Social media monitoring has changed my entire outlook on marketing. I approached this with the idea of trying to reach large numbers of people to convince them to buy my product. Now, I have come to realize that it makes far more sense to listen to their needs, wishes and desires and to build a product that will meet those objectives. I am struck by how open, honest and even raw some of the online discussions can be, It is better than having a full time free focus group. Some of these people really express their concerns, fears and needs in a way that moves me to build a product that not only is financially beneficial to me but that will help so many people that need help.
I have been focused on an older demographic that is nearing or at retirement age. They have a strong but narrowly focused online presence and I am struck by how much I can learn just by listening. I know that this has been presented thoroughly throughout the series of courses but it can be much deeper than just listening to see where your market is at. I will never attempt to develop a product on my own again. I will just listen and occasionally participate in online discussions and see what void needs to be filled. I am an entrepreneur with a one person company but with a massive free research and development division: It is called the internet.