How to Use Facebook for Market Research

by Dec 27, 2016Social Media Marketing0 comments

With so many people on Facebook, it can be a great place to gather information for your business.

Just through Facebook, you can find out what your target audience wants, what types of products or services they’re interested in and even how many consumers are out there. Here are 5 ways to use Facebook pages and groups to do market research.

Check out other businesses in your industry. Look at their business pages. What types of products or services are they offering? What are their customers saying? What questions are their customers asking? How are those businesses interacting with their followers? Look at any reviews, both good and bad, and see what customers loved and also what they wished those businesses offered.

website investment importance
website investment importance

Ask questions on your Facebook page. One of the best ways to find out what your customers want and to get direct feedback is to simply ask. For example, post on your Facebook page, “What about [your product or service] do you wish was different?” or “What would you like to see offered?” You can also get direct feedback by just asking. “We’re looking for feedback on [this product]. What do you think?” Be encouraging and make it obvious you want your followers to chime in.

Post a poll. Instead of asking for feedback, you could create a poll with options for your followers to participate in. Keep in mind that the answers your followers give will be visible to others, so make sure your options aren’t personal in any way.

Use Facebook ads to find audience size. You don’t necessarily have to publish an ad, but starting the ad process can really help you find out how many people are in your target audience. Start getting up an ad, getting specific on your target audience’s gender, age, location, interest, etc. Facebook will give you an estimated reach, will let you know if your target audience is out there, and how many people there are. Just make sure you abandon that ad before you hit publish … unless you want to publish it.

Look at Facebook groups. There are hundreds of Facebook groups, both open to the public and closed. Start looking for groups where your target customer would hang out, groups centered on topics they’d enjoy. Look at the conversations people are having in these groups. What are they most excited about in this industry? What are they complaining about? Use this data to help create your content to attract the right consumers or even to create your next product or service.

There are so many people on Facebook, and if you know how to research and listen, you can learn a lot about your target market. Dig into the pages of other businesses in your industry, post questions for your followers and find out what how many consumers there are and what they want, all using Facebook.

 

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