Consumer Opinion on Social Media
FGI Research has concluded that 51% of Americans believe that Social Media sites, like Twitter, affect the news. National news networks like CNN or FOX news use Twitter regularly to report how the country feels about different topics. Social media is an interactive forum that makes it quick and easy to generate immediate feedback. It is a quick, convenient barometer for the media to interpret the sentiment of a large sample of Americans. What’s more, it is another outlet for media to publicize their content. 29% of all respondents said that they use social media sites, like Twitter, to follow the news; and of those, 46% said that they find the same amount or more news on social media sites than they did last year.

The News Also Impacts Social Media
It’s not a stretch to say that the increased attention in the national news has boosted Twitter’s membership. According to our study, Twitter is growing: 17% of respondents, who are not currently users, say that they plan on creating an account within the next 6 months. This means that, according to our data, Twitter is growing faster than MySpace, YouTube, FriendFeed, LinkedIn, and Flicker. In fact, microblogging is becoming a breakout form for reaching large audiences in an inexpensive way to make updates in real time.

Actionable Insights
What does the relationship between social media and news mean for businesses? As we said, social media offers a quick, free and easy way to reach out to consumers for marketing. It also offers a barometer of consumer opinion. Using advanced research methods and mining tools, companies can trawl social media for insight into consumer opinions –opinions they might not readily share in a survey or even an online community. It is vital to not only talk to consumers through social media but to listen to what they are saying in order to create more effective business and marketing strategies. Social media won’t just have an impact on the news. It will impact the entire market.

Next Steps You Can Take

Survey Methods
Date of Study: 6/29/2009
Total Responders: 315
Sample Source:FGI SmartPanel

How Marketing Impacts Brand Awareness
Our independent study asked consumers about their awareness of smartphone brands and whether they had purchased, or intended to purchase, such a phone. Over 90% of all respondents said that they were familiar with the iPhone brand. In fact, of all people who had purchased a smartphone in the last six months, 24% bought an iPhone.

Apple’s social-media marketing has been especially effective for reaching their ideal audience. The company has a strong presence on the web, including but not limited to personal networking sites like Facebook and Myspace, blogs, and YouTube, where they post tutorial videos. Young professionals, with a taste for new technology, respond well to this kind of corporate communication. With targeted marketing efforts like this, it’s easy to see why Apple is dominating the SmartPhone market in just over two years after releasing their first phone.

Who’s Buying?
The younger set and people with higher income have higher brand awareness when it comes to the iPhone. For respondents between the ages of 18-24 and ages 25-44, awareness is near 94%, whereas for respondents in the age group 45-65+, awareness drops to 87%. In the past 6 months, respondents ages 23-44 purchased three times as many more iPhones than the 45-65+ age group. Likewise, respondents who earn less than 50k have an 87% awareness of the iPhone brand, as opposed to 93% awareness from those who earn more. Respondents who earn more than 50k have purchased 2.5 times the number of iPhones in the past six months than those who earn less.

Actionable Insights
Apple is a case study for effective social-media marketing. The company has seen enormous success in its use of YouTube, Facebook, blogging and microblogging to reach consumers. Yet their success suggests that some companies may have more of an inherent edge in online marketing than others. If your target demographic is young, tech-savvy professionals, they are likely to be on all of the social media sites to begin with; reaching them through those sites is hence second-nature. But for those whose customers are less into online networking, sites like Facebook might not be as meaningful as marketing outlets.

The way to know where your customers spend time is through rigorous market research. Find out where your customers spend time. Ask! They will tell you. A more innovative method is social-media monitoring, which will not only tell you if your customers are talking about you on social media (thereby revealing if it is an effective place to market), but also what they say. Either or both technique will accomplish the desired goal, but no matter what approach you take, you should start asking these questions. The sooner you know if you should be on social media, the faster you can begin to establish your presence.

Next Steps You Can Take

Survey Methods
Date of Study: 6/18/2009
Total Responders: 345
Sample Source: FGI SmartPanel

Seniors Express Worry
In an effort to gauge the level of concern the average American has about his or her retirement, FGI Research conducted an independent survey entitled, “Consumers in Crisis.” The survey was designed to identify and measure how American consumers are reacting to changes in the economy. We asked respondents, with demographic qualities that reflect the 2000 census data, for their opinions. A clear majority of the seniors we contacted voiced concerns about their financial futures. In fact, the study revealed that 56% of seniors (aged 65+) are worried about having enough money on which to retire. As noted in the 60 Minutes report, “Many [seniors] fear they will never get to retire.”

All Demographics Feel the Pinch
Seniors today aren’t the only ones interpreting ill omens. When asked about their personal finances, half of all respondents said that their financial situation has “gotten worse than it was a year ago.” So, what is the answer for those Americans who are struggling to weather the financial storm? 63% of those surveyed are resolved to save more money in the next twelve months. Reflecting recent events, 53% believe that a government-insured savings account is the safest place for their investments, highlighting perceptions of economic instability. Indeed, the public is worried and looking for a safe investment. Companies competing for business in today’s economy would do well to address this issue in an effort to reassure consumers. Establishing, or in some cases, re-establishing, trust is a significant step along the path toward brighter futures.

Actionable Insights
The economic recession has obvious effects, on multiple levels, for anyone involved in business. Marketing must be oriented to express sensitivity to economic instability while still convincing consumers to buy. Pricing must shift to reflect tighter budgets for everyone. Internal restructuring will help companies save money, too. Where and how consumers save, invest their money, or spend money, all impact purchasing decisions and have real implications for those attempting to reach those consumers. The best way to survive the recession is with targeted research to follow the trends. Using survey data supported by the most advanced research methods, companies will have the know-how and resources to help them get through tough times along with everyone else.

Next Steps You Can Take

Survey Methods
Date of Study: 5/11/2009
Total Responders: 1402
Sample Source: FGI SmartPanel