Social Media has proven to be a great tool that companies can use to research their target market. Traditional market research can be expensive, but with social media companies can now reach out to a vast audience for feedback and opinions. The benefits of using social media to gather information include low/no cost, instant results, and simultaneously creating another channel of communication with customers that make them feel valued. One downside is of course the potential for customers to provide negative feedback on something as public as Twitter, Facebook, and other platforms, but negative feedback is still very valuable if not more valuable than the positive.
By now, we all know just how powerful social media is. One false move and a company can be in big trouble. On the flip side, if a company comes up with a way to use social media as a way to engage customers, it can mean major success. Whether it’s day-to-day, or for a national campaign, these days, it’s all about customer engagement. And, boy, did Lay’s hit the nail on the head with their Do Us A Flavour Contest.