Agile innovators and the collaborative economy: Why social is about more than just social data
Caroline Plumb, CEO of innovation consultancy FreshMinds, told delegates at the Market Research Summit held in London in May 2014 about the many ways in which social media can be utilised for research – not only in understanding target audiences but also in helping shape the businesses of tomorrow.
She set the scene by informing the audience of the sheer size and scale of social media. British social media users spend 1.6 hours on social channels every single day and when we consider that social media extends beyond social channels into product reviews, forums and even blogs, the real impact of social is much greater. And it's only going to get bigger, thanks mainly to the increased take-up of mobile devices which has accelerated growth. There are now almost as many mobile-connected devices as there are people on Earth and by 2018, this number will increase to a staggering 10 billion. So as mobile grows, consumers' ability to swipe, snap and share anywhere, at any point of the day or night is only set to increase.