Listening to Social Media is Good for the Beauty Business – Part 2
Social media offers beauty brands a powerful channel through which to engage their target market. There are many influencers, some more vocal than others, who can be of value to businesses. Here’s why…
The Limitations of Traditional Market Research
Traditional product research has great value for many industries, but not the fast moving world of beauty.
There are short product lifecycles and when faced with how long it takes to deliver substantial data via traditional research methods, customers will already be moving with the seasons and differing trends – opinions will be noticeably changed.
In the old days, if you wanted research to be high quality and you wanted it quickly, it could be done, but it was expensive and the value of the information was often less than the research cost. If you wanted to spend less, that could be done too, but using many fewer respondents with less representation regionally/globally – how representative would it be?
The Power of Listening
The internet is an amazing platform for generating powerful customer insights, when used appropriately.
While there’s no question as to its potential to reach out to and communicate with large audiences of engaged buyers, it’s the capability it gives you to listen to what those buyers are saying, and understanding the nuances, that makes it indispensable. The reason why insight from social media commentary is so good, is because it’s spontaneous. Because users are engaged in social activity, there’s no agenda. They are not being influenced by a researcher or being asked about something that they don’t have an opinion about.
You are listening in on everyday chats, where people are sharing how they really feel about their lives. By monitoring what people are saying, authenticity is a huge benefit that ‘s difficult to achieve with traditional market research.
There are 5 key benefits:
You find out how people feel about you, your competitors and the products you offer in real-time.
You have access to statistically large numbers of people which can be analysed by sentiment.
The remarks are likely to be more genuine because they are unprompted.
You have access to people around the world and can easily assess comments to compare and contrast how people feel in specific regions.
Depth of Understanding
Far more than just functional elements, you find out where your brand and products fit into people’s lives and how they help them to achieve their needs and aspirations.
The brands that take the time to truly listen to what their customers want, and act upon it will ultimately be the most successful.
When people feel that they have been listened to, they feel valued. Valued customers are loyal and become good ambassadors. It’s a perfect relationship.