How the Act of [Insight] Sharing Can Boost Your Business

Knowledge is strength. It’ s an expression that rings true for many. When we know a topic, inside plus out, it gives us self-confidence, energy and a positive temperament.

Now when knowledge is power, then more knowledge must be good luck. Sounds simple, right? Let’ s stick this notion in our bag and make it into the workplace.

Now before we move much further here, let’ s examine what insights actually are. Looking up insights in the dictionary brings up a few definitions , every generally speaking to a deeper examination of a truth.

What Do “ Business Insights” Mean Exactly?

In the Marketing world I have been entrenched in for awhile right now, it is often about illuminating cause and effect. What exactly is this that makes a prospect mark. What keeps them up at night. What moves them through a purchase path. And ultimately, what compels them to buy.

They often stem from qualitative research activities, such as online surveys, studies, focus groups, and consumer testing. Sometimes they are revealed from more quantitative assessment, such as A/B and multivariate split testing or analytics data. In reality though, Marketing information can come from any technical activity – so long as 1 periodically pauses and inspects the activity’ s efficiency before moving on to the next thing.

In the electronic world, where nearly every thing can be measured, insights drift like the pollen of Springtime. Digital insight spores drift everywhere – and are non-allergenic.

They can be as granular as how one particular specific demographic, perhaps moms with toddler aged children in certain household income brackets, have a 50% higher tendency to purchase a particular product than another demographic in the exact same income bracket. Or maybe when using a single call to action (button) instead of two stacked along with each other, 20% more on the internet orders are generated.

These are examples of data-driven insights that, on their own, could be interesting – but not much more than that. On their own means they don’ t move anywhere. They don’ to fly around in the air such as pollen, but are rather bottled up inside the minds of one – or perhaps a few.

Data-Driven Information

Now let’ s recall our more the merriers – a lot more knowledge, more power. More thoughts, more knowledge. Imagine what happens when we bring the simple thought of sharing into the equation. Knowledge grows exponentially!

If 40% of those that purchase this, also look at that, then this is something many should know about. Up market opportunities await, personalization and campaign messaging can adjust. New bundled offers might be promoted. Each of the actions that will ensue from a given insight can have their own contribution towards the bottom line. This is precisely why the easy concept of sharing is so essential.

If one particular version of a paid research landing page drives 90% a lot more sales than another edition, well, this is a good result. If this insight is not shared with other people who were not intimately involved in the test activity that uncovered the result, then it will remain just that – a good result.

The real impact on company value comes from something pretty basic – communications. Understanding this exponential impact that insight sharing has on agencies also reinforces why “ team” is also central to the conversation.

And it’ s not simply just because a team of ten provides ten more minds than the usual team of three. Figures are important to scaling the impact of knowledge. But it is the sheer act of discussing – something so simple and seemingly mundane – that can be the agent that reinforces the “ team” concept.

It’ s no secret that organizations of different sizes and distributions deal with a silo effect. Globally dispersed function forces, large organizational buildings, political jockeying – whatever the reasons are – silos emerge. And with silos, come data silos. Some organizations are using different data than other groups. Some organizations don’ t know about data other groups have.

Sharing Insights

In this sense, understanding sharing isn’ t practically leveraging the powerful multiplier effect of many people acting on exactly the same set of insights – which is powerful. But it’ s also the act of sharing information. Sharing information across groups reinforces unity and reminds us all we are one. One organization – not a collection of various organizations.

Brandon Gerena, Managing Director at Accenture Interactive says “ analytics is shifting from a look-back source of marketing performance study, to an “act-now” flow of actionable insights and activates that can optimize live encounters. ” This reinforces the need for speed in today’ s competitive environment. We must possess insights and ideas cued up to pivot quickly, and in real-time.

Brandon continues, “ What’s necessary are a few things. Very first, you need platforms that allow collaboration between teams and that integrate with the rest of your marketing ecosystem. Next, you require centralized audience governance plus journey management that spans across prospects and existing customers. Last, you need to consider in-sourcing key capabilities like media attribution, programmatic ad buying and experience optimization. The goal is to supply transparency into marketing purchases, increase speed-to-market and enhance the customer experience. ”

If sharing insights is important, then how to discuss them effectively is, as well. First, consider bite-sized content material nuggets that can be gobbled plan ease and comfort. Part of what makes content more digestible is the dimension of each chunk. There’ s a reason the term “ enjoyable size” exists.

Beyond chunk size, the greater we can do to minimize the particular perceived work involved in digesting the information, the better. Making insights easy to consume also means a consistent format and presentation of each and every insight. This way, eyes plus minds can self-train means interpret the insight within rapid fashion.

Start with an insight “one liner” that conveys the gist of the insight – including some creative flair, whenever we can. Not everyone will have time to go farther – so use this one liner to assist guide them, in brief terms, on what the insight is all about. Readers can decide rapidly whether this is one is on their behalf – or not.

Consistent Insights with Screening & Analytics

A copy block that will speaks to the background — this could include a premise or even hypothesis of a test or, more generally, how the action came about.

Talk to results — that can be depending on analytics, A/B test data or from the output of qualitative research.

And finally, from the results, explain the insights — this should translate the results into something actionable about your business. The key “ now what? ” – should be included either here or as its very own discreet “ next steps” section. This will help set the stage for action to be taken for the insights. The actions are exactly what make insight sharing important.

Keep it simple. Keep it digestible and aesthetically, easy on the eye. If you work with slides, place the background, results and insights in constant real estate on each slip. Keep image height and widths generally similar too.

In sum, share what you know, in an effort to make your business grow. Reveal beyond your daily circle. Break down silos. Reinforce your bigger team concept. Turn information into power – power to beat your competition.

The article How the Work of [Insight] Sharing Can Boost Your Business appeared 1st on Marketing and advertising Insider Group .

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