How are Brands and Companies Leveraging Social Media Platforms for Market Research?
Market research as a topic is vast and extensive to understand and adapt. At times, it also takes up different formats depending on the requirement of the business entity. But when we talk about the business-to-business system, market research and social media play an essential role in the plan. With the raging advancements and developments in social media, various categories of companies have started leveraging social media for their market research needs.
Some of the most commonly used social media applications for market research are Facebook, Instagram, YouTube, Twitter, Quora, and other similar applications. The success of different segments of enterprises on social media demonstrates that every industry can reap benefits from these platforms.
How are Companies Using Social Media as a Helping Hand?
All the organizations, especially B2C ones, are excellently disseminating helpful information to their target demographics and audiences. The information received from various quantitative and qualitative research methods conducted on social media platforms is used on the same platforms to leverage overall sales. This approach helps in understanding a different perspective toward consumer perceptions.
COVID-19 pandemic period saw many small-scale brands emerge across the globe. These small businesses are only present on social media platforms such as Instagram or Facebook to sell their products. Most of these products are handmade and customized per the customer’s requirements. Due to this, the demand for such affordable and small-scale brands is very high in the market.
Small businesses and even well-known brands have started utilizing social media on a large scale to uplift their brand name. With the introduction of influencer marketing and paid partnership approach, many brands and influencers have gained popularity in the industry. Eventually all of these factors affect the market research methodologies and techniques.
Can Market Research Data and Analysis from Social Media be Used Efficiently?
IBIGRS is a driving force behind market research services for different business categories and industries. They have the expertise in high-end research data processing and analysis and can help their clients with multi-functional research methodologies. But at times, brands tend to generate data with the help of social media insights and need help understanding and utilizing them in the best way possible.
Hence, it is essential not only to leverage social media for market research insights but also to leverage the collected information in the best way possible to achieve product or brand visibility in the market. IBIGRS can do just that and more.
