Market Dealer | Social Media As A Research Tool
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Social Media As A Research Tool

Social Media As A Research Tool

Social Media has changed the way we interact with people and more importantly, the way we interact with data. Now more than ever before, it is essential for businesses to have a social media presence in order to strive and survive in this fiercely competitive digital era.

So, can researchers benefit from Social Media as well?

Market research through Social Media is the process of gathering quantitative and/or qualitative data from social media platforms to understand social, consumer, or market trends.

Let’s look at a campaign Dove launched in 2016; the #SpeakBeautiful campaign. It relied heavily on Social Media research to compile the data it needed for its social media strategy.

They analysed over 5 million social media mentions on Twitter and found that approximately 80% of female users online had experienced negative body-shaming comments.

What happened next was one of the most effective online marketing campaigns of the 21st century:

    • 36% decrease in body-shaming comments on Twitter
    • 63% increase in sales
    • 168,000 mentions with the hashtag in a year

What Dove and Twitter used to their advantage, businesses are now gravitating towards; using Social Media for market research.

Social Media research is a better business investment as it:

  • Has a higher ROI
  • Gives immediate and/or historical data
  • Returns results from independent environments

 

How can Social Media research help your business?

Social Media research can help your business in several ways. From understanding and improving the perception of your brand online to comparing your presence to a competitor and attracting new audiences by understanding the trends and discussions within your category.

  1. Marketing Effectiveness:

Truly understanding Social Media is a crucial part of marketing today. It is also a key resource for gaining insights to plan and execute your campaigns.

Millions of users share information about their thoughts, opinions, needs, and experiences daily on Social Media. Independent Social Media research offers an objective view of your marketing, showing where there are opportunities to increase reach and engagement. Continuous measurement can help you to define the application of your campaign performance and gain ROI.

2. Product Development:

Great campaigns are built on deep human truths. By conducting Social Media research, you dive into your customer’s world, while developing a new product or service.

Analyze behavioral signals from Social Media audiences to understand where your brand or product proposition fits in. Once you have developed a new product, you can use Social Media research to understand the mindsets and behaviors of your target audience and create marketing communications, visuals, and experiences that click.

3. Competitor Intelligence and Benchmarking

Monitoring the online presence of your brand is an ever-expanding task, let alone exploring activity around your competitors.

Social Media research can help you get a top-level view of how competitors in your industry approach certain topics and themes that are either the pain or pride points of your brand. Finding out if there is a better way to reach your audience, or how to ensure you continue to break away from the pack.

4. Attracting New Customers

Utilizing Social Media research for audience intelligence helps you understand your customers on a much deeper level than just their demographics.

Find out information about opinions, lifestyles, habits, and even interests, to truly grasp the core of your audience and refine communicating with them in their own language. This circles into attracting new customers by word-of-mouth advertising.

5. Improve Customer Service

A large share of the customer service market has recently moved into the public domain of Social Media, as it is a quick and easy go-to for people with questions and complaints about your brand.

Understanding how people talk to and about your brand, enables you to anticipate this interaction, and even reach customers online who may have discussed your brand, but were not speaking directly to you.

Social Media research is just one avenue that businesses can take to gain insights into target consumers.

Channels like Facebook, Twitter, Instagram, etc., provide businesses with a unique look into consumer behaviour in environments where insights are given freely. A professional agency like MDH Digital provides Social Media research amongst traditional research, to provide your business with the best campaign, highest ROI, and improved customer service!