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Steroids, Social Media, Barry Bonds, and Market Research: How Do They All Connect?
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Steroids, Social Media, Barry Bonds, and Market Research: How Do They All Connect?

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If leveraged properly, this evolution of social media can be a gold mine for market researchers. Mike Moran, in his article titled Will social media listening replace market research?, delves into the …

If leveraged properly, this evolution of social media can be a gold mine for market researchers. Mike Moran, in his article titled Will social media listening replace market research?, delves into the impact social media is having on market research. In the end, he answers his title’s question with a “no.” Social media listening will not replace market research, it will simply change it. Consumers are no longer as eager to participate on panels or take surveys because they now have many other venues to express their opinions. Why take the time so sit on a panel when you can send a 140 character tweet that gets the same message across to the company and thousands of your followers?

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  • 1. Steroids, Social Media, Barry Bonds, and Market Research: How Do They All Connect?Twitter, Facebook, LinkedIn, and countless other social media sites were either non-existent or in theirinfancy just five year ago. In the five years since, they have unquestionably changed society in generaland business as well—including market research. Sounding boards that previously didn’t exist are nowflooded with comments from millions of users from all over the world. It’s almost as if social media is toword of mouth what steroids were to Barry Bonds. He went from hitting 30 home runs a year to 70, justas a good (or bad) review of a brand used to reach a few people and now might influence thousands, oreven millions.If leveraged properly, this evolution of social media can be a gold mine for market researchers. MikeMoran, in his article titled Will social media listening replace market research?, delves into the impactsocial media is having on market research. In the end, he answers his title’s question with a “no.” Socialmedia listening will not replace market research, it will simply change it. Consumers are no longer aseager to participate on panels or take surveys because they now have many other venues to expresstheir opinions. Why take the time so sit on a panel when you can send a 140 character tweet that getsthe same message across to the company and thousands of your followers?What Moran does not answer in his article is how market researchers can adapt their market researchproject work to take advantage of the data and mechanisms available via social media. So the questionbecomes, what best practices or guidelines can researchers use to adapt to these changes? Well,Research Rockstar has some concrete suggestions. Check out Research Rockstar’s class “Social MediaMeets Market Research” to learn how to take advantage of all the good social media provides, and avoidthe many pitfalls (the next session meets August 27th).[To register for upcoming Research Rockstar classes, visit our store. We have manyupcoming dates for over 20 topics.]Author Bio:For more expert tips on market research subscribe to Research Rockstars free newsletterat http://www.researchrockstar.com.Have a market research question? Kathryn Korostoff is president of Research Rockstar, acompany that delivers online and in-person training to busy professionals seeking marketresearch excellence. Kathryn is a market research professional with a special interest in howorganizations acquire, manage, and apply market research. Over the past 20 years, she haspersonally directed more than 600 primary market research projects and published over 100bylined articles in trade magazines. http://twitter.com/ResearchRocks 1