Social media tools are a potent way to make advertising decisions. With the help of these technology resources, companies can study potential consumers to gather feedback and information on their target market before investing. It is now possible for a company to research consumer behavior, product development, marketing campaigns, and logo designs in a matter of minutes. Here are ways a brand can use social media resources to make marketing decisions and form a marketing campaign based on social media tools.
1. Researching consumer behavior
With the help of social media resources, a company can access information on the demographics and preferences of its target market. This can be useful in finding out who, when, and where their target market will be. Furthermore, companies have access to information on who shares similar interests with their target market and what groups may also interest them.
2. Product development
A brand wanting to sell products, services or ideas can find useful information on what consumers are looking for online through social media resources. For example, a company selling mascara can go on Twitter and ask their followers what they want to see in their next mascara. The company then has valuable information that consumers have already expressed interest in and have allowed them to build off of this idea.
3. Marketing campaigns
A brand can use social media resources to promote its marketing campaigns or decide on the best marketing campaign for its product. Marketing campaigns can be chosen based on what consumers are already interested in, what they are looking for, and how they consume the product. For example, a brand selling a new beer can utilize Facebook to promote its new product. A company selling a new soda can choose to use Twitter to promote its beverage because of the many hashtags used on this network.
4. Logo designs
A company using social media resources for marketing purposes also has access to information on how consumers feel about the logo design of their brand. Online conversations regarding the brand can be used to determine whether the logo design is appealing to consumers. Moreover, social media resources can determine what colors, designs, and fonts best match a company’s brand.
5. Researching demographics
A company using social media resources has access to information on the demographics of its target market and the demographics of its competitors or those companies that could enter the market in the future. Social media resources are also useful in determining how potential consumers may react to a new product, service, or idea. This is advantageous because a company may have an idea for a product, service, or idea but needs to know if the market will accept it.
6. Identifying groups/communities
A brand can use social media tools to identify groups and communities with similar interests to their target market. This can be done through social media networks such as Facebook, Twitter, and Pinterest, known for connecting people based on shared interests. These networks can then be used to connect brands and potential customers.
Although social media is becoming an important marketing resource for businesses, it is still important to balance its benefits with the responsibility of investing time and money into these sites. Although these tools can provide a wealth of data and information regarding consumers’ demographics, preferences, and behavior, they require careful consideration before implementing this data into marketing campaigns. For example, a company may choose Twitter to promote its new product. However, no data will be available if consumers do not use this social media site to discuss their thoughts on a company’s products. Furthermore, what if the demographics of the Twitter community need to match that of the brand’s target market? That would mean all the information gathered on this social media site is useless to a brand and can potentially waste time and money.