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You want to get ahead of the competition and start your product launch off with razor sharp precision and a lead on success but may not be sure how social media can help you do that. You don’t have to struggle to launch successful products, find your market niche or price what you sell. This flowchart outlines the approach to social media for market research, as part of our full ebook, Agile Market Research with Social Media, which you can download here: http://www.radian6.com/resources/library/agile-market-research-with-social-media/
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Community Ebook / September 2012 Agile Market Research with Social Media
www.radian6.com1 888 6RADIAN 1 888 672-3426 / [email protected] Copyright © 2012 Salesforce Radian6 [ 11 ]
How to Navigate the Market Research Process
DEFINE
Define the challenge, problem or goal. Use the resulting “elevator pitch” to direct your research and make it actionable and tight.
DEVELOP
Develop the plan for your research. Determine what tools you need, where your potential data pool is, and what questions to ask. Set us the measurement tools you need to track the data you get and get your spreadsheet dashboards prepared.
RESEARCH
Research and collect data over a set period of time using the criteria you outlined in the Definition process. This is where you will see the data flow into your spreadsheets and metrics reports from all of the platforms and places you are conducting research. Tag and track everything.
STUDY & ANALYZE
Study and Analyze the data you have collected. That will help you determine the strengths and weaknesses of your product, service, marketing plan or competitor in a space. Be comprehensive and thorough as you sift through the data. Pay attention to detail, nuance and sentiment to better predict the success of your goal.
REPORTReport your findings to your team. Be as complete as possible, and cite your sources where you can. Be prepared to defend how you conducted your research and to show the integrity of your data.
DECIDE
Decide! Remember, the decision may be how to launch or package a product but your research might also lead you to table an idea before losing money and time on development. Look at the research with an analytical, open mind.
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