Everyone thinks that market research is expensive. But the best market research is getting raw voice of the customer. This is what makes Twitter market research one of the most overlooked market research tools and resources in marketing.
Let’s take care of that right now. In this article, you’ll see how you can make the most of Twitter for your market research needs, from understanding how to use it as a newsfeed to leveraging its native analytics features and how to use third-party tools.
How to Look at Twitter
I always like to say that Twitter is like a bar; you walk into a space where there are all kinds of conversations. You can walk up to the bar, look up at the TV and see sports or news. You can listen to conversations, you can join conversations. And, just like a bar, the depth of conversation you’re going to see there is interesting, but tends to be superficial.
All of these attributes make it a terrific way to gather sentiment and initial insights that you can use in your Twitter market research.
What Kind of Data Can You Get From Twitter Market Research
Next, we’ll explore how to utilize Twitter’s native analytics features such as analyzing followers and engagement rates, conducting polls for feedback collection, and tracking competitor performance.
Moving forward in our quest towards mastering Twitter market research techniques, we will discuss measuring sentiment using Brand24 – monitoring mentions of your brand or product name while analyzing tone of conversations around them. We will also identify key influencers in your niche who can potentially drive more attention towards your offerings.
What are the Best Twitter Analytics Tools
Finally, we’ll introduce some third-party tools which offer deeper social media insights along with audience analysis capabilities.
Table of Contents:
- Understand Twitter as a Newsfeed
- Utilize Twitter’s Native Analytics
- Measure Sentiment with Brand24
- Use Advanced Tools for Market Research on Twitter
- Leverage Third-Party Integrations to Automate Tasks
- FAQs in Relation to Twitter Market Research
Understand Twitter as a Newsfeed
Twitter is a powerful newsfeed that can be used to find and engage with ideal customers.
One of the best, easiest and cleanest ways to curate your Twitter market research feed (translated as – get rid of the garbage) is to use hashtags.
Hashtags are an integral part of Twitter, and they help you discover content related to your industry and interest. By incorporating hashtags into your tweets, you can boost the visibility of your brand or product name and connect with potential customers who are interested in what you have to offer.
To get started, try searching for relevant hashtags related to your industry or niche.
Discovering the dialogues that revolve around your enterprise can be accomplished by looking up applicable hashtags associated with your sector or area of focus.
Hashtags also provide valuable qualitative data about customer sentiment towards certain products or services. For example, if you search for #restaurantreviews on Twitter, you’ll see a stream of people sharing their experiences at different restaurants around the world. One can exploit customer appraisals and feedback on certain items or administrations offered by rivals in one’s sector through studying user reviews.
You can also use Twitter’s native analytics tools to measure engagement rates and track followers over time. The platform gives thorough information on the amount of people engaging with each tweet, which assists marketers in comprehending what kind of content their audience likes best. Additionally, polls are a great way to gather real-time feedback from customers about new products or services they would like to see from your company in the future.
By understanding Twitter as a newsfeed, businesses can gain valuable insights into their target market and create effective campaigns to reach them. Leveraging Twitter’s native analytics is the next step in effectively marketing your business on this platform.
Utilize Twitter’s Native Analytics
Twitter’s native analytics are an invaluable tool for small businesses. You can assess the effectiveness of your campaigns and recognize what captures the attention of your viewers by making use of Twitter’s native analytics. By analyzing followers and engagement rates, leveraging polls to gather feedback, and tracking competitors’ performance, you’ll be able to better understand the impact of your marketing efforts on Twitter.
Analyzing Followers and Engagement Rates:
Getting to know and understand your Twitter followers and how they engage with you is critical to your Twitter
Twitter analytics will give you all the basics about your account. Like most platforms, it should be your first source for the most reliable data.
While there are a few paid tools that will do this, I honestly believe that you need to engage with your Twitter users manually. It’s just better and will give you better insights about which Twitter marketing strategies will work best for you.
What Twitter Data to pay attention to:
Twitter analytics will give you the numbers, but you have to go into your profile to get the details
Head to your Twitter profile and then click on “Followers” so that you can see who your new followers are.
This tells you who you are attracting. If they are relevant, follow them back and you can also add them to a Twitter list.
The best and only way to see who engaged with your tweets is directly from the actual tweet.
By examining the data of retweets and likes, you can discern changes in user preferences over time to ensure your campaigns remain up-to-date. This will help you identify trends in user behavior so that you can adjust accordingly.
Leveraging Polls to Gather Feedback:
Twitter’s poll feature is a great way for small businesses to get quick feedback from their customers without having to spend money on surveys or focus groups. It allows users to vote on various topics related directly or indirectly related to their brand, allowing them gain valuable insights into customer preferences and interests quickly and easily.
For example, here’s a Twitter poll asking about a small businesses biggest challenge working online.
The Twitter poll quantitative data is great, but one of the best things is the ability for people to also make comments, and this gives you that valuable voice of the customer about your question.
Another key aspect of using Twitter’s native analytics is monitoring the engagement rate of your Tweets
What is Engagement Rate on Twitter?
Twitter engagement rate is a metric that measures the level of interaction between a Twitter account and its audience. It is calculated by dividing the total number of engagements (such as retweets, replies, and likes) by the total number of impressions (the number of times a tweet was viewed).
The engagement rate shows how effectively a Twitter account is engaging its audience, and is a key performance indicator for social media marketing. A higher engagement rate indicates that the account’s content is resonating with its audience, and that the account is effectively communicating with its followers.
Engagement rate is also affected by the size of the account’s audience. A larger account may have a lower engagement rate simply because it has a larger pool of followers, which can dilute the engagement rate. However, it is generally considered that a higher engagement rate is more important than a large number of followers, as it indicates a more engaged and loyal audience.
[Likes + retweets + replies] / [total number of followers]
What’s a Good Twitter Engagement Rate?
Don’t be disappointed if you see low engagement rates — believe it or not a decent engagement rate is between 1% to 5% — but the more followers you have, the harder it is to achieve.
Use Advanced Tools for Market Research on Twitter
For conducting market research on Twitter, there are advanced tools available to help maximize results.
Twitonomy is another tool for detailed analytics that allows you to dive deep into any user’s profile or tweet history. You can also use Twitonomy to analyze trends across multiple accounts or topics related to your brand or product name.
Using advanced tools for market research on Twitter can help small businesses gain valuable insights into their target audience and optimize their campaigns. Leveraging third-party integrations to automate tasks is another way that businesses can maximize efficiency while still achieving great results.
Leverage Third-Party Integrations to Automate Tasks
Brand24: Measure Sentiment, Monitor Mentions, Find Influencers
Sentiment analysis is very important for larger brands to see how people are “feeling” about their brand.
Sentiment analysis is a type of natural language processing (NLP) technique that is able to measure and classify emotional tone or sentiment of a piece of text, such as a social media post, customer review, or news article.
The process of sentiment analysis involves using machine learning algorithms to analyze text and classify it into different categories of sentiment, such as positive, negative, or neutral. The algorithms may also identify more nuanced emotions such as happiness, anger, or sadness.
Overall, sentiment analysis provides a way to automatically analyze large volumes of text data and extract insights that can inform decision-making and improve business outcomes.
Brand24 is an effective tool for measuring sentiment when it comes to your brand or product. And here’s something even better — you can also measure sentiment analysis for a topic or a competitor and that’s why Brand24 is your best choice for really understanding the voice of your customer.
I have a “listening project” open for the phrase “small business” and when I clicked on Sentiment and filtered for “negative”, I could see the tweets that showed up with a perceived “negative” tone.
This is invaluable for voice of the customer research. If you’re competing with a large brand, you can see all the negative comments for that brand. You can engage with those people and help them by answering questions.
Brand24 does a wonderful job of monitoring mentions of your brand or product name. This will provide you with insight into what is being discussed concerning your brand or product on the web, allowing for a timely response if necessary. You can trace words associated with your company and view where they are mentioned on outlets such as Twitter, Facebook, blogs, discussion boards, news sources and more. You’ll also receive notifications whenever someone talks about your brand or product so that you can take action right away if needed.
You can track keywords with BuzzSumo, and it’s good, but I’ve found it somewhat incomplete. BuzzSumo is much better at alerts, which Brand24 is better with the statistics.
You’re going to need some extra tools to pull in twitter data such as influencers. My two favorite tools are Brand24 and BuzzSumo.
This is one of my favorite features with Brand24. You can see all the Twitter accounts who have interacted with your brand or keywords. You can engage with them straight from the platform.
While this tells you who has been engaging with your content or a specific topic, it doesn’t really help you FIND influencers.
BuzzSumo, on the other hand, is a terrific “search” and analytics tool. You can use BuzzSumo to find influencers on any specific topic area, connect with them and build relationships.
You can see relevant data about their websites, followers and engagement rate.
Third-party integrations can be a beneficial asset for small businesses in need of automating recurrent tasks and optimizing workflows.
FAQs in Relation to Twitter Market Research
How to do market research on Twitter?
Start by devising a selection of applicable words that correspond to your business and enter them into Twitter’s search bar. Then use the search bar in Twitter to find conversations related to those topics and hashtags. Analyze what people are saying about the topic, how they feel about it, and which influencers have an opinion on it. You can also look at trends in terms of who is talking about your industry or product/service most often. Finally, take note of any changes over time in terms of sentiment around certain topics so you can adjust your strategy accordingly.
How effective is Twitter for marketing?
Small businesses can leverage Twitter to access a broad customer base and interact with them in the moment. Small businesses can take advantage of Twitter to swiftly reach a wide crowd, and interact with their clients in the present moment. With its wide range of content-sharing options, Twitter is one of the most effective social media platforms for businesses to reach and engage their target audiences. Companies have seen success when they use Twitter strategically by creating interesting content that appeals to their target audience and engaging regularly with followers. When used correctly, Twitter can be a powerful marketing tool for small businesses.
What is a research topic about Twitter?
Exploring the efficacy of Twitter as a promotional resource for small enterprises is an essential matter to contemplate. Examining how to effectively use Twitter to reach target audiences, optimize content and engage with customers can help small business owners maximize their return on investment. Additionally, exploring strategies such as hashtag usage and leveraging influencers can provide insight into effective ways to increase brand awareness through social media channels like Twitter.
What is the target market for Twitter?
Twitter is a social media platform that targets all types of users. It has become an important tool for businesses to reach potential customers, and its user base includes individuals from various age groups, genders, interests, and locations. Twitter gives advertisers the capacity to hone in on their intended audience through hashtags and search terms, allowing them to craft campaigns tailored for particular demographics or interests. Businesses are able to create tailored campaigns in order to engage with their desired audience more effectively.
In conclusion, Twitter is an invaluable tool for market research. By understanding how to use hashtags and leveraging the native analytics as well as third-party integrations, small business owners can gain valuable insights into their target audience quickly and efficiently. With a few simple steps, entrepreneurs can take advantage of twitter market research to better understand their customers’ needs and wants so they can create more effective marketing campaigns that will drive growth for their businesses.