Social networking just a formula that works for the media, circles of friends, and referral systems. Marketing departments can take heed in some new tools and options through an simple on the internet format. Traditional methods in market research often involve analytical and statistical reports that help to gauge customer preferences or track behavior. This can range from demographic analysis, customer interaction, real-world traffic flow, direct customer interaction. Direct market research takes the forms of market surveys, focus groups, interviews, or feedback through a mailing or some form of online interaction.
Communispace is an up-and-coming hotbed of resources for both large and small businesses. Launched in 2004, Communispace offers a distinctive on the web product: they build communities to create ‘spaces’ for customers to interact. These are private communities that can be and studied for critical information that is often observed in focus groups. Essentially, it is similar to a focus group setup; it’s also one that is incredibly efficient, and designed so that results can be extracted in a very short period of time. A business can create multiple projects with customized options, and Communispace works as the portal to identify, target, and solicit input directly from their customer samples. Communispace helps businesses invite the sample set to the virtual community, help do and create it, and maintain it over a period of time.
Today’s innovative businesses turn to market research because it can significantly boost market leverage and help with decision making. Results from a formal study can provide insight, statistical data, and a measurement tool to track changes or encourage new behaviors. Communispace offers a variety of these tools that help a company gain competitive insight, test products through a website format, and even rate their ideas during development cycles. Businesses can find great value in a Communispace community because they are able to interact and direct their sample set exactly for what they are looking for.
During product development and project coordination stages, it is even more important to ensure that the goals of the initiative are clearly defined so that all processes are bringing forward the right information. This is why market research companies spend significant amounts of time and dollars to fine-tune their process and provide the most useful and relevant information. When a easy survey isn’t enough, there are now other ways to understand a customer’s attitudes, likes, dislikes, and perhaps some unmet needs.
Communispace is taking care of the market research needs of a company with this innovative on the web format; data and input can easily be submitted for reviewing and tracking, and results turned around faster than traditional methods. Communispace saves time and for research costs, since there is much less ‘legwork’ required to find the target sample, establish a project, and turn it around for results. Market research conducted through a formalized social networking business model such as Communispace can provide businesses with relevant, accurate, and highly valuable information in the long run.
