7 Big Problems in Marketing: #4: Generating and Using Insight to Shape Marketing Practice

by | Mar 13, 2017 | News

There is a fundamental debate that is unfolding concerning the role of Big Data and analytics within firms. However, this data orientation (or obsession) may obscure the differences between data, knowledge and insight. An argument could be made that while our data and knowledge are rapidly growing, our actual insight is not. What does it mean to have a customer insight that can be leveraged in the marketplace? This problem could be addressed by new methods, but we are more concerned with unique, different information that leads to competitive advantage. How do organizations collect, share, store, transmit and “use” this insight? More broadly, in our knowledge-based economy that leads to competitive advantage rather than a traditional view of products, routines, capabilities and assets. At an even higher level, how do we know we know?

▶  HOW CAN WE GENERATE NEW AND BETTER CUSTOMER INSIGHTS?

This is not just about methods and techniques, but it’s also about looking around the corner and visualizing the future.

▶  HOW CAN I BEST CAPTURE MY CUSTOMERS’ EXPERIENCE?

We have all learned the tools of end-to-end mapping of customers’ journeys. What is unique about these journeys? Is it only about pain points, or about surprise points? What is more important?

▶  CAN WE ALSO IDENTIFY COMPETITOR INSIGHTS?

Almost all of the focus to date has been on customer or consumer insights, but channel-partner insights? Supplier insights? When are different types of insights more or less valuable, and why?

▶  WHO SHOULD BE DOING THIS IN OUR ORGANIZATION?

Folks have argued that market-driven companies are not marketing driving companies. If this is the case, what is the role of marketing in gaining new insights? Does it drive the process? Simply aggregate views from other areas? Is it a catalyst function?

▶  HOW DO WE INGRAIN INSIGHT-DRIVEN APPROACHES INTO ALL OF OUR BUSINESS PROCESSES?

Most of the focus to date has been on generating insights, and it’s clearly not an easy thing to do. How do we make sure that we fully and quickly exploit the insights we do manage to generate?

▶  WHO HAS CRACKED THE “INSIGHTS CODE” AND HOW DID THEY DO IT?

What are the best insights tools and frameworks for us to use?

▶  WHAT FIRMS HAVE DEVELOPED A “GREAT MACHINE” TO TAKE INSIGHTS AND DEPLOY THEM QUICKLY FOR REVENUE GROWTH?

Read the original article at AMA.org

This spring, we’re unveiling the AMA’s first ever intellectual agenda in our almost 80-year history that features what we believe are the “seven big problems” confronting marketing. The seven big problems will drive content for the entire AMA community: a multi-faceted and diverse group of professionals in marketing and sales, academic researchers and educators, and collegiate marketing hopefuls.

The AMA’s intellectual agenda seeks to serve as a big tent source of guidance and inspiration that includes both theoretical and applied knowledge that will ultimately provide actionable insights, frameworks, tools and resources for the AMA community. We’ve created a living document that can evolve along with the AMA community and the discipline of marketing itself.

–Russ Klein, AMA CEO

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