The development of the Internet has opened a new world of possibilities for the area of ​​market research, the traditional techniques used in market studies are optimized thanks to social networks.

Social media opens a range of new possibilities that solve traditional problems while developing new solutions.

We are at a time when market research is growing exponentially, accumulating a process of evolutionary maturation, simply unstoppable.

First; This is the first time that brands can interact with users, identifying a large number of new opportunities with which marketing experts can establish a much more linked relationship that allows them to segment and micro segment until they clearly identify what they are looking for. The followers of the brand, active listening and interaction with the community, are of great help for brands in identifying the most effective marketing strategy.
Market research is consolidated as the fundamental pillar of business trends where the philosopher’s stone is the client that acts as the nerve center of the actions of brands.

But … let’s analyze the advantages and disadvantages of market research, from the perspective of online method.

Advantage

• The costs are clearly lower, so the ROI of the investments in this item is much more efficient.
• Obtaining direct answers caused by the absence of an interlocutor, leads users to respond more freely.
• Generally, traditional market studies obtained responses from users in which an influence of the interviewer was clearly identified, however in online research, this influence is less and the respondent responds freely and at the pace that is most comfortable.
• Obtaining results is much more efficient since in just over two days you get 90% of the relevant information for the brand.
• The quality of the answers also increases, users feel comfortable and give more complete and elaborate answers.
• Online research allows the study of trends in international markets, logistics, data collection and coordination of actions is much more efficient in online studies.
• Constant innovation allows multimedia elements to be more attractive to users, images and videos are incorporated into questionnaires encouraging users to respond comfortably.

Let’s see the drawbacks

• The universe under study leaves out segments of the population that do not have access to innovation and technologies. Even, at a global level, access is not yet total.
• The quality of the sample is based on trust because there is no way to ensure that the person who is responding is who they say they are.
• There are still technical limitations to be solved, focused specifically on the speed of loading the questionnaire, one of the main reasons for abandonment by users.

To exalt the strengths and opportunities that market research offers by minimizing the threats of weaknesses, great challenges must be faced in the short term:

• Standardize market studies conducted online
• Improvement in information collection techniques
• Provide the Internet with the speed and interactivity that make this an optimal channel of communication
• Continue to encourage users and brands to use the Internet in all habits, the more widespread it is, the more analytical the marketing departments will have, and the strategies associated with brands will be more effective.
• Currently there are several types of online surveys aimed at conducting market research, both are essential to minimize the impact of the weaknesses and challenges that research must face on its way to efficiency.
• Market studies by email
• Download the form as an executable file
• Studies through a WEB portal, can be created with a standard HTML editor although at the present time it is very frequent to find independent pages that contain the forms
• Obtaining data in social networks, although the measurement and analysis of the information obtained is still complex, we must not forget that the main advantage of social networks in the business framework lies in the immediacy of obtaining information through interaction of the brands with the needs, tastes and interests of the users.

In conclusion, all options and possibilities in force at the present time in relation to market research, are being favored by social networks.

The possibility of identifying people who respond to specific criteria and the development of free applications for this purpose, begin to be a trend increasingly used by marketing departments thanks to which, any brand however small, can make a Market study in a simple and efficient way that helps you determine the marketing strategy to follow on the path towards achieving your business objectives.