The proliferation of online social networking technology can be leveraged by businesses in many different ways. One recent application has been by marketers who are eager to get feedback on new products and services, potential advertising campaigns and basic consumer insights.
Using social networks as focus groups has many advantages. From a logistical standpoint, it's much easier to recruit large amounts of product users who may be located in different parts of the country. Secondly, the costs to the company will be greatly reduced from traditional focus groups. And lastly, the level / depth of communication between the company and its customers can be greatly increased.
As more and more consumers become familiar with social networking, companies across all industries should identify new ways to use this technology to its advantage. By tapping into the minds of consumers and significantly reducing the timing of the feedback loop, companies can be a lot more agile in their product offerings and exploit potential opportunities in their respective markets.
http://online.wsj.com/public/article/SB120027230906987357-YvSpkre2s53uiuD_Lg1I1_6lLdg_20080212.html?mod=tff_main_tff_top
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