Social media as Fertile Source for Market Research Agencies
Business owners and various Market Research Agencies realized that social media, now-a-days is not just a mere sales tool; rather it evolved as the source of identifying the customers’ thoughts and desires. Thus, social media is regarded as the major aid for achieving a comprehensive and deep-rooted marketplace insight.
Chief Fruitful Benefits of Social Media
According to a recent survey, the social media has certain constructive aspects for business growth:
• Increased traffic (69%)
• Increased exposure (85%)
• Improves search rankings (55%)
• Growth in business partnerships (51%)
• Marketplace insight (65%)
• Improved sales (10%)
• Reduced marketing expenses (46%)
Low-Cost Strategy Adopted By Business Owners
Most of the entrepreneurs in the global market adopt precise low-cost strategies for monitoring vogue trends and analysis based on the target user’s needs. The proposed strategies involve considering the following aids to be in touch with the target customers’ ever-changing requirements. The same is listed below:-
• Brand Mentions
Collect tweets and Facebook mentions that contain your brand name. Undergo a thorough analysis and find out what people say about you and your brand.
• Customer’s Buying Language
Study the words or slang words that are usually utilized by the customers to define your specific industry. This study is beneficial for connecting to your audience precisely. Utilize these words in your marketing/advertising campaign.
• Post Engagements
Analyze which posts garner the most likes and shares from the end users. Also make sure to identify the themes of post that resonate the most among the target masses.
• Survey Contests
The most effective and productive method of increasing your loyal customer base and garnering huge acclaim in the market, is by conducting survey contests and committing for assured gift prizes.
• Face To Face Interaction
The modern and smart customers now crave for personal contact with the seller. Thus, most of the trustworthy Market Research Agencies votes for facilitating direct/face to face interaction with the end users. This result in satisfying the customer by answering his/her candid questions related to the product/services marketed by the seller.
Hence, social media is the key arsenal that actually serves as the most low-cost and personalized market research strategy for your firm. This, is evident by the fact that almost 70% of those firms that have only one year of experience in utilizing social media, also witnessed huge gains and acclaim from the target customers. And they are still thriving in the hearts of the masses.