Market research is the process of gathering, recording and analyzing qualitative and quantitative data. The data that is collected through this process is typically related to a specific market’s characteristics.
Some of the techniques used to gather this data includes feasibility studies, advertising evaluation, customer satisfaction surveys, mystery evaluations, tracking studies and the like.
Market research should be treated as an ongoing activity. It’s smart to always be learning about your business environment, your customers/clients and their needs and preferences. Since the environment is always shifting and changing, you can’t stop doing your research about it. If you do, you’ll quickly lose sight of what’s important to your customers and clients.
One way you can do market research is by utilizing the tools you have available to you, including social media platforms like LinkedIn.
If your business just so happens to be using LinkedIn, I’m sure you’ve wanted to know who is interested in the products and services that you have available. Anna Sonnenberg has written a post on Social Media Examiner that she wrote where she describes 7 ways you can partake in the market research process using LinkedIn.
- Review LinkedIn company page audience insights
- Evaluate LinkedIn Content Analytics
- Check LinkedIn mentions
- Compare LinkedIn competitor analytics
- Host polls and ask questions in LinkedIn Polls
- Participate in LinkedIn Polls
- Analyze LinkedIn Hashtags
Make sure to check out the full post for all of the information Anna discusses regarding LinkedIn market research.