Precisely targeted marketing campaigns.
As many business owners already know, social media is a goldmine of potential customers. The info collected by Facebook and other sites allows you to target specific groups of people based on their demographics or tastes. This is a huge leap for marketing. The days of putting an ad in the newspaper and hoping for the best are behind us.
Let’s say you’re a dentist in search of new patients for your small practice. Twenty years ago, you probably would have advertised your services on the local radio. Perhaps 90% of listeners wouldn’t have paid attention, 5% would have switched station, and another 4.9% would already be loyal clients of another dentist.
It was still worth it for the remaining 0.1%. But such poorly targeted marketing was almost like sending a message into outer space for aliens to discover.