Social media is no longer just a means of staying connected. Today, it has the power to create communities, establish trends, and build or break a brand. In terms of market research, social media can be an invaluable tool in helping marketers understand the audience to whom they are selling. Real estate coach Adrian Bo has thirty-two years of experience in the industry and an insider’s view of the power of social media and the psychology behind selling. Here, he shares three ways to leverage social media for intensive market research.
Track trends
Adrian Bo advises following trending hashtags to understand the social climate within which you are selling. “Trend forecasting,” he says, “is an invaluable tool for staying up-to-date on your chosen market and what sells within it.” Analyzing trends can help you to prepare a robust online strategy.
Get real-time insights
According to Adrian Bo, the speed at which information can be shared through social media platforms is one of the most significant advancements in marketing. Gone are the days of organizing focus groups and letting information from consumers slowly reach you. Social media platforms can deliver direct feedback from consumers in real-time.
Research your competitors
Adrian Bo shares that analyzing how your competitors interact with their audience can give you priceless insights into what customers are looking for. This analysis can help you devise ways to fill any gaps that your competitors might have left in their marketing campaign.
Adrian Bo believes that the power of social media in the field of marketing should never be underestimated. It is his belief that every marketing campaign should have a solid online strategy that fully utilizes social media and uses it to better understand the market in which they are selling.