To understand the impact of social media in our day-to-day life, we must understand that it is all about interacting with the people who share life with us in our lonely planet. Their aspirations, preferences, likes and dislikes mould our life in many ways. Picking up this clue, businesses have now selected this paramount platform to develop their enterprise and in the process have also developed their products and services in a novel and useful way. However, it is a dynamic, ever-growing concept that changes continuously as public opinion also changes along with time.

Social Media Business Research

Social Media Research (SMR), especially in the context of trade and commerce, attempts to gauge the volume and strength of public opinion through social media conversation to know where they stand,  as also how to protect themselves from probable future threats. To be more precise, Social Media Research is primarily concerned about the effects of SWOT (Strength, Weakness, Opportunities and Threat) which is based on customer feedback on any product or service offered by a business through sundry networking tools.

Inviting Comments or ‘Likes’

The next step towards conducting the Social Media Research involves  posting the information gained in the process through social media Forums, inviting comments or ‘likes’ and then analyzing those to finally reach a decision. To put it briefly, it is a process which involves ‘social media listening’ to what customers have to say about a product or services. Needless to say, this feedback greatly helps businesses to determine the next course of action necessary for survival in the market.  Interestingly enough, Social Media Research is also often used to determine, as a part of political campaign, whether a candidate will be accepted by the voters to win a seat of power.

Social Media Research Tools

Social Media Research tools offer thoroughly innovative ways to conduct market research that can identify communication trends in human society. Consumers, manufacturers, traders and professionals are now using sites that include LinkedIn, Facebook (over one billion users) and Twitter in order to interact with each other. Even though most users take the opportunity to share ideas, some also lodge complaints through these social media sites. Nevertheless, market researchers can profit by following these trends by using social media research tools that include Rock bridge’s OpinionPond™ to develop a better insight into the whole affair.