Leveraging the power of social media can reap priceless food consumer insights that reflect food and beverage spending trends. Choose nearly any social media platform and the high percentage of the commentary focused on food becomes readily apparent. Many consumers invest a significant amount of time in publicly applauding or shaming food products and posting pictures as well as their insights on public media. When these posts are aggregated by watchful market analysis experts, emerging trends can be identified. Commercial enterprises that invest in accessing this invaluable information can then develop effective strategies for capturing ever-larger market share within the food and beverage industry.
Consumer tastes and preferences are constantly in flux, and this is especially true when it comes to food. In turn, this affects the bottom line of any company that caters to food and beverage consumers. To meet demand and maximize profits, it’s critical that suppliers stay abreast of food consumer insights. This can provide them an edge over their competition.
Food and beverage industry players are wise to turn to a market research company that has monitored trends over a long period of time and reaps the insight provided by social media.
Brand Awareness Insights from the Average Food Consumer
Food is often a conversational topic whether it’s in the workplace, at home, or on social media. In the latter example, brand awareness is critical for companies in order to be successful, just as it is in any other industry. Brand tracking is a necessity and one tool for accomplishing this goal is to monitor food consumer insights through social media. Gaining this information can inform a company that caters to food consumers in focusing their marketing efforts, research and development of new product, and even their packaging choices.
Monitoring Trends of Food Consumer Insights
Owing to the number of existing social media platforms, the waning popularity of each, and the steady introduction of new platforms, companies in the consumer food industry are often at a loss for how best to mine and leverage insights. The information our team gleams includes slow as well as fast moving trends in addition to historical trends. This can lend toward an understanding of what can be expected from the average food consumer based on cumulative insights, and assist your company in making informed strategic decisions as well as learn how to leverage food consumer insights.
Negative Food Consumer Insights is Also Invaluable
When a food consumer goes online to complain about the meal or service they received at a local restaurant or grocery store, it is noticed by fellow consumers. In the worst case scenarios, negative reviews can be catastrophic for a company. And even if the company immediately address the issue, consumer fears about using that food product will often linger indefinitely and continue to erode market share. Maintaining an awareness of pitfalls experienced by the competition can provide the impetus for creating a proactive strategy of avoiding these problems in the first place. And should the negative consumer insight be directed at food product manufactured or distributed by your company, early intervention can be key for turning the tide. When handled correctly, it can be an opportunity to showcase your company’s commitment to providing quality customer service. In essence, it can be the proverbial turning lemons into lemonade.