As more and more consumers converse through digital media, companies are struggling to figure out how to "listen in" on the conversations. Traditional marketing research methods can't sift through the seemingly infinite number of words flying around cyberspace at any given moment. But one company is helping marketers get a handle on "word-of-Web" communication. Radian6 specializes in monitoring social media, tracking Web sites ranging from Facebook to Flickr. Radian6's unique software opens a door to an entirely different kind of research. Instead of using questionnaires, interviews, or focus groups, Radian6 scans online social media for whatever combination of keywords a marketer might specify. This gives companies valuable insights into what consumers are saying about their products and brands.
After viewing the video featuring Radian6, answer the following questions.
- What benefits does Radian6 provide to marketers over more traditional market research methods? What shortcomings?
- Classify Radian6's software with respect to research approaches, contact methods, sampling plan, and research instruments.
- How is Radian6 helping companies develop stronger relationships with customers?