In our digital, social, uber-connected age, anyone looking to start a new business has a wealth of information available before they launch. Social networks and consumer review platforms can help potential businesses understand what exactly their customers are interested in – before they plan out the product line, design the logo, and set up shop.
This article from the New York Times offers several great examples of businesses who utilized the power of social media to learn about their targeted customers before they officially started their company.
Are you taking advantage of social media to learn about your customers’ preferences and buying habits?
Using Social Media to Test Your Idea Before You Try to Sell It
8/3/2012By MELINDA F. EMERSON
When starting a business, new entrepreneurs often spend time naming the business and developing a logo and printing business cards and perfecting the look and feel of their packaging before they know whether they have a viable product or service. There’s now a better way — social media has become the ultimate tool for market research. Stephanie Clifford wrote an article for The Times this week about how big corporations are replacing focus groups with social media, but it works for small businesses, too.
Thanks to social media — especially Twitter — small businesses now have the ability to determine what their customers want and what they are willing to pay.
READ FULL ARTICLE: USING SOCIAL MEDIA TO TEST YOUR IDEA BEFORE YOU TRY TO SELL IT