Many old forms of market research are going the way of the stone tablet, for some companies. Such an arduous way of doing business could never have supported growth in trade and e-commerce in the old world. In the same way our means of testing consumer groups through old surveys and brochures are rapidly becoming just as antiquated – who wants to wait for a report to be published on what a focus group has to say when all you have to do is hit a button, type in a few words and find out instantaneously how consumers feel about your business?
Welcome to the new world of social influence marketing. The old ways of conducting market research is becoming extinct while companies across the globe are creating opportunities to hear directly from their clients and consumers on what they want and how they feel. Surveys for market research can now be carried out via a few clicks on Twitter, Facebook, LinkedIn and through a business blog.
By using a Facebook business page, a company can post information in the form of a poll or survey and allow their “fans” to give instant feedback. Companies are gaining insight on:
- Consumers’ attitudes toward particular products
- Consumers emotions about the company
- Insight into how consumers using their products
- What their clients’ needs are
- What other services they would like to see in the market place, just to name a few.
It’s faster than waiting for a hard copy market study to come back, as reliable and as fast as real time allows. It’s the new “secret shopper” but with loads more information – and none of it is secret.
Think of the possibilities: You develop a product or a service and you want to gauge consumer response quickly. Sending people out to stores to interview customers will take too long and is costly, why not post the question on your Facebook page and ask your fan base to participate in the conversation?
Old forms of advertising, via print media, won’t work either; many consumers don’t have the time to sit down, fill out a questionnaire and send it back in, yet they will take the time while they are on their favorite social site to answer a few questions. You want quick results so you can tweak the product according to customer response, now it’s possible; get it in real time by utilizing the place consumers spend a good amount of their time.
Utilizing the power of Twitter and Facebook will garner you results in seconds.
- Post 140 words and find out what people think of you, your business, your products and your services in the time it takes to hit the “enter” key.
- It’s a survey, a focus group analysis times ten – market research on steroids.
- It’s everything you need to know from the people who support your business and the speedy turnaround of information allows you to make adjustments swiftly.
- That means quicker profits.
It’s a turbulent world – make social media your new constant. It’s reliable and has more muscle than any old form of marketing could ever possibly hold. It is, in effect, your new best business partner.