3 Simple Ways to Gain Product Insight

By Dhara Naik Before the days of social or even digital media for that matter, companies used to spend countless hours setting up focus groups and intensive surveys to figure out what their customers want and to influence new products.

With the rise of social media, it’s never been easier to conduct simple market research with a little bit of collaboration and creativity.

Here are three simple ways that you can effectively use social media to gather market research without the resources, cost and time.

Brand Ambassador Group

Challenge your Facebook fans to tell you why they’re your most loyal fans and select a group of exclusive fans that can serve as your virtual focus group when you’re looking for new product ideas or to get feedback on an existing product. Asking the right questions about your new service or product will help you cater to your audience and there is nothing more empowering than co-creation.

Compelling Contests

Sure, it’s easy to ask someone to fill out their name and email address for a prize to infuse your email database, but aside from an increase in open rate, CTR, referral traffic and maybe some sales, what is the value add for your business? It probably takes more time and effort to organize the contest and obtain a prize. Instead, why not create a contest around market research? Ask your fans about a product or let them come up with an idea for your upcoming holiday campaign. Like brand ambassadors, people are more likely to enter a contest and share their thoughts when they feel like they have the ability to impact your business. Collaborate with your product team and see how fans can help you!

Creative Content

Perhaps the simplest way to gain insight from your fans is to ask questions. Whether it’s through Facebook, Twitter, or even LinkedIn you’ll be surprised the about the type of information people are willing to share with you about how much they like a product or how they would enhance a feature. Facebook poll questions are a great tool when you’re looking for insight on a specific product or service and you want immediate results. Everyone loves to be a critic so use that your brand’s advantage.

How else do you use social media to influence product or service decisions?