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.
Using an omni-channel strategy is becoming increasingly important for enterprises who must adapt to the changing expectations of consumers who want ever-more sophisticated offerings throughout the purchasing journey. Retailers are increasingly focusing on their online presence, including online shops that operate alongside existing store-based outlets. The "endless aisle" within the retail space can lead consumers to purchase products online that fit their needs while retailers do not have to carry the inventory within the physical location of the store. Solely Internet-based retailers are also entering the market; some are establishing corresponding store-based outlets to provide personal services, professional help, and tangible experiences with their products.
Social media marketing provides organizations with a way to connect with their customers. However, organizations must protect their information as well as closely watch comments and concerns on the social media they use. A flash poll done on 1225 IT executives from 33 countries revealed that social media mishaps caused organizations a combined $4.3 million in damages in 2010. The top three social media incidents an organization faced during the previous year included employees sharing too much information in public forums, loss or exposure of confidential information, and increased exposure to litigation. Due to the viral nature of the Internet, a mistake by a single employee has in some cases shown to result in devastating consequences for organizations. An example of a social media mishap includes designer Kenneth Cole's Twitter mishap in 2011. When Kenneth Cole tweeted, "Millions are in uproar in #Cairo. Rumor has they heard our new spring collection is now available online at [Kenneth Cole's website]". This reference to the 2011 Egyptian revolution drew an objection from the public; it was widely objected to on the Internet. Kenneth Cole realized his mistake shortly after and responded with a statement apologizing for the tweet.
Measuring Success with Analytics — You can’t determine the success of your social media marketing strategies without tracking data. Google Analytics can be used as a great social media marketing tool that will help you measure your most triumphant social media marketing techniques, as well as determine which strategies are better off abandoned. Attach tracking tags to your social media marketing campaigns so that you can properly monitor them. And be sure to use the analytics within each social platform for even more insight into which of your social content is performing best with your audience.
Inbound marketing refers to a marketing methodology wherein you attract, engage, and delight customers at every stage of the buyer's journey. You can use every digital marketing tactic listed above, throughout an inbound marketing strategy, to create a customer experience that works with the customer, not against them. Here are some classic examples of inbound marketing versus traditional marketing: