Strength of Insights
Your business is {strengthOf}% strong in the strengths of insights component
Crafting an “Insight” involves an intimate understanding of your metrics, and extrapolating what they mean for your business. Insights answer the question: “How do I turn these numbers into practical action steps for my business?”
To strengthen your business insights, grow an understanding of your numbers, and cultivate a curiosity to test hypotheses on why things are what they are. A deep understanding of your numbers helps you not only understand what's going on now, but also project trends to come in the future, or potential pitfalls to avoid.
Next Steps
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Develop an understanding of your marketing insights and how they relate to each other
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Knowing what your numbers mean are important, but the next question would be “how do all these tie in together?” For instance, you can ask your team to brainstorm on what it means if conversion rate goes down even when traffic goes up. Potential reasons could be targeting the wrong traffic source, or delivering the wrong message to the wrong audience.
Having an understanding of how these metrics interconnect are crucial to predictable, resilient growth.
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Create processes around your numbers, ensuring that numbers dictate the next steps for business
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After understanding what your numbers mean, make it part of your process to ask - Why and What can we do with this?
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Using the example above, insights such as turning of irrelevant traffic sources or rewriting your messaging could bring your conversion rates up again. A deep understanding of why will lead you to the most obvious potential solution
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Use these insights to adjust dynamically during times of fluctuation and change
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Insights help you navigate uncertainty by showing you what is and what is possible to come. Having a pulse on your data, and making it a habit to question that data will be key to staying ahead of the curve.
For instance - if you suddenly notice that traffic to your website suddenly increased from a certain country on the exact same day you launched a new product...and you don’t know why… don’t leave that stone unturned. Keep digging, keep asking, and keep formulating hypotheses for you to test. This could turn out into potential new markets to tap.
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