We often hear of companies who’ve seen massive improvements in sales, revenue and market share through the use of consumer insights from social media. But just how do they do this?
Scoping a consumer insights can be overwhelming, especially with an estimated 4.4 ZB of data floating around the internet. Where do you start, and what can you really do with social insights?
Here are four client use cases, where consumer insights from social media and the internet were analyzed to boost product marketing strategies through the following methods:
A company providing real-time driver assistance technology systems and related services wanted to understand customer needs better.
This community-based brand with a robust membership of 5 million users in Europe paid close attention to user discussions on social media to optimize their product features and offerings.
The company developed and launched a new product based on needs expressed by consumers on social media. Such needs included: reverting back to physical buttons from touch buttons, and a permanent display of driving data on-screen. Overall, this new product achieved:
An online dating brand needed to differentiate itself in a highly competitive market, and increase the number of sign-ups on their platform.
To do this, they looked at key insights from consumers’ conversations on social media, and where they were happening to determine important factors for users and where discussions were happening.
While the brand’s social listening project initially focused on Facebook conversations, they soon realized many conversations also occurred on Twitter, which expanded new possibilities for listening.
With the help of insights from social media, the marketing team detected an untapped pool of target customers: single parents struggling to meet new people. This led the company to launch a new product campaign targeting this demographic.
A global insurance company launched a new health insurance offer in Southeast Asia. As this product was launched a little later than similar offerings from their competitors, the company needed to differentiate their product offering to encourage people to choose them.
Although the product was launched 11 months later than competitors’, the product became a market leader within 4 months of launch, with a 47% online share of voice.
Through social media listening, the company monitored public conversations around AR, and mapped and assessed existing competitors to estimate the main strengths and weaknesses of current products through their insights team.
By analyzing the market, trends, and consumer sentiments, the company were able to develop a state of the art report on consumer opinions, categorized by age and socio-economic characteristics to inform their market entry and communications strategy.
The brand were also able to avoid potential pitfalls and barriers for advertising the product’s launch, as well as promote key features favored by consumers on social media. The final product ranked as one of the best commercial successes for an AR headset.