Four Ways SocialToaster Can Bolster Your Market Research Initiatives

 

Who are your customers? Your social fans? Your advocates? Your brand’s besties? Those customers who can’t wait to share your latest content?

These are the million-dollar questions that market research strives to answer. When it comes to getting a better understanding of who your social advocates are, there’s no better place to start than with your advocates themselves!

For most brands, the lure of advocate marketing is obvious: with an advocacy marketing program, your brand can leverage the full social power and reach of your brand’s Superfans by empowering them with the tools they need to share your brand’s content. However, while the additional reach and engagement is a primary benefit, there are several secondary benefits to a well-run advocacy marketing program, chief among them, your advocacy marketing program is the perfect environment for conducting market research.

The blogging platform Social Media Examiner found that using social media to conduct marketplace research ranked as the third most valuable benefit of social media. Your advocate marketing program is ripe with actionable data; here’s how SocialToaster can help you garner key insights about your advocates and their lifestyles.

 

What Information Is Important To Your Marketing Efforts?

Most businesses have a data horde mentality: “We want all the data we can get, every piece of insight, even if we have no idea what we’re going to do with the data once we have it.”

Before starting your next market research initiative, take a second to outline the specific data points you want to capture. What are the key learnings that are going to help you move your revenue forward?

Most everyone knows the basics:

  • Age of your average consumer
  • Gender of your average consumer
  • Location of your average consumer

But, you also need to get into the minds of your advocates and consumers. Specifically, you need to understand:

  • What motivates them?
  • What are they most afraid of?
  • What do they value?

Unfortunately, there’s no checkbox inside Facebook Insights that tells you what your advocates are most afraid of. Heck, I’m sure it’s even tough for your advocates to vocalize it themselves. However, by getting a more rounded understanding of your audience’s specific drives, you can produce marketing materials and content that speaks to their core belief structure. Not only does this increase engagement on your shared content, it also increases overall revenue and sales.

 

Using SocialToaster To Conduct Market Research

Think of your advocacy program as your brand’s personal focus group. Your advocates aren’t just a loudspeaker. Their sole job is not to simply amplify your content to their friends and family. Successful advocacy program managers know that they need to listen to what their advocates have to say. That’s why we built a number of social listening and feedback solicitation tools right into the SocialToaster platform.

Market Insight #1 - Demographic Analysis
Did you know that SocialToaster has a built-in audience insight tool? As advocates join your program, you’ll be privy to a host of key data points, including breakdowns of

  • Age
  • Gender
  • Location

You can also export a list of your advocates’ email address that can then be uploaded into the audience insight tool of your choice (like Facebook) to get insight into the psychographic likes and dislikes of your audiences.

Market Insight #2 - Building a Full Advocate Profile Through Surveys
SocialToaster makes it easy to gather specific information from your advocates through our built-in survey tool. Through this feature, your advocacy program manager can easily create, publish, and distribute surveys to your advocates.

Focus on key questions that help you better understand the motivation of your advocates as it relates to your business. Ask questions that guide a positive conversation like:

  • How many people live in your household?
  • Where do you want to go on your next vacation?
  • What was the last book you read?

Don’t ask questions like:

  • Are you more afraid of spiders or clowns?
  • Do you believe that Chris Pine could beat up Chris Evans?
  • What’s your biggest regret in life?

As a best practice, it’s better to opt for multiple surveys spread over the life of the program than to try to cram all of your questions into a single, giant survey. Very few advocates will take the time to complete an hour-long, 100-question inspection.

Pro Tip: Tie-in an incentive for advocates who participate in your survey. After all, your advocates are the ones giving your brand a hand by completing your survey - they deserve a little something for their efforts. 

Market Insight #3 - Content Analysis
Just because your audience tells you they want a specific type of content, doesn’t mean that they actually want you to create it for them. Yes, it’s confusing, but it's true. Remember the adage, “Show don’t tell.”? That’s where SocialToaster’s content and share insights come into play.

Within our dashboard, your brand can easily review the performance of each piece of distributed content. Take note of pieces that are regularly being shared and engaged with. Are there common themes or topics that rise to the surface?

By understanding the type of content that’s resonating with your audience, you can start creating more of that content. Additionally, you can use these insights to support your other marketing initiatives, from paid advertising to website design, and even product development.

Market Insight #4 - Get Real-Time Feedback

Gone are the days of having to hire an expensive focus group firm and waiting weeks (or months) to get feedback on your latest product or idea. With your advocacy marketing program, you can get market feedback within hours!

By using our built-in survey and quiz functionality, you can share your next great idea with your advocates and illicit responses back from them in real-time feedback. By taking the time to engage with your advocates, you’re communicating that your brand values both their input and their participation. Feeling valued is paramount in helping your brand’s program form a lasting connection with your advocates.

 

Your advocates aren’t megaphones; they represent the key consumers who have a vested interest in your success. After all, they love your brand so much that they choose to share your content on their social media profiles. Listen to what they have to say, get a full understanding of their needs, and use that to produce content and products that help enrich their lives.

Want to learn more about how SocialToaster can help you optimize your marketing and content? Talk to one of our advocacy marketing experts today!