More & more companies are adding people with titles like "Manager Of consumer Insights" or "Data analytic specialist". However plenty of of these positions are nothing but a renaming of Market Research people & departments that still depend on elderly market research methodology to gain insights from consumers who, by the time the insights are analyzed & acted on, have moved on to competitors products. Consumer insights people must be able to things well identify key insights but more importantly be sure the organization acts on those insights with speed & quality without weeks & months of meetings & Power Points.
Social Networks & Weblog sites dominate Americans' Web time, accounting for 23% of time spent online, over two times the amount of time spent on the online games. To further put this in to context, time spent on other online categories combined, only accounts for 35% of Americans' total Web time. Although now much of the web access has been started & very reached to a bit comparable stage in Asian markets like China, India & Southeast Asia. In more time to come this would even surpass to all records.
Many of well known leaders of big consulting & FMCG firms of the world have been increasingly vocal in articulating a compelling vision for social media's role in marketing research..to cast the social media net wide beyond simple brand monitoring to derive deep, unexpected consumer insights about unmet needs & alternate makes use of for products.
Some of the main reasons for including #socialmedia in marketing research are that through this everything about the consumer could be known. Understanding track & respond to latest trends in real time, also customer satisfaction & product quality can be articulated & measured through social media research in the language of the customer. Although learning about consumers through traditional Marketing Research is expensive. It is feasible to derive deep, significant, real-time insights across numerous consumer segments and topics far more cost-effectively through social media research.
Author of ths article : Harsh Asthana
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