When you look at customers, consumers and employees, they intentionally or unintentionally expose data points using social media. As a market analyst, you can bucket the various data points into common themes and answer questions related to marketplace gaps, product development and even more strategically oriented questions such as expansion opportunities.
Now you can use Beevolve to answer questions such as
- How are my competitors doing on social media?
- Who is talking about my competitors and what are they saying?
Social media has been growing at a great pace since its adoption. What’s more intriguing is that consumers seem to be adapting to the social sphere more aggressively than marketers. Hence, social media will be able to reflect brand performance more quickly as compared to offline brand performance. If used correctly, this powerful medium of user generated content can shield a business from market fluctuation and give the business a strategic direction based on upcoming trends. On a granular level, it will help in understanding the consumer decision journey, hence allowing you to tap into channels for better returns.