Predicting the market future using Social Media

The dream of every marketer is to have the ability to see into the future. This would determine the changes that are likely to occur in the businesses world and need present adjustment. Predicting the future in the business world is not an easy task. However, an analysis of the social media can provide a few tips on how the business world will look like in the future.


Predicting dynamics in the food industry

Healthy living has become a great concern in the present world. Fat has become a major concern in the food industry. Fat-free, low-fat, good or bad fats are some of the concerns that restaurants and food processors are paying great attention to as consumers have become over wary of the fat contents in the foods that they consume.

A social data analysis exhibits a change in consumers’ collective perception of fat. An analysis conducted between 2010 and 2015 shows a near doubling of positive opinions regarding “good fats.” It’s during this period of time that debates on low-fat decreased while there was an increment in low-carb diets conversion.

Positive mentions of popular conventional nutrients like vitamins reduced between 2010 and 2015 of analysis. This trend is essential for restaurant marketers and food processors that are keen in observing social trends related to food nutrition. Parties in the food processing industries ca take advantage of such trends by sensitizing their clients on the steps they have made in ensuring that they offer low and good fat foods.

Predicting customers’ destination preferences

An analysis on social media shows that many individuals would want to visit different countries. However, the greatest limitation is the price of air tickets that makes it impossible for the low earners to realize this dream. Business owners that offer travel services have realized this social trend and consequently lowered the amount paid for flight tickets. Some of the destinations that individuals long to visit are Australia, Japan, London, and Italy. Marketers can use these analyses to come up with customer-friendly services that would make a majority of the people realize their desire to visit these destinations while consequently increasing their profit margins.

Weighing the market’s response prior to its first boom

Marketers should predict the market reaction to an expected introduction of a unique product. The introduction of self-driving cars has raised different reactions from individuals. Some of these negative perceptions to the establishment of self-driving cars could see a steep decline in the demand for these cars. Some of these reactions could serve as a warning to marketers to refrain from rushing into the self-driving car business. The conversion rate of such a product could be relatively low as it will be targeting only a certain group of clients.