Importance of Social Media in Market Research
In this digital era, any marketing strategy is incomplete without market research. The rise of social media has meant campaigns that take into consideration and understand consumer habits. They are more likely to be effective for market research.
A media agency based in Cape Town, Limelight Consulting. It has stated in its recent release “Social Media Usage Report” about the latest social media behaviors and their importance.
1,200 consumers. were surveyed by the agency. Each of their client’s briefs created a sample of well over 33,000 annually. The data was analyzed and interrogated constantly. It was allowed for nimble campaign maneuvering and the latest trends and metrics are kept abreast.
Ross Sergeant, MD, Limelight Consulting states that their sample is bigger than the Establishment Survey. Their usage report offers them a very deep understanding of consumer psychographics, which industry data is not giving them, allowing them to form custom segmentation for clients and draw real insights on new media and traditional media – all in one.
The report also stated that in South Africa, the percentage of digitally-connected adults who use Facebook daily is 72%. The number of people who have used Facebook in the last one week is more than that of those who watched TV. Young adults, ranging from 18 to 24 years, are 8% less likely to engage on Facebook but more likely to engage on other social media platforms.
In short, social media is a cluster of consumer-based knowledge, which generates masses of data every second. As such social media analytics has become a large section of market research. Social media analytics is the process of data analysis and data collection yet this term is often misunderstood. Through the broad utilization of smartphones and the making of different online networks on social media stages like Facebook, Twitter, and Instagram, web-based media investigation permits understanding experts to order a ton of information, which produces important experience on their crowd.