The benefits of Social Media Monitoring for effective market research

With the continual growth in usage of the internet, the volume of Social Media traffic as expected is still on the rise. Marketers are realising that, by infiltrating and incorporating their brand into media platforms consumers use daily, they can see a noticeable increase in their return. Through interacting with their brand by checking in, posting images and recommending to peers, consumers can become key influencers and powerful ambassadors for a brand. The customer experience has become a significant opportunity to grow revenue, and consequently companies are very much increasing their Social Media presence.

Effective Social Media Monitoring can therefore provide key insights for marketers into the success of advertising campaigns through digital means such as reach, click-throughs and new followers. Social Media Monitoring therefore allows marketers to have access to more detailed statistics than traditional marketing media such as radio, television and print.

There are a vast array of benefits for a business to utilise Social Media, one of the most crucial being market research. With software continuing to develop and improve, the scope of collating insight into consumers’ viewpoints is remarkable. The data collected can be a very good indication of how visible a company is within the public perception and provide insights into a brand’s actual, rather than estimated, target. From this information, comparisons of market share can be speculated, and analysis into customer feedback can be addressed. It is beneficial to have a clear understanding of online sentiment, which can be heavily monitored through Social Media, and can also give a good indication of attitudes and feelings towards a brand’s products or services.

Effective Social Media Monitoring can provide a great way of revealing a company’s online share of voice, particularly when comparing data and approach to competitors, for example in gauging the success of a campaign or new product launch. A fair representation of brand image can be ascertained, which subsequently leads businesses to establish the strengths, weaknesses, opportunities and threats which can affect a brand name in the public domain.

To find out how Social Media Brand Experts can assist your business with successfully navigating the various social platforms, our Social Media training packages are bespoke for every client and will help you in reaching your target market more effectively.

For more information on how Social Media Monitoring can help with your market research, drive sales and interest in your products and services, contact Social Media Brand Experts (SMBE) on query@socialmediabrandexperts.com, +44 (0) 2031 029 690 or through Twitter @SMB_Experts.