Needless to say that social media has greatly influenced our lives and society in general. It has drastically changed the way we communicate with each other and the brands. In fact, according to an online survey, social media now plays a key role in influencing purchase decisions with 57% of consumers agreeing that they are likely to decide on a purchase based on positive feedback online.
There is no doubt that the pervasive use of social channels has made it easier for brands to gather direct consumer feedback and understand their sentiment better. While social listening has been around for some time now, brands are now shifting gears to gain deeper social intelligence to drive smarter marketing strategies and product innovation.
The emerging social media listening services are revolutionizing the traditional market research methods, allowing brands to gain a better visibility and insight into shoppers’ preferences, needs, habits, and sentiments. Social intelligence is helping companies drive deeper customer engagement and deliver greater value. Let’s look at how social media listening can boost conventional market research process and offer you a chance to truly differentiate in a cluttered marketspace.
You do not have to use surveys
Typically market analysts spend a huge of amount of time capturing information from the consumers before they start to analyze the same. However, social media monitoring can help drastically change this process. Using social media management tools analysts can easily mine the extensive social data available on open platforms to create dynamic profiling, understand consumer sentiment and motivational factors, and build superior customer intelligence.
Social listening allows you to build customer segmentation based on their preferences and needs. Channel analysis, semantic analysis, and social competitive analysis are a few complex analytical models that help derive focused insights within each customer segment. Marketers can use these insights to measure past buying behavior, track changes in consumer sentiments in real-time, and predict future patterns. Customer segmentation helps you deliver targeted products and relevant experience without asking a single question to the consumer.
You have the power to target and influence
Social listening helps uncover the fundamental questions the who, the what and the why and identify the influencers driving the evolving customer behavior – the way they think, act, and engage. Using the social insights you can develop partnership strategies and collaborate with the right influencers to better engage the customer across social media platforms. Collaboration with the right influencer can help create an impactful branding and lasting impression driving higher sales.
Be social to know the pulse of the market
The rapidly increasing use of social network has resulted in an explosion of data for marketers. And, with the right technology, you can eliminate the use of expensive, time consuming and limited in scope sample focus groups and consumer surveys, allowing market research to be in-depth, real and smarter all in real-time. To achieve strategic advantage, businesses today need to effectively tap into this plethora of consumer information, analyze it and discover right trends and patterns. Customer intelligence is the only way to ensure marketing success and continued business growth.
Contact us to find out how we can help you integrate social information with market intelligence and drive smarter business strategies and outcomes.