Social Media Market Research with Social Media Manager Sabine Schwirtz

Summary

In this insightful conversation, Sabine Schwartz, with experience in both the beauty and cannabis industries, delves into the world of social media market research. She highlights the unique challenges faced when working in industries where traditional advertising is restricted. Sabine explains the power of social listening platforms, which provide real-time, large-scale insights into consumer behavior and competitor activity. She discusses the value of both qualitative and quantitative data in shaping campaigns and the ethical considerations of using consumer data. This conversation is a valuable guide to understanding the evolving landscape of digital market research.

Takeaways

• 😀 Social media marketing in industries like cannabis and beauty (e.g., Lush) involves a unique challenge as paid ads are often not allowed, making organic reach crucial for success.
• 😀 Social media market research offers a more dynamic and real-time perspective compared to traditional surveys and focus groups, as data is continuously collected from users.
• 😀 Social media platforms can gather a wealth of information, including user sentiment and behaviors, which can be leveraged for deep insights into audience preferences.
• 😀 Social media market research often involves collecting data without directly asking users, tracking their actions, likes, and interactions for more authentic insights.
• 😀 In the cannabis industry, geolocation data is sometimes used to determine a consumer's eligibility based on their visits to dispensaries, similar to cigarette advertising restrictions.
• 😀 Social listening platforms, which monitor online conversations, are increasingly used by brands to analyze trends, consumer sentiment, and competitor behavior, providing valuable strategic insights.
• 😀 Social listening platforms are expensive, with pricing ranging from $20,000 to $300,000+ per year, depending on the depth and scope of data collected from platforms like Facebook, Twitter, and YouTube.
• 😀 Quantitative data in social media research focuses on numbers (e.g., engagement rates), while qualitative data delves into emotions, preferences, and behavior (e.g., sentiment analysis). Both are used together to refine marketing strategies.
• 😀 By analyzing qualitative data, brands can identify preferences like color choices and design trends, which can even influence product and campaign development, as seen with Lush's analysis of yellow in visuals.
• 😀 Challenges in social media market research include unequal internet access, as not all demographics or regions engage equally with social media, which can skew data accuracy for certain groups.

Q & A

What is the main difference between traditional market research and social media market research?

The key difference is that traditional market research like surveys or focus groups relies on respondents to actively provide information, whereas social media market research collects data passively from users' interactions, preferences, and behaviors online without explicitly asking them.

Why does Sabine believe social media market research is more reliable than traditional surveys or focus groups?

Sabine finds social media market research more reliable because the data comes from real-time user interactions across millions of individuals, which makes it more authentic and trustworthy compared to the often limited and self-reported data from traditional surveys.

Can cannabis companies advertise on social media?

Cannabis companies can advertise in very specific markets, but social media platforms generally do not allow cannabis-related ads, leading companies to rely on organic strategies for engagement instead.

What is social media listening and how does it work?

Social media listening involves using platforms that analyze data from social media networks, gathering information such as sentiment, keywords, and competitor activity. These platforms work by tapping into large data streams from platforms like Twitter to gather and analyze user behavior.

How does social media market research help in product development?

By using social media insights, brands can identify trends, consumer preferences, and areas for improvement before launching a product. An example is Glossier, which based its first product line on data gathered from social media interactions and consumer needs.

What are some of the challenges when it comes to social media market research?

Challenges include unequal access to the internet and social media, which can skew the data. Additionally, different age groups and demographics may use platforms differently, leading to incomplete or biased insights.

What is the cost range of using social listening platforms?

Social listening platforms can be very expensive, ranging from $20,000 to $400,000 per year, depending on the data collected, the level of analysis provided, and the number of platforms integrated into the service.

What type of data can social listening platforms collect?

These platforms collect a wide range of data, including user sentiment, keywords, engagement metrics, and competitive analysis. Some platforms even analyze YouTube videos for spoken content, providing deeper insights into consumer behavior.

How can qualitative and quantitative measurements be used in social media market research?

Qualitative data focuses on understanding user behavior and preferences (e.g., moods, tone), while quantitative data provides hard numbers such as reach or engagement levels. Both are important for creating effective marketing strategies, with qualitative insights guiding campaign creation and quantitative metrics helping with performance reporting.

What are some insights about user behavior on social media based on Sabine’s experience with Lush?

Sabine discovered that specific colors, like yellow, led to lower engagement rates for Lush’s posts. This finding prompted the team to adjust their art direction and photography to improve product visibility and engagement.