Everything we’ve discussed should excite consumer insights teams because there is an endless and ever-growing amount of data and information to explore. But so should other functions, as social media consumer insights are relevant to every function in the organization.
Marketing Teams
Marketing teams need to focus on social media listening. Campaigns and daily engagement on social media help them listen to responses and escalate to consumer insights, by which marketing teams can.
1) Measure The Evolution of Brand Equity. Whether their brand marketing initiatives and social media campaigns are having an impact on key brand drivers? Are customers perceiving the brand in the way the brand wants to be perceived? What areas of their brands are performing better than other competitors?
2) Track Campaigns More Accurately and Provide Better Insights. They may already know how much traffic is coming from social media, and how much engagement their posts are getting. But do they know if their campaigns are reaching the right consumers? Or what else do those consumers care about?
3) Manage Crises and Protect Brand Reputation. We talked about brand equity above. In the short term, digital marketers must be concerned with building brand awareness without putting the business in crisis.
4) Find and Work with the rIght Influencers in Your Niche. Influencer marketing is one of the most popular strategies, but sometimes it can be difficult to find the right partner. Social media listening and analytics tools can find the right influencers for brands, and they can also provide tangible metrics to measure their input-output ratio. The benefit is that marketing teams can have a bigger-picture insight to help guide their efforts.
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Product Development
We mentioned above that great companies and brands are good at using social media listening and analytics to develop new products. This is because they have tools to easily see what products their target consumer groups like the most (and want to share), real-time feedback on product launches, and can identify opportunities for innovation based on what certain consumer groups talk about most often. Consumer insights should work hand-in-hand with product teams to create products consumers want. Social media provides more accurate data anytime and anywhere.
Company Management
Company management must be very concerned about “brand health”. They want to know not just the number of products sold and the profits made, but also the future of the brand that the company has based on its reputation and track record. Consumer Insights teams should make it a habit to show executives how real customers feel. Social media consumer insights can provide a realistic assessment of their affinity for products, services, the company as a whole, and even the company’s senior management.
Customer Service
Customer service teams are most concerned with what makes consumers happy. It is undoubted that they already use NPS scores and other feedback tools to gather inputs. Social media provides a way to track customer responses without having to ask. Social media listening and analytics tools make it easy to collect and organize every comment about your brand and products. Social users love to share their recent purchases, and their posts can be more honest than a face-to-face conversation. Most importantly, companies and brands can effortlessly conduct data collection anytime and anywhere.
In conclusion, social media is definitely a great source of data for gaining consumer insights. There are 4.5 billion social media users worldwide who are sharing every aspect of their lives every day. Companies and brands alike need to start using social media to access all the data and information that is beneficial to create products and services that resonate with consumers. If you want to learn more about overseas consumer insights or are looking for a good VOC tool, follow Shulex VOC and learn more about our products and services, we’d love to help.