The Future of Market Research: Brandwatch Publishes Social Consumer Market Insights Industry Whitepaper
Brandwatch, the leading social intelligence company, published a new expert paper on Social Consumer Market Insights (CMI). The whitepaper details specific uses for social consumer insights from real-world applications of social data. Professionals and executives at major companies – from consumer electronics to retail – are utilizing new combinations of data to better understand and activate consumer market insights for marketing activities and throughout the enterprise. The free whitepaper can be viewed here.
The Brandwatch whitepaper, “Ideas from the Experts: Social Consumer Market Insights,” highlights major trends discussed during a roundtable with leaders from some of the world’s biggest brands and agencies. Brandwatch developed this paper to help other brands and agencies evolve their market research and activate social CMI through different tactics.
Social media has significantly augmented the market research landscape; it’s faster and less expensive to find the voice of the customer online rather than conducting focus groups or executing traditional surveys. Online analysis tools provide an audience view that is as broad – or as narrow – as researchers require.
“Traditional market research is not pliable. It takes time and has a very short shelf life,” said Will McInnes, Brandwatch CMO. “The benefit of social is that it’s a live focus group. You determine the rules. It’s direct, it’s instant, it’s unfiltered.”
Some of the findings include:
- Surveys are critical but they aren’t enough; consumer insights and marketing teams are blending traditional market research data with social data to confirm and assess campaign effectiveness, brand reputation, and more
- Social data empowers businesses to be nimble and smart; the continuous nature of social listening and analytics allows brands to identify trends and jump on opportunities before the competition
- Social CMI reaches far beyond the marketing and consumer insights teams; from investor relations, employee influencer activation, and even product development, this paper details use cases for sharing social CMI to help brands create employee influencers and make better products
Read the complete whitepaper to learn how you can implement social CMI into your business.