Social media data is being recognised by marketers as a goldmine for consumer insights and is slowly becoming an intrinsic part of consumer research. It holds a wealth of information about what is being said about a brand; what consumers find good or bad about it and what functionalities and emotional aspects are catching the consumer’s attention (or not!), among others. All the conversations that are happening are taking place organically, without any researcher intervention, and are a goldmine for marketers.
Not surprisingly, marketers are keen to tap into this to aid their understanding of social media savvy consumers and what makes them tick. In addition, social media analysts and researchers are being tasked with unravelling these insights. How can marketers derive value from social media conversations? And what are the challenges faced by market researchers?
Focusing on the Indian market, this paper aims to provide a complete overview on how we optimise social media data for marketers. In 2021, it is estimated that 24% of the Indian population will be accessing social networks, up from 15% in 2017. Statistics show that the content Indian users interact with on social media platforms is inspirational, funny/entertaining, personal status updates etc. These conversations are termed User Generated Content (UGC) and offer marketers incisive, first-hand, consumer insights.
This paper explores:
- The current social media landscape in India
- How it compares to evolved markets
- The challenges of social data
- The different types of social content and tools
- The future of social media research in India
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