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There are countless reasons why you need marketing insight, but the four most important ones I can think of are:
1. Keep an eye on the competition
What kind of content are your competitors creating? How is it performing in search and social media? What keywords are bringing them big profits?
Finding answers to all these questions will help you create content that actually gets traffic. If you see that a particular keyword brings in tons of visitors to your competitor, you can be sure that targeting similar keywords will do the same for you.
2. Find new content ideas
Knowing what kind of content actually gets shares and search traffic will help you find ideas for your own site.
For example, if you see that list-based posts targeting specific interest groups (like the "10 Things Only Gamers Will Understand" posts you see on Buzzfeed) get a ton of shares, you can create more content in a similar vein and get a slice of the traffic.
I have used this tactic multiple times both here and on Health Ambition with great success.
3. Build links and increase shares
What websites are linking to your competitors? What kind of content gets the most backlinks? Who is sharing your competitors' content on social media?
Once you have answers to these questions, it becomes much easier to build backlinks. For example, if you see that a competitor gained a link from a 'Resources' page, there's a good chance you can jump in and get a backlink as well.