insight should make the consumer say “that’s me”.
Finding these powerful insights in advertising is extremely important because most products are similar, and what really motivates people to interact with or buy one brand over another is more than the physical benefit of that brand.
For consumers, ads based on the right insights are a sign that the brand understands them, knows what they want and need, and that the brand wants to build genuine and lasting relationships with its consumers beyond selling products or services.
Because insights shape our perception and change the way we look at an issue or approach a problem, they enable us to see what we could not see before. A good insight serves as a starting point for the road ahead, a base on which to build a strategy for growth.
In this way, we can articulate accurately and simply what a brand needs and how it can grow. A good marketing strategy is often based on a strong insight.
There are 3 key characteristics of powerful and useful insights:
- Targeted: When looking for insights, it is necessary to restrict and focus the field of action to a specific target audience, audience, etc.
- Problem-oriented: At the heart of powerful insights lies a problem. Just as there is no need for a solution without a problem, insights that do not enable solving a real problem are useless.
- Innovative, fresh: Generic, obvious, readily available and uncompetitive insights are not valuable. Insights that allow solving a new problem or solving an old problem in an innovative way are valuable.
Logical inferences based on research findings and statistical analysis are not insights.
Just simple facts and observations, such as “young girls are sensitive”, “women like shopping”, “children get out of control when they are spoiled” or “men like competition” are not insights. We need to look DEEPER.
In determining the target group, many parameters such as where the target group lives (location), age range, number of people, household income/social class, employment status and marital status are considered. Not only demographics but also the consumer’s values, attitudes and beliefs are taken into consideration as they affect purchasing behavior.
During the strategic planning process, the market situation, marketing activities and media investments of brand competitors are analyzed in detail. The strategic marketing planning of the brand is shaped after these analyzes are blended in the same pot.
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