The Next Wave of Market Intelligence: Social Listening
Posted on May 18, 2017
Indulge me, for a minute, while I paint a picture of a data-driven marketer’s paradise. Imagine a persistent focus group of all the right audience segments sitting outside your office, with no prompting needed for rich discussion. You have instant access to longitudinal data about your customers’ emotions, opinions, and intent at the push of a button. Top it off with the ability to integrate quantitative data into these rich, qualitative datasets to examine growth trends. This isn’t just a pretty picture; this is what you get when you use social listening for market intelligence.
In this age of data-driven marketing, market research is essential to understanding the audiences you’re communicating with. In higher education, we conduct market research to help us develop new programs, inform our content or brand strategy, measure brand awareness, and guide our approach to fundraising. Whether in the form of interviews, focus groups, or surveys, traditional market research produces valuable market intelligence. Unfortunately, it can also take a long time to complete and can be very costly. But new technology and research techniques offer additional opportunities for market research. Today, I’d like to tell you a little more about social listening as a market research tool.
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