Though social media has allowed us a lot of insight into market trends and preference at little expense, classical research methodologies are still something to be looked upon highly. They sometimes say “You will never reach niche groups through proper research methodologies like focus groups, surveys and case studies.”
They then say with authority “When dealing with the pharma industry, this is especially true.”
Those “they” people might be wrong.
The alphabet of market research contains social media; social media does not replace it.
When doing B2B or B2C marketing research, social media should be a part of your published content vehicle – it is important to publish text, video and keep above the tide of the feed. Not only will research help you to develop your target, it will give you an edge on the competition and help you in strategizing your campaigns.
Classic marketing research needs to adapt, but it is still the best litmus test for focused, concise direction. Market research gives a company a strong backbone, and further leverages investment potential.