Why Brands Should Be Mining Reddit For Consumers

29 Jun, 2023

Brandwatch, a leading provider of social media listening and management solutions, offers you an exclusive sneak peek into their upcoming panel discussion with Reddit at MAD // Fest.

You may see “BIFL” upon browsing social media and dismiss it as yet another insignificant internet acronym. But you’d be wrong.

Many consumers use acronyms in online conversations not only for speed and efficiency (such as TL;DR, which stands for “too long; didn’t read) but also to amplify a sense of belonging when asking questions and making recommendations in forums.

BIFL is one of those acronyms, and it stands for “buy it for life.” Members of the r/BuyItForLife community on Reddit frequently use the acronym when seeking or giving advice on products with long-lasting durability.

By observing the discussions and recommendations on r/BuyItForLife, brands across various industries can gain valuable insights into what – in their consumers’ own words – contributes to long-lasting and durable products. This knowledge can help brands improve their own offerings and understand the key factors that customers value.

Tapping into consumer insights on Reddit

Reddit is a goldmine for businesses looking to understand how consumers feel and think about their brand and products, and what they look for in their next purchase.

Here are three key reasons why brands across all industries should consider mining Reddit for consumer insights.

1. Massive Audience: Reddit's Extensive Reach

Reddit.com clocks in 1.7bn monthly visits, and last year, Statista reported that referral traffic to Reddit.com amounted to roughly 84m visits worldwide.

On Reddit, members of more than 100,000+ interest-based communities submit posts that others rate ("upvote" or "downvote") based on their preferences and liking. This rating system determines the importance of a post and elevates its visibility to the top of results – influencing many consumers along the way.

Even those who don’t engage in Reddit discussions publicly – aka lurkers – can spread the word about Reddit learnings outside the platform.

We used Brandwatch Consumer Research to look for online mentions of people saying they’ve seen, heard or learned something on Reddit across various social media networks and blogs.

In the last 10 years, the conversation surrounding Reddit learnings has grown significantly. People increasingly turn to Reddit to share their thoughts, pose questions, and discuss various topics and products.

2. Highly Engaged Discussions: Fostering Valuable Interactions

Reddit is full of passionate people who possess in-depth knowledge of a specific topic and personal stories they are willing to share. This abundance of expertise fosters an environment where redditors trust and rely on the advice of their peers, including product recommendations.

Reddit community members often share their first-hand experiences with products and brands, discuss personal challenges, and offer extensive research to support their decisions.

Since posts that get comments and upvotes will show up on the Reddit “home” tab more, some conversations live and thrive for years, with more people adding information and opinions to the existing topic over time.

These long-term conversational threads can provide brands with rich insights into the buyer’s journey, from research to evaluation to purchase and beyond.

3. Diverse Interests and Demographics: A Rich Tapestry of Perspectives

Reddit is home to thousands of different communities, catering to various audiences, from finance enthusiasts to coffee lovers to Netflix fans.

While user demographics on Reddit skew towards a younger audience, the platform does attract people of all ages and interests.

In our new guide on the power of peer-to-peer recommendations on Reddit, we studied advice-based conversations in five popular subreddits using Brandwatch’s Reddit Social Panels.

Here’s how different generations stack up against each other in advice-based conversations across five different communities:

● Of the five subreddits we analyzed, baby boomers were mostly active in r/DIY.

●  Recommendations in r/Gadgets attracted a relatively high percentage of Gen X – and the highest percentage of mentions among this population across all five subreddits.

●  r/SkinCareAddiction and r/GiftIdeas had strong engagement around recommendations from Gen Z and Gen Y.

  • Analyzing Reddit recommendations can help brands track consumer trends and interests over time – and across generations. Brands can use cross-generational insights to better communicate with their audience and drive meaningful results.

    Turning consumer insights on Reddit into brand opportunities Reddit provides valuable benefits for various teams within a company:
  1. Research and development teams can gain insights into consumer preferences and the ranking of different features and categories.
  2. Strategy teams can uncover critical consumer feedback that can shape the company’s vision and influence decision-making.
  3. Marketing and sales teams can leverage verbatim consumer opinions and feedback to refine their positioning and messaging.

In summary, Reddit offers a wealth of knowledge that can inform product development, guide strategic decisions, and enhance marketing efforts, ultimately strengthening the bond between brands and their consumers.

Join us at MAD // Fest on July 6, at 12.30pm BST, on the Hexagon stage, where the speakers from Brandwatch and Reddit will discuss the insights from the Reddit Guide. Also, swing by for a happy hour at our cabana booth (C6) between 4pm-5pm BTS.

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