What Is A Fact? What Is An Insight?
Fact
According to dictionary.com, a fact is defined as "Something that actually exists; reality; truth" as well as "A truth known by actual experience or observation; something known to be true".
Insight
According to dictionary.com, an insight is defined as "An instance of apprehending the true nature of a thing, especially through intuitive understanding".
So long story short: A fact is something that has been proven to happen and be true and insight is the reasoning behind why this fact is true.
Picture courtesy of Reddit
Confused yet? Same. Keep scrolling and lets figure this out together😊
Why is this important?
Knowing the thought process behind the fact and why certain things are the way they are can help us in understanding why people do the things they do. When it comes to marketing, this is a particularly helpful understanding to have especially if you're trying to sell a good or service.
Examples:
Fact:
My hair is blonde.
Insight:
Although many people change their hair color, I have stayed true to the color of hair I was born with. My DNA make-up is built so that I have blonde hair.
Fact:
I (A female) am dating my boyfriend (male).
Insight:
I, a female, would consider myself straight therefore resulting in me being attracted to and wanting to date a male.
Fact:
I have 10 tattoos.
Insight:
I have always thought tattoos are interesting and knew I wanted to get some when I was 18. I ended up getting 10 over the course of the last 7 years and all of them have a meaning or message that is special to me.
Okay, now that we understand the basis of this conversation...
We can begin to understand the concept of how Fact vs. Insight plays a bigger role in society–especially when it comes to marketing.
Fact vs. Insight when marketing to the public
Let's take the company Toms® for example. Toms® is a shoe company that was founded in 2006 by Blake Mycoskie of Arlington, TX. Mycoskie came up with the One For One® model or "buy-one-give-one" which simply donates a product for every one product sold.
From both a business and marketing perspective: this is genius. Luckily for us, this also is a great example of Fact vs. Insight.
Fact: Most people will buy into a product if there is a give back program attached to it.
Insight: People feel good when buying Toms® because the Toms® brand and business model is all about giving a pair of shoes to someone in need when any pair of shoes is purchased.