Competition in business is real, the more you know about your competitors and where they are, the more you will profit in your business. Welcome to the world of social media monitoring! Apart from knowing what social media is and knowing the importance and benefits of social media marketing, many companies tend to overlook the importance of social media monitoring. So what is social media monitoring then?
Social media measurement or ‘social media monitoring’ refers to the tracking/crawling of various social media content such as blogs, wikis, news sites, micro-blogs such as Twitter, social networking sites, video/photo sharing websites, forums, message boards, blogs and user-generated content in general as a way to determine the volume and sentiment of online conversation about a brand or topic.
Social media monitoring – which is undertaken by a cross section of people including market researchers, PR staff, marketing teams, social engagement and community staff, agencies and sales teams – can allow users to find insights into a brand’s overall visibility on social media, measure the impact of campaigns, identify opportunities for engagement, assess competitor activity and share of voice, and be alerted to impending crises. It can also provide valuable information about emerging trends and what consumers and clients think about specific topics, brands or products.
[Source : wikipedia.org ]
Social Media Monitoring allows you to zoom in and it allows you to take an in-depth look at what content your customers, competitors, suppliers and even potential customers are talking about online through the use of social media or social channels. This will enable you to measure the exact buzz around the topic of interest or around the new launch of product, service, event or even a party! Knowing the buzz around the topic allows you to make very razor sharp marketing decisions and allows you to execute the plan better. Its like having your own private detective informing you on what has happened, who has talk about you, whether there is more positive or more negative feedback – are there any strong feedback coming from people who are extremely dissatisfied, disappointed, angry. Social media monitoring will also be able to help you identify opinion leaders and also influential people so that you can engage them and see how you can get them to help you spread your brand better.
Here are some information that you can get with social media monitoring:
- How relevant are you to your community you should be relevant to?
- How relevant is your content? What is resonating (gathering shares, comments, likes and tweets)?
- What’s not resonating? Why?
- What colloquialisms are popular among your customers and prospects? Do you speak their
- language, or do you speak corporate-speak?
- Where is your audience hanging out? What channels?
- Which industry players have the largest share of conversation?
- What are the major topics and trends discussed amongst your audience?
- Whether content posted is a Complaint?
- Whether content posted is a Compliment?
- Any question that needs to be answered?
- Any Leads or Inquiries that need to be followed up?
- Any Opportunity Conversations?
Getting into social media is not just about having a Facebook Page or a Twitter account and posting content out to these to inform followers of your latest development. With social media monitoring, you will be in a position where you will be better equipped with a type of “insider” knowledge, and this will certainly help in your marketing decisions because you might even have information that could predict an undesirable outcome if you continue to follow the path of your marketing plan.
To learn more about the above, please contact us.