Harnessing Social Media in Online Market Research - SIS International Research

8/14/2019 Harnessing Social Media in Online Market Research - SIS International Research

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Presented to AIMRI Conference on Panels

Rome

March 5, 2010

Michael Stanat

Research Executive

SIS International Research


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Agenda Make Social Media more actionable for market researchers Explain what end-clients ultimately want from this research Explore new tools at our disposal Explain how to integrate new & old methods for robust solutions


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What is Social Media

ConversationPrizmbyguruBrianSolisathttp://www.briansolis.com/2008/08/introducing-conversation-prism/


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Why it mattersNew marketplace & customer behavior

Success or failure for organizationsSupports recruitment & traditional research

Social Media = New Opportunities for Researchers

Copyright 2010 2020. SIS International Research Inc. All Rights Reserved.


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Getting Clients on BoardPOSITIVE ONLINE ENGAGEMENT

51% of SM-enabled users say SMinfluenced purchases

97% of US brand followers wouldpurchase or recommend products

SM is 2.8 times more effective than paidads

More SM-users search daily for productterms than non-SM users

300% - 500% growth in Facebook usersaged 35-65

Growth area in integrating SM inCustomer Service

AdaptedfromConscore2009TheInfluenced

0 50 100 150 200

Totalinternet

PaidSearchAdOnly

SocialMedia(e.g.Twitter)

SocialMedia-widelydistributed

Sociamedial(e.g.Twitter)&PaidSearchAd

WidelyDistributedSocialmedia&Paidad

DailyMinutesperVisitor


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UncoveringUnmet Needs

MonitoringOpinion &Feedback

Testing Niche

Markets

CompetitiveIntelligence

Social Media Research Blueprint



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I. Uncovering Unmet NeedsApproaches

YouTube, TED, Qik, Twitter, Linkedin, YahooAnswers

Research bloggingCase study: SIS Netnography: Cosmetic Addicts

Key Success Factors

Time maximization Reading beneath the surface for insights Noting research gaps

Challenges

Proactivity vs. Passivity Clients DIY: Unilever, Dell, Marks &Spencers

Uncovering Unmet NeedsMonitoring Opinion &Feedback Testing Niche Markets Competitive Intelligence


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II. Monitoring Opinion & FeedbackApproaches

Research communities: Cotterweb Chatter Tracking: Brandtology, Radian6,

Bazaar Voice

Reviews: Yelp, Linkedin Answers Trends: Twitter Summize, BlogPulse

Case Study: SIS Brandtology

Key Success Factors

Time maximization Diversification of sources

Challenges

Treating opinion as representative

Uncovering Unmet Needs

Monitoring Opinion &Feedback

Testing Niche Markets Competitive Intelligence


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III. Testing Niche MarketsApproaches

Foodbuzz.com, Second Life,StumbleUpon, Ning, Hobby blogs

Audience measurement:QuantcastCase Study

SIS Alzheimer's Care Taker studyKey Success Factors

Engaging in respondents termsChallenges

Retaining respondents

Uncovering Unmet NeedsMonitoring Opinion &

Feedback

Testing Niche Markets

Competitive Intelligence


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IV. Gathering Market/Competitive Intelligence

Approaches

BusinessWeek Exchange Industry bulletin boards Google Alerts Compete.com Blurking on employee blogs Competitor hiring sites

Success Factors & Challenges

Diversification of sources Uncovering meaningful content

Uncovering Unmet NeedsMonitoring Opinion &

FeedbackTesting Niche Markets

Competitive Intelligence


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Recruitment Efficiency

CultivateMutually-Beneficial

Relationships& Partner

Sponsorship

Approachmany

targetedsources

Flexibleincentive

management



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ConclusionsSocial Media supports multiple research

practices.

Robust solutions integrate new & traditionalmethods.

Longterm opportunities & challenges exist withclients own D.I.Y social networks.

Researchers value is engaging & making senseof an important, dynamic customer touchpoint.



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Were Social

BusinessInsightsEnterpriseTechnologyTrendsin

2010

ROIresearchNov2008

HarrisOct2009

TheInfluenced.Comscore2009.

hGp://www.flickr.com/photos/deciter_interacMons/

Sources

Documents

Harnessing Social Media in Online Market Research - SIS International Research