As we noted in our White Paper "Beyond Blogs and Tweets" Market Research reports are a better source of accurate and actionable research for your business because it is so hard to discern whether social media information is opinion or fact. An article in the Monday, April 25th Wall Street Journal illustrates at least one way to leverage social media for market research.
The article on customer feedback explains how language learning company Rosetta Stone Inc, is using Facebook for what I'll call "real" market research.
Since Facebook allows access to demographic information, Rosetta Stone used this capability to find a new niche market based on those who were fans of mental challenges, a group outside the core of their customer base.
They created new ads targeting this group and found customers in a new place.
That's not opinion. That's using data to learn about what your customer is doing or how to expand your market.
Hey, that's Market Research.
Rob Granader
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