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Because of the open nature of the social media web sites, you can easily find your customers and see what they do online, learn about their interests and discover characteristics about the people that they connect with. Friends of your customers have always been a great target market. In fact, research suggests that people are five times more likely to buy a product if their friends recommend it.
While you may not be able to get full details of an existing customer's contacts from websites like Facebook and MySpace, you can get a lot of valuable information. If you set up a Facebook profile and ask to become a friend with an existing customer, you will most likely be accepted, if they liked your product. Through this one connection, you have the opportunity to identify their friends and make additional contacts.
In addition, transparency is very important when it comes to building trust. Never try to disguise who you work for or make comments about your company or a competitor under a false identity. Too many times companies have tried this and have been humiliated and received bad press.
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The Marketing Analysts Blog - Data driven marketing decisions
Before you design your next marketing campaign, you should consider the ideal type of customer that you want to target. To maximize effectiveness and ROI, marketing collateral should target the right audience, with the right offer and be delivered through the right medium. However, knowing the best offer, storyline, theme, length and medium requires in-depth knowledge about your target. Gaining this level of knowledge often requires marketing research and the aid of multivariate data analysis.
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The Marketing Analysts provides analytical marketing, quantitative marketing, predictive marketing and qualitative marketing research services that include data analysis, data mining, predictive modeling, and research that provides optimal marketing mix strategies. In addition to offering services...
Updated on 2009-07-02
Created on 2009-06-26
Category: Business & Finance
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