Technology in Market Research: Social Media

As the world around us evolves, so too must the market research industry.
With more and more people flocking to social media websites, like Facebook, Twitter, Google+, LinkedIn, and Pinterest, the way in which individuals gain information about and interact with businesses has fundamentally changed.

Social Media Usage Statistics

  • Facebook has 845 million active users.
  • Facebook accounts for 20% of all page views on the web.
  • Twitter has 127 million active users.
  • There are over 175 million Tweets per day.
  • LinkedIn has 150 million registered users.
  • There are 2 million companies on LinkedIn.
  • Google+ has had 90 million unique visitors.
  • Google “+1″ buttons are clicked more than 5 billion times a day.
  • Pinterest has had 21 million unique visits.
  • In January 2012, Pinterest was driving more referral traffic to retailers than LinkedIn, YouTube and Google+.
Because of the above statistics, many market researchers are utilizing social media to better serve their clients. Social media provides market researchers with first hand perspectives into the beliefs, needs, desires and behaviors of tens of millions of people across all consumer segments. And as involvement with social media channels continues to increase, this area will become even more important for researchers.

Benefits of Social Media in Market Research

  • No Size Limitations: Unlike surveys and focus groups, social media has no size limitations. Market researchers can reach record numbers of consumers in a single location.
  • Real-Time Insights: Researchers can track and analyze emerging consumer trends in real-time.
  • Consumer Comfort: Consumers are much more comfortable voicing their own opinions on these social media networks, providing market researchers with 100% truthful insights.

Social media is just one more technology that is fundamentally changing the way market researchers serve their clients. By better understanding Facebook, Twitter, Google+, Pinterest, and other social media channels, researchers can begin to better understand people.

Check back next week as we take a closer look at another Technology in Market Research: Research in Virtual Worlds.

To learn more, please contact Barbara Gassaway and the market research specialists at Observation Baltimore today by calling 410-332-0400 or click here! And if you are interested in participating in a future focus group, sign up at www.observationbaltimore/getpaid.

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This entry was posted on Tuesday, August 7th, 2012 at 9:20 pm. Both comments and pings are currently closed.

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