Social media market research is the process of congregating historical as well as real-time data from social media channels to identify the brand's target market. CheckBrand’s Advanced AI tools enables you to collect and analyze information from all of your brand’s social accounts in one centralized platform
Seven frequently used types of market research
Customer decision journey
Marketing message testing
Why do market research?
Social media is a lot cheaper than surveys or focus groups, which is usually a ton of money depending on the size and complexity of your research panel.
While traditional market research methods may take some time, social media is always updated in real time and you can get instant data from social networks.
There's no shortage of data on social media, and our tools make it easy to analyze conversations and trends across your industry, not just your brand.
Fragmentation of Audiences
Effective market research assists in the fragmentation of the consumers at the micro level possible. Fragmentation of the consumers ultimately helps in reaching the targeted group of audience, a business should reach
Market and Media Analysis
Market Research is crucial to understanding your favorable market and media. From understanding the market and media, the identification of crucial components can be identified such as competitors, consumers, and more.
How to do Market Research?
Define your research objective:
The first step is to define your research objectives. Ask the following questions before initiating research:
What is the key information you would like your research to uncover?
What do you want to know about your customers or your market?
Develop your research questions:
After identification of market, make sure research questions for your market, customers and competitors are prepared For example:
What are your market's key demographics (for example, as age and gender)?
If you're starting a new business or product, how will your entrance affect the market and customers?
Does the region where you operate have a stable economy?
Gather your Research:
The next step is to gather your research from distinct digital media platforms. Then transform the gathered data into an effective spreadsheet for finding the outcome
Interpret your findings:
Interpreting your findings basically means what have you discovered from the outcomes. Interpreting your data is very important to improve your market campaigns
Draw conclusions and make decisions:
Once you have your findings, ask:
What do your findings mean for your business?
What are you going to do about it?
How it is Beneficial?
what consumers dislike about your brand
You probably don't have to look too hard to find what people don't like about your brand or your products. In addition to searching for branded keywords and phrases, consider checking your social media inbox for direct messages that include constructive criticism. This is also a great opportunity for social teams to solicit feedback from sales or customer service teams who hear directly from customers about their likes and dislikes.
What consumers expect from your brand
Consumers often take to social media to share what they want to see from brands in the future. You'd be surprised how many people respond to a question posted on Twitter, LinkedIn and Facebook with their thoughts and ideas.
See what trends consumers are interested in
Jumping on the right trending topic at the right time on social media can be a jolt to brand awareness and customer engagement. To quickly see what's trending, check out the explore tab on platforms like Twitter and YouTube, or use a tool like Google Trends to see what topics are trending. Identify trends in your industry and topics that are most relevant to your customers with CheckBrand tools.
Find what social content resonates with your audience
Start by looking at the native analytics and data overview tabs for each social channel. For more detailed insights, you can sort by impressions, engagement and clicks in Checkbrand's detailed brand reports to determine which formats and topics are most effective on specific networks.