Recommended For You
Market Research teams are increasingly using posts made on social media about their brand, their competitors, and their market to gain timely, fresh insights. But why turn to this unstructured, large, dataset when there are already so many in their tool belt? The reasons are simple
Whereas most other sources of traditional data prompt consumers’ responses and are vulnerable to response bias, social data is unguided and peer-to-peer. This means conversations can occur here that would never arise in an interview room. This also affords researchers privy into the authentic language consumers use to communicate with each other, unbiased by the presence of outsiders.
Social data is available in real-time, which shortens the research cycle from many months to just a few weeks. As a result, insights are relevant and up-to-date with the very latest trends and discussion. This allows researchers to get from inquiry to insight, to taking action faster than ever before.Social Media conversations are public.
While the conversations had inside of an interview room are private, the ones happening on social media are extraordinarily public. Opinions and (mis)information shared online have the potential to reach far beyond one’s close circle of friends and impact purchasing behavior of complete strangers. Understanding what is being said about your brand, competitors, and your industry in general online is critical.
Even understanding this, there remain some common misconceptions about social media data that could hold some teams back from taking advantage of it. Here are the three most common misconceptions that get in the way:
Social media provides brands access to real-time insights that capture, validate, and interpret the conversations key customers are having online, to optimize marketing strategies and help accelerate brand usage. To learn more about how social media analytics can help your team, head to our website.