Mobile social media
The traditional means of social networking offer a variety of opportunities for businesses in a vast spectrum of business sectors. The Financial Sector of mobile social media, makes use of location, so that the users can participate in a survey about marketing, communication, sales promotion, discount, and development programs.
The mobile applications of social media offer information for offline movements of consumers in detail level, however they are restricted to direct connections with businesses. Every business can now know the exact time that a customer enters one of its departments, as well as comments that take place during the visit.
The social media take two forms, the first is the company towards its consumers, where the company can create a connection with the consumer based on his/her location and provide critics about near areas. The second form of communication is user-generated content. For instance, McDonald’s offers gift cards of 5€ and 10€ to 100 users that are randomly selected. This offer increased check-ins by 33% (from 2.146 to 2.865), having as a result the publication of over 50 articles and a few hundred thousands news feeds and tweets.
Sales promotion and discount:
While in the past customers had to use printed coupons, mobile social media allow businesses to adjust their offers to specific users and specific hours.
For an increase in the long term relationships with the customers, the companies are able to create award programs that allow customers that check-in frequently to win discounts, and other privileges.