SOCIAL MEDIA WEEK Copenhagen – Day 1 – Part 2 – Market research

Posted by | February 19, 2013 | Events | No Comments

The second event of the day I got to attend was more advanced than the morning introduction to Facebook tools and featured an unlikely case for a Social Media success. As the presentation was peppered with many business school terms and analytical charts I will not go into much detail but just point out some great ideas that cam out of it.

Digital IQ – Listen Before You Speak by Vertic & Velux Group

Digital advertising minds at Vertic have been working on a strategy they call “Digital IQ” – a “supply and demand for a company in digital space”. Basically, it’s a market research. They encourage businesses to gather data from what is said about their brand online, what is said about the competitors, what customers are searching for and what they comment on.

Taking in and analyzing this data, they have come up with a social media strategy that responds to customer needs rather than simply pushes out a pre-written marketing message or whatever business thinks customer is interested in – and that’s something that was mentioned at the previous talk I got to attend. Social Media is not about dictation but rather conversation.

Do you know what your customers (and potential customers) are talking about? If you’re a small business doing the social media-thing on your own, do you also do your research? Do you use keywords, Twitter filters and do you listen to customers online? If you’re a shop selling multiple brands, do you reasearch what customers are talking about in relation to these brands?

An unlikely Social Media success example? Vertic have been working with Velux – yes, the window company – applying their Digital IQ framework. The result? It might have not yet reached the peak of its success but it looks like Velux are leading way ahead of their competition – simply because the competitors don’t seem to be applying any strategy at all. And Velux now know what their customers are looking for and what they are conserned about without surveys, case studies and other elaborate research approaches.

Bottomline? Social Media can work in favor of any type of business when used properly and with an applied research. Not convinced yet? Watch another “unlikely” Social Media success story of Maersk – yes, the shipping and energy company: http://new.livestream.com/smwcopenhagen/events/1885534.

Missing out on Social Media Week? You can catch up with a lot of talks online (mind, not all of them are in English): http://new.livestream.com/pages/smw

Have questions? Comments? Let me know

Alex @ micropro.ie