Tuesday, February 9, 2016

How Social Media Supports Market Analysis

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Social Media
Nobody can deny the importance of social media in life. You will hardly find anyone who is not familiar with social media. It also supports different fields such as, politics, business, education etc. along with all this web industry has really helped in marketing researches and analysis.

The Importance of Marketing Analysis: Marketing research is the highly paid profession in the whole world. This shows it’s important for any business and marketing activity. Marketing research is a systematic procedure to collect the customer feedback for any business. This feedback is useful for many purposes for instance, analyzing the exact needs of the customers, developing new product, re positioning the old product and many more. There are different ways and processes conducted by any researcher for getting proper feedback from the potential buyers. Any business owner can hire an external researcher or internal researcher for conducting the procedure of research. There are different tools for conducting the research online or through social networking sites.

Computer Assisted Questionnaire: Questionnaires are always very important for any research because they provide authentic and brief information which is required. For conducting research online computer assisted questionnaires are very useful. You can select the sample from the population depending on your particular criteria. Then you can share your questionnaire openly on social networking site and any random subject can fill it. And you can also send it individually to every subject in order to maintain the confidentiality and privacy of the subject.

There are many different ways of conducting the computer assisted questionnaires. These ways includes the email questionnaires, social site questionnaires and many more. You can collect all desired feedback from the users of social networking sites then you can prepare the report according to the collected feedback.

Online Interviews from Customers: When a researcher has to collect detailed information about any particular aspect online interviews are very essential. Interviewing is another tool of researching and it is used when researcher wants detailed information and knowledge about the market. It is practically not possible to take random sample from the population to gather required information about the problem statement. So, a researcher usually selects subjects to get required information about the problem statement. A subject is selected according to the criteria established by researchers.

Blogs Commenting: A researcher can also get feedback from the comments of the customer on the blog posts. The blogs are posted by many technicians on the official website. These blogs contains the information and reviews of the product and the web masters give answers to different questions asked by different visitors. A researcher selects the authenticate feedback from the customer with the help of blog comments.

Marketing analysis is most popular and important profession globally. It gives answers to many upcoming problems for many companies. Many companies do marketing research regularly with the help of social media. As it is the easiest and quickest way of analyzing the market trends and requirements for the company.

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