3PMjournal_2010s2

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3pm Journal of Digital Research & Publishing Moore, C. (2005) ëBlog Tools Tackle Content Chores.í InfoWorld. 29 August 2005. ProQuest. New York University. Websites: The Sartorialist Press Articles, The Sartorialist Blog, accessed September 12, 2010 www.thesartorialist. com/pdf/amphoto.pdf Facehunter Facehunter Blog, accessed September 12, 2010 http://facehunter.blogspot.com About Selby The Selby is in your place Website, accessed September 12, 2010 http://www.theselby.com/ bio.html Clay Shirky: How cellphones, Twitter, Facebook can make historyî YouTube, accessed September 12, 2010 http://www.youtube.com/watch?v=c_iN_QubRs0&feature=player_embedded#! 37
3pm Journal of Digital Research & Publishing The Power of Going Social By Mendel A. Bernardino UNIVERSITY OF SYDNEY Abstract Businesses can now use social media platforms such as community forums, online community sites, blogs and social networking sites as ‘market research sources’ in order to further understand the preferences of market they are trying to serve. Through social media tools, consumers can participate in providing information and feedback to businesses and practically tell them what their market needs are. Market research through social media tools can provide benefits for the company such as cost efficiency, fast and timely consumer feedback, updated and relevant information straight from the consumers. The paper will touch on companies who have done so effectively and what the key factors are in ensuring a successful market research campaign through social media tools. (ex. how Kraft used social media tools as additional ‘research sources’ to name the new “Cheesybite” and how Dell banked on IdeaStorm to get new product ideas from consumers). Privacy and volume versus control issues must also be taken into account when using social media applications. Evidence will be gathered from case studies, online journals and articles Keywords Social media • crowd sourcing • Kraft cheesybite • dell Ideastorm • traditional research • online research • participatory culture • broadcast media • social networking sites • blogs • forums Introduction Businesses have spent millions of dollars for market research in order to find out what might work for the market they are trying to serve. Focus group discussions, online and phone surveys, phone and face to face interviews and the like can cost one’s company a fortune not to mention the enormous amount of time it takes to plan, implement and get the results from these market research activities. Moreover, it becomes increasingly hard to conduct market research as consumers become more reluctant in tolerating doorstep research interviews or be interrupted by a telephone interview which take up most of their time and end up without them hearing any feedback from them (Cooper 2009). Therefore, it only makes sense to have a conversation with customers in a way that taps into a medium that capitalizes on their willingness to participate and interact. 38
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