Many people see social media as a way to reach out to clients or customers and as a necessity in the global market today. What they don’t always realize is that many of these social media channels can actually be a great resource and tool. Twitter, for instance, can actually be an invaluable tool for market research. This is a location where you can listen to your competition and to your customers without them realizing that you are doing so. You don’t have to send out surveys. You don’t have to worry about getting feedback or client response when you ask for it. Rather, if you follow the Twitter accounts of your competitors and your customers, you’ll see what they are thinking, reading, watching and doing.
Your market research is sitting there, just waiting for you to tap into it. Few business leaders and social media professional realize that this is an invaluable aspect of the social media revolution – and it’s one that can have a serious impact on a company that takes this approach seriously.