Small businesses also use social networking sites to develop their own market research on new products and services. By encouraging their customers to give feedback on new product ideas, businesses can gain valuable insights on whether a product may be accepted by their target market enough to merit full production, or not. In addition, customers will feel the company has engaged them in the process of co-creation—the process in which the business uses customer feedback to create or modify a product or service the filling a need of the target market. Such feedback can present in various forms, such as surveys, contests, polls, etc.
This involves tracking the volume of visits, leads, and customers to a website from the individual social channel. Google Analytics is a free tool that shows the behavior and other information, such as demographics and device type used, of website visitors from social networks. This and other commercial offers can aid marketers in choosing the most effective social networks and social media marketing activities.
10. Improved Customer Insights. Social media also gives you an opportunity to gain valuable information about what your customers are interested in and how they behave, via social listening. For example, you can monitor user comments to see what people think of your business directly. You can segment your content syndication lists based on topic and see which types of content generate the most interest—and then produce more of that type of content. You can measure conversions based on different promotions posted on various social media channels and eventually find a perfect combination to generate revenue.
YouTube is the number one place for creating and sharing video content, and it can also be an incredibly powerful social media marketing tool. Many businesses try to create video content with the aim of having their video “go viral,” but in reality those chances are pretty slim. Instead, focus on creating useful, instructive “how-to” videos. These how-to videos also have the added benefit of ranking on the video search results of Google, so don't under-estimate the power of video content!
Since social media marketing first came to be, strategists and markets have been getting smarter and more careful with the way they go about collecting information and distributing advertisements. With the presence of data collecting companies, there is no longer a need to target specific audiences. This can be seen as a large ethical gray area. For many users, this is a breach of privacy, but there are no laws that prevent these companies from using the information provided on their websites. Companies like Equifax, Inc., TransUnion Corp, and LexisNexis Group thrive on collecting and sharing personal information of social media users. In 2012, Facebook purchased information from 70 million households from a third party company called Datalogix. Facebook later revealed that they purchased the information in order to create a more efficient advertising service.
Sharing Curated Links — While using social media for marketing is a great way to leverage your own unique, original content to gain followers, fans, and devotees, it’s also an opportunity to link to outside articles as well. If other sources provide great, valuable information you think your target audience will enjoy, don’t be shy about linking to them. Curating and linking to outside sources improves trust and reliability, and you may even get some links in return.
Another ethical controversy associated with search marketing has been the issue of trademark infringement. The debate as to whether third parties should have the right to bid on their competitors' brand names has been underway for years. In 2009 Google changed their policy, which formerly prohibited these tactics, allowing 3rd parties to bid on branded terms as long as their landing page in fact provides information on the trademarked term. Though the policy has been changed this continues to be a source of heated debate.
Mobile devices have become increasingly popular, where 5.7 billion people are using them worldwide . This has played a role in the way consumers interact with media and has many further implications for TV ratings, advertising, mobile commerce, and more. Mobile media consumption such as mobile audio streaming or mobile video are on the rise – In the United States, more than 100 million users are projected to access online video content via mobile device. Mobile video revenue consists of pay-per-view downloads, advertising and subscriptions. As of 2013, worldwide mobile phone Internet user penetration was 73.4%. In 2017, figures suggest that more than 90% of Internet users will access online content through their phones.