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Effective market research can deliver ample information about your target audience, which can align to strategy and implementation. It forms the basis of everything you create and gives you direction when launching campaigns. There are numerous ways of conducting market research, with social media being one of the most cost-effective.

Here are our tips on how to nail market research using social media.

Stay One Step Ahead Of Your Competitors

In a world where competition is fierce in almost any given niche, staying ahead of your competitors is non-negotiable. There are a number of ways to do that, but gaining a little inside insight is a good start. There’s a really good chance that your competitors are on social media, and everything they’re doing is open for public consumption.

By monitoring their activity on social channels, you can gain a good idea of where their strengths and weaknesses lie.

  • Monitor their posts and see how well people engage with them, and how your competitors respond
  • Read through customer reviews to see where your competitors are falling short and how they’re dealing with these shortcomings
  • What is creating a stir on their channels and how can you leverage off that or even replicate it in a better way?
  • Conversely look at what is getting zero attention from the audience so that you know what types of content to avoid

Explore The Audience Demographic

Using Facebook Insights or a high-quality social media metric tool, you can explore the demographics of your audience and learn a little more about them. Identifying your typical audience members and what content they are more inclined to engage with will help you create targeted content that is relevant and informative.

Listen To Your Audience

Often your audience will engage in personal conversations on your social pages or as an extension to your social channels. Listen to what they’re saying and see how you can help them, engage with them or give them further insight, if possible. Often their responses to your content are a goldmine of information if you pay attention to keywords and underlying messages. Sometimes they can be as straightforward as coming out and telling you what their favourite products are.

Listen to what they say, even the nuances of what they say and learn more about what they want and expect from you.

Ask Questions, Use Polls

One of the easiest ways to get direct information from your audience is simply to ask them. Set up a poll or ask a question in your next post. Some people will be more willing to answer than others, and some will offer you a wealth of information. Use your questions wisely and use this as an opportunity to learn more about what they want.

Market research doesn’t have to be difficult. We can simplify it for you to the point of being painless and even fun! Contact us today to set up a consultation.

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