What is a marketing consumer insight?

As customer experiences take center stage, so does the need for a deeper and more compelling definition of insight. Ideas form the cornerstone of the design and innovation process, a beacon of what to do next and a catalyst for creating new value for your customers.

The ever-growing explosion of data puts more knowledge at our fingertips than ever before, but you need to know what to do with it. Otherwise it is outdated and ineffective. We see a growing lack of knowledge with companies living in an “illusion of knowledge”, drowning in data, knowledge is poor and they fail to turn information into intelligence. 

The lack of a shared understanding of what is and is not an idea is one of the reasons. The absence of the methodological rigor required for a generation of meaningful knowledge to occur is another. We see that organizations often struggle to come up with a standard definition of what an idea is, and a repeatable process to find and articulate them. What is a marketing consumer insight? Unfortunately, most of the “insights” we see are nothing more than simple observations, reporting what has been seen in the field without any overt action or outcome attached. If we don’t have a clear understanding of what insight is, how can we use it as a guide to define what’s next?

Understand that it is not an insight to know what insight is in Marketing

But what is insight in Marketing? The ‘Insight’ has become a word horribly misused, very similar to ‘brand’, ‘strategy’ and ‘innovation’ have become misused words. So let’s first get a definition and restore the meaning of the word by considering what it is not:

Insights are not data 

Data can take many forms, but we must remember that it is just that: data, it is not an idea, and it does not think for you. With a large amount of data at hand, the fundamental problem is much more essential: how do we extract and analyze the data to reveal information that we can act on? Look at your data holistically and be careful not to join that singular inspirational data point that can lead to a quick conclusion. Think holistically. Analyze intensely. The definition of Insight requires that you take a multidimensional view.

An observation is not an idea

Observations are an incredibly important part of creating information, but they are still just one data point to consider and should never be alone. They are facts that lack the “why” and “motivation” behind consumer behavior. Never stop working hard during the vision definition process to turn an astute observation into something more meaningful and actionable. It always comes to the “why.”

A customer wish or statement of need is not an idea

An Insight is not an articulated statement of need. Perceptions are less apparent, intangible, latent. A hidden truth that is the result of obsessive digging. Whenever you hear ‘I want’ or ‘I need’ in a statement, step back and pause as you probably need to dig deeper and understand the motivation and why behind ‘the desire’. Articulated needs are great for defining features and benefits, but they don’t lead to ideas that have the seriousness of tearing down existing categories and creating new ones. Look at the outcome people want, don’t just record your need statements and assume you have ideas, probably not.

Definition of insight in Marketing 

Definitions of insight abound in Marketing about what it really is. But instead of getting hung up on and searching for endless definitions, we encourage our client partners to define their knowledge definition process based on the business impact and social media they want to drive within their own organizations. A definition is useful, but knowing what value your knowledge should bring is much more important and makes them actionable, generating momentum for change. At THRIVE we look at the ideas we develop to offer the following as a functional definition:

– A fundamental human truth not recognized.

– A new way of looking at the world that makes us reexamine existing conventions and challenge the status quo.

– A penetrating observation on human behavior that results in seeing consumers from a new perspective.

– A discovery about the underlying motivations that drive people’s actions.

Convert knowledge into insights in Marketing 

Casual observation and just having knowledge is not enough. Defining Marketing Insights requires work; It is a skill that requires creativity, persistence, and deep thinking to create. The most powerful ideas come from rigor and serious analysis to translate large amounts of data into concise and compelling findings. We also encourage you to go online with Shopify as it makes it possible to be online within a few days. 

Organizations that want to use insights as the platform for organic growth require a process that is scalable and repeatable so that it can be routine within the organization with predictable long-term results. Use written knowledge statements guided by five key principles to turn research data into actionable knowledge to inspire new ideas for product and service development.

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In conclusion, you must be a good thinker before proposing an insight, because the thought is deeper than just a simple superficial phrase. It is known that insight is the hidden truth of the consumer, so we must start there.

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