Social Media Monitoring in Market Research

In the digital age, traditional market research is still an important tool in gaining insights into your customer base. There is a lot you can get from focus groups, interviews and surveys.  Having in-depth conversations with your customers and getting them to answer your burning questions will always be important. However it is important to remember that this is not the only way. Adding social media monitoring is a dynamic way to enhance your market research insights.

Here are 4 reasons why you should also use social media monitoring as a form of market research:

1) If you want a true, honest and emotional look at what is being said about your brand, competitor brands or your therapy area then use social media to hear what is being said online. This is a place where your customers are interacting without the “unnatural” setting of a focus group. It’s as close to unbiased as you can get.

2) Conversation in focus groups and interviews is led by the interviewer/group leader, online the conversation takes place organically. You are getting to see what is important to customers and what they are talking about amongst themselves without pharma’s interference.

3) Traditional market research can be a slow process. It takes time to organise focus groups and analyse data. Social media monitoring shows you what’s being discussed in real time. It’s your way of having your finger firmly on the pulse. If a doctor is spreading incorrect information about your brand then you can correct them immediately. If you want to know the impact of your latest campaign, you can listen into the conversation and see what is being said.