8. Informs customer and competitor research

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For marketers, social media data i greece b2b leads s worth more than gold, as it reveals invaluable information about customers and competitors alike. According to The 2023 State of Social Media Report, 88% of business leaders expect to use data more in the next two years. Another 93% agree social insights will be a primary source of business intelligence.

When shared effectively, insights from social data can enrich an entire organization’s understanding of their customers and competition. For example, as the demographic information from Sprout’s Listening solution illustrates, AI analysis makes quick work of determining the age and gender breakdown of your audience and which topics, issues and trends matter most to them.

Insights from Sprout’s Listening tool showcasing audience demographics like age and gender.
9. Refines product development
People are talking about your products on social media right now. They’re sharing what they love about them, and the exact ways they want you to improve them. Building the right social listening queries can surface the feedback and prioritize product development needs.

An Instagram Reel from Sprout Social about the power of using sentiment analysis

Building long-term partnerships with influencers can also enrich R&D. According to The Influencer Marketing Report, 62% of all consumers who make daily or weekly purchases based on influencer recommendations are likely to share product feedback directly with influencers. The influencers you partner with have an even more direct view into your customers’ sentiment and feedback—insights that can help your brand pivot in real-time and grow long-term.