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.
Social Media for Content Promotion — Social media marketing is a perfect channel for sharing your best site and blog content with readers. Once you build a loyal following on social media, you'll be able to post all your new content and make sure your readers can find new stuff right away. Plus, great blog content will help you build more followers. It's a surprising way that content marketing and social media marketing benefit each other.
More than three billion people in the world are active on the Internet. Over the years, the Internet has continually gained more and more users, jumping from 738 million in 2000 all the way to 3.2 billion in 2015. Roughly 81% of the current population in the United States has some type of social media profile that they engage with frequently. Mobile phone usage is beneficial for social media marketing because of their web browsing capabilities which allow individuals immediate access to social networking sites. Mobile phones have altered the path-to-purchase process by allowing consumers to easily obtain pricing and product information in real time. They have also allowed companies to constantly remind and update their followers. Many companies are now putting QR (Quick Response) codes along with products for individuals to access the company website or online services with their smart phones. Retailers use QR codes to facilitate consumer interaction with brands by linking the code to brand websites, promotions, product information, and any other mobile-enabled content. In addition, Real-time bidding use in the mobile advertising industry is high and rising due to its value for on-the-go web browsing. In 2012, Nexage, a provider of real time bidding in mobile advertising reported a 37% increase in revenue each month. Adfonic, another mobile advertisement publishing platform, reported an increase of 22 billion ad requests that same year.