Facebook has started to roll out a new function called Facebook Questions which allows people to ask questions about anything and have people, be it their friends or other Facebook users, who respond to them. This presents a great opportunity for businesses to crowd source and delve deeper into the minds of consumers for market research.

According to Nielsen’s Global Online Consumer Survey on the most trusted forms of advertising, 90% of consumers trusted recommendations from people they know and 70% trusted consumer opinions posted online. So if you happen to own a retail store selling women’s fashion, they would be able to trawl through relevant topical conversations and see what styles and latest trends are most popular amongst their target demographic. What is so great about the new tool, is that companies are able to look into the real interactions between friends and other Facebook users to find out their genuine thoughts and opinions. Like being a fly on the wall, this knowledge is invaluable and very beneficial to companies if harnessed in a strategic way. It can also be utilised as a more cost effective solution to traditional surveys and questionnaires as a means for market research. How would you use Facebook Questions?