What are the different types of media market analysis?

To know more about the market and surrounding business environment companies need information to achieve sucess.

There are various methods of market analysis are available so companies can gather the requisite information for external factors. Some common market analysis options include surveys, focus groups, observation, field trials, or other methods. Irrespective of the approach used, the methods of market analysis should provide valuable information the company did not have before.The gathered data should also allow a company to improve operations and be stronger than competitors.

Before analyzing you should identify your competitors and compare your brand to them, there is no golden standard for that in social media so you have to keep pushing it and improving your brand's online identity.

There are certain elements you should be looking at when analyzing any market:

1. Compare Engagement Rates. (how you stack up against the competition)
2. Measure Responsiveness Against Market Leaders. (How you compare to the standards set by other brands in your industry can play a key role in retaining current customers and growing your business)
3. Quantify Your Reach with Market Context. (understanding how your reach stacks up to competitors)
4. Measure Your “Share of Voice”. (evaluate how big your slice of the conversation is compared to your competitors)
5. Dig Deeper with Content Analysis. (monitor what works best for your industry in each social channel

Now all these are very generic and you are going to have to set a more specific strategy to measure, maintain and analyze your brand's online statues and market statues.

The best way to find out and analyze the performance of the media, is the constant interaction with customers, through it you can determine very important elements, the first of the quality of the product and the actual percentages for future sales of the products.

So the interaction with the customer first steps of good analysis, and therefore gives a strong market research.