The juicy heart of the findings, or the takeaway rather: it is possible to demonstrate how online word-of-mouth relates to actual market performance.

For example, when the number of people who said online that they planned to buy a product spiked, so did the corresponding sales figures for the particular time period being examined. Now that’s valuable information to have.

The school blog post that reported on the research pointed to the value such information represents to a marketing team, as the data could possibly be used as an early indication of sales months before the actual sales figures would be available. Think of this information as the marketer’s crystal ball; it would allow you to determine much earlier than previously possible if a campaign were positively or negatively impacting sales — and to adjust accordingly.

But beyond this, we see the research as one more piece of evidence proving that the opinions people share online are very often authentic. And it speaks to one of the nagging questions that still claws at many marketers’ brains as they grapple to determine not just how to connect with consumers online, but what exactly to do with the information being shared. Do people say one thing online and then do something completely different when they area away from their keyboard? Research says? No. So if you’re not already, start listening to the chatter. And closely.

- Angela

In an article that ran in yesterday’s Wall Street Journal, Koehn urges businesses to act and think as entrepreneurs “doggedly pursing opportunity.”

Reading the article, I couldn’t help but think of how social media has provided such a rich avenue of opportunity for companies to not only discover opportunity, but to glean the kind of consumer feedback that allows organizations to tweak and improve upon existing products and services. And for the brave, to launch new ones.

What do I mean? We see it time and again in the work we do for clients. Your consumers are talking about what they like, and more importantly in this reference, don’t like about your product or service. They are talking about features they wish existed, and how they use the product/service – possibly in ways you aren’t even aware, providing the chance for you to make tweaks so that it will better suit evolving needs or the needs of new audiences. Audiences you didn’t know exist.

Learning how to tap into these insights can not only save companies from “shooting in the dark”; it can provide small and medium-sized organizations the kind of intelligence that has previously been the privilege of much larger companies which much more substantial research and development budgets.

If your searching for ways to not only survive, but thrive in this economy, take Ms. Koehn’s words to heart. Doggedly pursue opportunity. I’ll just add: The right opportunity.

- Angela