Product manufactures must understand consumers “in actionable ways” to gain competitive advantage.
This article states that businesses who employ social listening can get ahead of the curve by using social platforms to drive new product development, marketing, operations and more. The author opines that machine learning facilitates an improved analysis of natural language content and monitoring of videos and images.
This enables brands to detect customer feelings across a broader range and identify specific trigger points. Further, social media provides cues about changing consumer trends, which brands can pick on to assess if they are likely to sustain and support their product goals.
Bringing product manufacturers closer to consumer can enable social listening to catalyse the development of customised products for specific groups. It can also determine the influence of trends on other markets.
[6 minute read]