Social networking and the “wisdom of crowds” help
companies improve their marketing simply by being able to reach a far more vast
number of customers and potential customers than any other form of advertising.
With social networking and crowdsourcing companies are able to get the opinions
of lots of people who are networking over the Internet which makes e-commerce much
less expensive than any other form of commerce. Companies are able to see
what products the public likes and dislike and are better able to give
customers what they want. Word of mouth is one of the best forms of marketing
and advertising a product, so social networking and the wisdom of crowds are
perfect ways for soliciting free predictions of how certain products are
working. Also, this allows companies to build better relationships with existing
customers while at the same time gaining new customers.
Behavioral targeting is when tracking is being done
on the clicks of different web sites to find out what certain people are
interested in. This, allow companies to know what consumer are interested in so
they are able to customize their web site to suit the customer’s individual
needs. After, being able to monitor and learn the behavior of consumers, the
advertising networking becomes a lot easier.
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