Social media is playing a key role in marketing activities. Now facebook has more than 1 billion members. Other social media sites like twitter, tumblr, youtube, linkedin & others are also growing. This has made the companies to use social data for market research activities. Data can also be obtained from chat, ratings, polls, surveys, voting, review sites & others. People know about the brands through social media & also share their purchasing & other experiences. Consumer ratings are used by people before deciding about the product. Such data helps market research lower costs, speed up the process & also helps better decision making.
Many analytic service providers have started including social media data in reports & this can also be used for research purposes. Top brands are mentioned by users regularly in conversation & this helps them uncover many insights. Social media listening is playing an important role in research. With the use of smartphones, more people are using social media & this helps tapping into data related to localization.
Social media is the biggest media in now days. But how much is correct or not i don’t know. Because now paid news is also popular. so people now very smart to how to react on which news or not to react.. But social media is now our part of life.