Marketing and Customer Approach on Social Media

Companies that use social media for marketing know the value of such community sites as Facebook, LinkedIn, and Twitter which provides these companies with a wealth of information which includes consumer Internet Discussion Groups and merchandise evaluation service. The monitoring of the above very popular social media reviews gives organization approaches to first-hand feedback from their customers. This means that IS managers must comprehend the framework in which observations and comments are being made and to separate major important subjects of discussion and underlying feelings from amorphous content.

Companies can carry out experiments on the Web because to take advantage of innovations such as web crawling, web scraping, text mining and sentiment analysis. However, companies must take extreme care if outsourcing the entire process to third parties because technologies are evolving and changing at a very rapid pace and companies must avoid using technological solutions that limit future possibilities. Social media also helps companies to gather valuable information about current trends and the likes and dislikes of consumers. This interaction is also very helpful to companies who need to have the latest information about their competitors.

Social media enjoys advantages over other media because it is very helpful in carrying out market research quicker and cheaper than it has been done ever before. It also interacts with a wide range of consumers again and again because it provides direct customer reaction and comments of high-priced and time consuming motivated people who have certain or many things in common. A good example is Electronics retailer Best Buy which carries out more than 5,000 formal discussions per week through online Internet Discussion Groups.  It also communicates on a regular basis with its 1.3 million followers via Facebook. This provides very valuable feedback about what customers really want and what the competition is doing. Currently LinkedIn, Facebook and Twitter are the places where businessmen prefer to do their marketing as these are considered the most reliable indicators of online advertising performances.

It is obvious that the implementation of Web 2.0 technology has transformed the way that people communicate with each other. This technology has improved interactive communications between customers and also between individuals. Because of this it has become essential for marketers to adopt and make the most of the innovative modern channels for updating their technological base. However, marketers must select the appropriate Web 2.0 solutions and programs to manage their data more efficiently. Nowadays it is the easiest and cheapest way to influence their customers buying decisions. The applications that companies select and implement must have software that will monitor customer loyalty and sentiments.