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Increase your ROI: Let the data do the work

Audiense

Could social data help you achieve this fundamental objective? On paper, calculating ROI could not be simpler: (Gain of investment – Cost of investment) / Cost of investment. What part does social data play in all this? What part does social data play in all this? Market Research. Influencer Marketing.

ROI 74
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Co-creation: Why creators should be part of your product development team

Sprout Social

Obviously, creators won’t ever man your customer care lines, but their in-depth knowledge of their communities (a.k.a. After all, an unfiltered comment section on a creator video will give you far better insight into your consumer than any formal survey or focus group ever could. your potential customers) can come in handy.

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7 ways to use social media for market research

Sprout Social

While focus groups are helpful to reference at the start of new product or campaign development, they’re less useful for gathering customer feedback once said post-launch. Social media market research is the practice of gathering historical and real-time data from social media channels to better understand your brand’s target market.

Research 144
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See innovation differently: How social media holds the key to true differentiation

Sprout Social

The sharp, brand-defining edges of inspired ideas are often worn down in focus groups as innovation teams strive for mass relatability at the expense of deeper relevance with their desired audience. Certainly, major missteps are avoided with such a measured approach—but so are opportunities to create significant connections.

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In bull or bear markets, social media intelligence makes all the difference

Sprout Social

Every company should strive to be driven by data. When I think about data, I inevitably think about social media. That might be because I spend my days working with our clients’ executives to capture the voice of their customer, but I think it’s because social media intelligence is the next data frontier.

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The pros and cons of social media

Sprout Social

Booktok , for example, has become a flourishing online community. And connecting with your audience goes further than making sales—it builds community, which can save you advertising bucks in the future. Between demographic data and post analytics, social media is a goldmine when it comes to better understanding your target audience.

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How To Use Customer Insight To Power Your Business

The Realtime Report

Although some ways of attaining such data are tried, tested and traditional, businesses are now finding that modern technology is giving them the upper hand. You may have conducted offline focus groups or non-structured interviews as a business, so you will most likely be aware that they are used to gather opinions and responses to stimuli.

How To 114