More and more companies today are using social media research as a powerful research tool for their business. Research from and industry report from social media examiner , found that using social media for marketplace research and insight ranked as the third most valuable benefit of social media with 72% of those spending 11 hours per week using social media for researching reported seeing benefits. They also found that 78% of companies are planning to integrate social media data into marketing campaigns moving forward. It is important as ever to recognize the value of social media for marketplace insights and research.
Twitter recently partnered with MarketShare to do a study on the effectiveness of Twitter marketing on auto sales. The results from this study show that Twitter not only works for auto sales, but has generated over $700 million in car sales.
Especially in the B2B world, where customer relationships mean everything, having feedback and data directly from your market sector can greatly influence your marketing and sales strategy. How can marketers conduct research using digital marketing techniques?
Social media marketing has moved beyond bells and whistles and is now the mainstay of a sound digital strategy, along with having a transactional, mobile-optimized website and a clean database for frequent, automated emails and/or newsletters. But while social media is now recognized as important, in particular within the travel vertical, managing it remains a constant challenge.
Context always matters. Whether it's what we write or what we say. Everything detail has the potential to affect the context of what we think or say. Whether we're marketers or researchers, we always need to understand the context of what's being shared. It frames all the decisions we make and all the strategies we subsequently conceive.
A competitor analysis provides you with the knowledge to make an informed decision on what aspect of your company gives you a competitive edge.The customer is your judge, and they have done their research. So should you.