Social Media as Market Research

Hopefully, by now you are at least thinking about your Social Persona, and beginning to test the waters. This blog post is going to show you one way to begin getting real value from your SM efforts.

One of the most powerful uses of social media (and one that seems to get little attention from ‘experts’ and the press) is as a real-time market research tool. There are both active and passive ways you can use all the chatter out there to find out about your customer’s needs and wants, what they are talking about, and what they tell each other about your business.

Passive listening is akin to old westerns where the cavalry scout puts his ear to the ground and tells the captain how many horses are approaching and how far away they are. You can pretty easily “read” the social media sites to get feedback on what is being said.

Most social media sites have search features that you can use to see what is being said. Twitter for example has two: Trending Topics are displayed on the right hand side of the Twitter home page. These are the most used terms over the entire twitter network. They are not likely to be of direct use, but can give you a feel for the current “mood”. Twitter also offers direct search capabilities. You can easily search for keywords and see what tweets recently contained those words. With many Twitter clients (programs such as TweetDeck or Tweetie that add functionality to Twitter) you can see recent tweets locally, within a range up to 100 miles from your location. Certainly if you are a cabinet shop, this is a big feature. You can literally see what is being said about cabinets or remodeling in your own neighborhood.

Facebook is a bit different. You can certainly search, but the results will be pages from people or businesses, not keyword searches within the conversation. This is useful to find connections and build your network. And as your network grows, you can easily see what people in your network are talking about.

For those of you who do more B2B marketing, Linkedin has some powerful “listening” tools. There are numerous groups you can join (or even start your own) and receive regular updates on topics of conversation among the group members. There is a Question and Answer section where users post questions and other users provide answers. Keeping track of the questions being asked, and reading responses to questions in areas of interest, is a way to see current thinking and meet new contacts.

In the next post, I will discuss more active methods of gathering market information through Social Media. I encourage you to comment of this post as well as suggest ideas you have used!

I can be found on Twitter, (@Consultingwood) on Linkedin, (http://www.linkedin.com/in/ralphbagnall) or via email at: rbagnall@consultingwoodworker.com

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2 Responses to “Social Media as Market Research”


  • Comment from Andrea Blackford

    Hello Mr. Bagnall,

    What a terrific blog article! I found this very informative and am sure anyone who is not familiar with these various social media avenues will also find it of interest. I discovered this article through an answer you provided to a LinkedIn Question and Answer forum.

  • Comment from Administrator

    Andrea, I appreciate the kind words, and am happy that you got value from my thoughts on this. Since you are on Linkedin, please feel free to add me as a connection.


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