Ninety-two percent of business leaders say social media insights help improve their brand’s competitive positioning. Social data taps into deep competitor insights, such as what people like about competing brands and how customers respond to them. All of which guide how you can differentiate yourself from the pack.
Predicting future trends and filling market gaps
Market research through social listening helps you car owner data know where consumers are going next, per 89% of business leaders, who said that social insights impacted how they predict future trends. Social media market research gives you a holistic view of the market so you can identify emerging trends and plan long-term and short-term growth campaigns. And so, enabling you to take advantage of market gap opportunities and expand your market share in a focused way.
Optimizing your business with less spend
Seventy-six percent of business leaders say that social media insights have positively impacted moving their businesses forward with reduced budgets. With close to five billion people on social media, it provides a cost-effective way to magnify your brand, engage with customers and reach out to new audiences. It helps brands personalize campaigns and customer care more precisely and at scale.
8 insights you can glean from social media market research
Social listening data is a valuable source of market intelligence. But with all that raw data at your disposal, it can be challenging to sift through the noise to capture what is truly important and can make a real impact on your business strategy.
Here are eight actionable insights you should pull from your social media market research and how to find them.