How To Get Twitter’s Valuable Market Insight For Free

 

market insightAs you know (and you probably do yourself), people will often seek information on social media platforms like Twitter. In the previous post Find Customers & What Makes Them Tick, I referenced a few studies that show that most buyers will inform themselves online first before making any purchases.

 

Oftentimes, if they don’t find enough information, they’ll pose a topic-related question in places like Twitter and wait for experts (like you) in that topic to answer back.

 

Market Insight On Twitter

 

In this Shift Digital Media post, we see that inboxq’s Twitter stats reveal this:

  • 3,000,000 questions get asked each month on Twitter
  • 20% – 30% of questions don’t get answered! WOW! 
  • People with more followers are more likely to ask questions
  • Twitter is a more reliable source for answers for people with more followers
  • Roughly 66% of questions asked on Twitter have some commercial intent
  • When a business responds to a Twitter question, that person is likely to follow the company back and more likely to make a purchase

Do you wonder if your clients, and potential clients, even want to hear from a business when they ask Twitter questions? Here’s the good news. Most people that ask questions via Twitter are open to receiving answers via commercial sources.  And you know what else? 80% of those polled said that they would trust answers from businesses as much, or more, as answers from their followers.

 

Do you see the potential? Questions asked on Twitter provide a wonderful and free opportunity for online entrepreneurs:

  • to engage this individual and offer answers and helpful information;
  • to start building a relationship and fan base;
  • to gain exposure to the inquirer’s followers;
  • to open the door to traffic to your site via a backlink;
  • to build a positive quality online reputation;
  • to mine for market information that you can use to customize your marketing and offer.

 

Plus, this Media Bistro study summary brings-up another important point:

Citing a recent American Express Global Consumer Service Barometer, STELLAService CEO Jordy Leiser explains that Twitter customer care is essential to good business, as consumers who use social media for customer service are willing to spend 21 percent more with companies that impress them.

“It’s becoming clear that social media savvy consumers are an incredibly important segment of any company’s customer base, both because they have higher service expectations and they have wide broadcast networks for sharing their experiences with others. By failing to take Twitter seriously as a customer service channel, companies may be inadvertently ignoring some of their best customers at their own peril.”

 

I would also add, based on the stats mentioned earlier and the quick and free market research tool I describe below, that you don’t have to wait till you have customers to start religiously answering questions on Twitter. Start before they’re even a customer and you’ll not only increase the likelihood of gaining a follower and a customer, but a loyal fan.

 

But how do you find topic-related questions on Twitter?

market research methodsI researched this and came across Replyz, a free online tool that taps into the Twitter stream real-time and allows you to find Twitter questions and join in the conversation, real-time.

 

You can search with or without registering. You can also register via your Twitter account, which in turn allows you to use your Twitter image (great for branding and consistency) and has the capability of displaying your questions and answers in your Twitter stream (great for showing activity, expertise and  sharing the information with your followers).

 

Here’s a snapshot of a search I conducted on Replyz:

market research tools

 

In this screen capture,  you can see at the top that I entered the phrase, “how to use Google+”. I received tons of results. Some were a little off topic, but lots were dead on.

 

I really like that the results include the dates the questions were posted. This feature gives you an idea how relevant the topic is now.

 

I think this is a valuable marketing tool that you can use as part of your online marketing research as well as a way to engage customers. Dedicate a half hour a week answering questions and watch the results. They should speak for themselves.

And did I mention it’s free?!?

 

How about you? Do you have a cool free tool or method you use to find out more about your market?

louise

 If you’re still struggling to find where your market hangs out, read Find Customers & What Makes Them Tick.

 

 

Love what you do!

Do what you love!

 

 

 

Get IT every week FREE
Starting Your Own Business newsletter.

 

6 Responses to How To Get Twitter’s Valuable Market Insight For Free

  1. Thank you for sharing this article. I did head over to replyz and opened an account. I was having so much fun, I spent most of the afternoon going through questions and responding.

    I do have a question if possible to get an answer. Do you have guidelines as to how to respond on replyz, such as leaving a link to a product, or not, or a good rule of thumb to get them to friend you so they see your offers?

  2. Hi Janis,
    Glad to hear you enjoyed this great little tool.

    I’ve emailed Replyz since there were no terms or conditions listed on the site. And they pretty much answered what I thought: you can include links as long as they’re helpful and relevant to the question. Replyz seems moderated enough that they would probably remove spammy links.

    My suggestion for building relationships that lead to followers, be relevant and be helpful in your niche. Forget the offer links in these first-time encounters. Your answers will be displayed in the inquirer’s Tweets. That’s valuable exposure! And when people see how consistently helpful and knowledgeable you are, they’ll follow you to your stream and on from there. Don’t do something you wouldn’t do in person say at some social gathering with people you just met.

    Thanks for the comment
    Louise

  3. Great article – hopefully it will introduce more people to Replyz. I’ve been on there for about 18 months and find it a fun way to help people out and get a few questions answered. It’s also a good way to get a few more followers on Twitter, though conversely, I also find that some don’t stay followers for very long as if you answer a lot of questions they may not like all the traffic from you in their stream.

  4. Hey Ben,
    I guess you mean the extra traffic caused from answering questions. You can change that setting so that your Replyz conversations don’t appear in your stream. I can see many choosing that option to show expertise and interaction. Depends on your social strategy. Well hopefully, they’ve made their way to your site before unfollowing.

    Thanks for stopping by!

  5. […] some easy research.  You can visit niche-related forums, your competition’s websites, and even use social media to discover what people are talking and complaining about on this […]

  6. […] On free way to find out what your market is asking on Twitter. […]