New technologies have completely changed the game for brands! Now, it’s possible to get to know your customer better than ever before. Social networks, big data, the Internet of Things, artificial intelligence… All of these tools play an important role. How? Well, on the one hand, empowering customers and, on the other hand, giving companies an incredible opportunity to get to know them better.

The challenge, of course, is to decipher what can be done with all the information obtained. Research departments tend to focus on numbers, marketing wants to understand how to reach new customers, the sales department chases new leads. Coordinating each of these interests becomes the most complex. In this process, research sees the need to offer real and useful information capable of being used and activated by all those responsible for getting customers.

Data should be the pillar on which strategic decisions are structured in the form of insights. But to achieve that, it’s crucial to understand what we want to achieve and what is the value of the information we get.

As Einstein said, “not everything that can be counted counts, and not everything that counts can be counted.” This phrase makes even more sense in the age of big data, where we have access to tons of information.

But beware! Data, information, and insights are distinct concepts that should not be confused. At the first level are data, quantitative or qualitative, these are unprocessed facts, usually in the form of numbers or texts. Once the data is analyzed and organized in an understandable way, what we can call information is obtained, which is usually presented in a more attractive way. And finally, there are the insights, configured by the interpretation of the result obtained after analyzing the information, looking for significant details that can be used to develop effective strategies.

Types of insights


1. Brand
or Customer Insights: These are the most common. A classic example is Coca-Cola and its insight “the spark of life”, created by McCann in the 1970s. Coca-Cola isn’t just a drink, it’s part of your special moments: laughter, tears, meetings… Coca-Cola is always there when you need a boost. In this case, the brand appropriates an emotional insight that connects with its consumers and that has evolved over time without losing its essence.


2. Market
Insights: Here it is the customers who reveal truths about the brand that it had not seen on its own. A clear case is Aquarius, initially designed for athletes, although it turned out to be consumed by all kinds of people and at any time of the day. This new insightled the brand to change its strategy completely, embracing the idea of “do what you want”. An insightthat shows how people can overcome obstacles and achieve their goals.


3. Insights
by Association: Sometimes insights come from associations with pre-established ideas. The good reputation enjoyed by German engineering would be a good example in the case of cars. Or the association of “luxury” with “quality” in the fashion industry. In this case, high-end brands are often related to the idea of exceptional quality and exclusivity. The challenge here is to differentiate yourself and build unique strategies from that common idea.

5 tips for transforming data into insights:

The process of transforming data into insights requires practice and a certain methodology. It’s not easy to start with. When you dive into it, it will help to contemplate these 5 tips:

  1. Have a clear goal: When an insight is directly connected to what you want to achieve in your business, it’s easier to turn it into concrete action. Think of it like when you have a map to get somewhere, it guides you in the right direction!
  2. Provide context: Insights need context to make sense. It’s like trying to solve a riddle without knowing the context. That’s why it’s important to look at things from the customer’s perspective.
  3. Segment appropriately: Insights need to be targeted to the right people at the right time and in the right way. Everyone is different, so segmenting your audience into groups with similar interests will help you better understand their needs and make more informed decisions.
  4. Formulate broad hypotheses: The information you get should lead you to make clear and understandable assumptions. It’s like connecting the dots to see the big picture. When you can identify patterns or relationships between different variables, you can create solid hypotheses that lead you to real, actionable solutions.
  5. Communicate effectively: If your team doesn’t understand insight in the same way, it will be difficult to move forward. It’s like trying to dance without knowing the steps. That’s why it’s crucial to communicate insights clearly and visualize data so everyone is on the same screen and can make informed decisions together.

Finally, to make sure that you are in front of a good insight, confirm that it complies with the theory of the 3Rs:

  • It must be reasoned. Starting from one or more clues, you have to get to understand the customer better.
  • It has to be real. Proposed as a response to a need that no one else has covered.
  • It must be relevant to a specific target. It’s crucial that you focus your insight on a group of people who share a common interest.

Insights in branding

An insight into branding is the initial pillar on which to develop a meaningful brand strategy that generates an emotional connection with people. It allows for a better understanding of the audience’s needs and behaviors, which will facilitate differentiation in the market. Insights will also be the foundation for developing authentic and relevant messages that resonate emotionally with customers. In addition, they have the ability to guide innovation by identifying opportunities to improve your product or service offering. By understanding your customers’ needs, you can optimize their experience and develop more effective strategies that will drive your brand’s growth.

Strategy and execution: an indivisible tandem

With all this, he thinks that the insights that really add value are not only the answer to certain questions, but are those that manage to be activated, generating new experiences for the brand.

Strategy and execution cannot be separated, insights must be activatable to add value to the business. To do this, it will be necessary, on the one hand, for brands to keep their promises and, on the other, for organizations to be able to respond to people’s demands and interests.

 

Branward Editorial Team