Social Media is not optional, because each brand will have a digital presence on the internet irrespective of whether it enters Social Media Marketing or not. If you will not write about your company, someone else will. Either you participate in Social Media and present your perspective or let your competitors or customers do it for you. Hence you are not left with much choice. Social Media Marketing protects your reputation and redefines your online image.
Social Media Marketing is incomplete without Social Media Monitoring. It helps to identify unnoticed customer care problems and quality control. You should track your company name, product name, names of competitors, industry keywords, your taglines and recent marketing efforts like special promotion on festivals. Social Media Monitoring benefits businesses, big or small, in a big way. It showcases every aspect of conversations about your brand without any manipulations. In the huge web network, it is easy to get lost in the immense noise of the internet unless you have a strong Social Media network which is being monitored continuously at all times.
Implementation of Social Media Monitoring
Because of the unimaginable size of the internet, it is impossible to keep a track of traffic on Social Media sites especially for large firms. There are several Monitoring softwares or tools available in the market that helps the client to track the presence of the company in Social media. These tools do a complete analysis of your brand like who is talking about it? Are they positive or negative about your company? Who is the influencer in the Social Media? These tools assign a sentiment to a post –negative or positive, automatically. It finds out the maximum searched keywords and taglines, to check the success of online marketing campaigns. Since these monitoring tools use algorithms to measure sentiment and success, its success rate is only 70%, therefore manual checking and spot checking is necessary from time to time for correct analysis of data. Some of these tools are mentioned below:
- Google Alerts
- Twitter Advanced Search
- Social Mention
Advantages of Social Media Monitoring
Social Media Monitoring analyzes Consumer preferences, sentiments and intentions in real time. It helps to identify emerging trends which can be later validated using traditional research. The advantages of Social Media Monitoring are listed below:
- Social Media Monitoring is important because it alerts the Company immediately when people are saying good/bad things about it and they can take actions accordingly.
- It helps the company to quickly respond to all customer service queries by collaborating and exchanging information seamlessly with the technical experts and members of the support team. Thus it helps boost the customer base of the company.
- The company can easily detect who is talking about their product and join the conversation to bring more credibility to their brand and target the genuine customers. You can also find those people who are talking about your product but are not your customers so that you can communicate with them and educate them about your product.
- The company can monitor the changes happening in the market so that they can assess what the market actually needs and create it before the competitors.
- Social Media Monitoring helps the company to easily identify people in need of their product which is beneficial for the customer as well as the company.
- It helps to identify where you should “hang out” digitally depending upon where your constituency hangs out. Just like any outreach or marketing program, Social Media Monitoring helps to identify not only where you can find your current customers but also potential customers and therefore what medium is best for your company to engage these customers.
- Social media provides bigger and faster information than any other channel ever before. Hence monitoring it enables the brand to see if their content and approach is resonating with their target audience.
- Monitoring provides answers to questions like what type of conversation the customer base is having? Is the sentiment leaning towards positive or negative side? Thus it helps the brand to measure its efforts and to act quickly and efficiently for their present and future market.
- One of the most important roles of Social Media Monitoring is in Influencer Identification. Once you find out who is influencing others in forums or blogs, you can use their influence for the benefit of your company by asking them to write about your product or review it. Their comments can be used as testimonials by the company.
- Monitoring the response of Customers leads to improved service and product. Quickly responding to customer queries gives you a better position in the market. It brings in more positive sentiment and the company can gain by encouraging the satisfied customers to participate in Social Media to share their positive reviews about the company. These customers also have the potential of becoming huge influencers.
- It helps the companies to evaluate their performance against their competitors and the industry as a whole. It measures the growth of the company on Social Media and whether the efforts of the company are producing desirable results or not. It helps to gauge general sentiments of your customers, media, investors, etc. it helps to recognize your top users and find the sources of discussion.
- Monitoring also helps to track the activities of the competitors. You can find what they are doing and follow them accordingly.
Examples of Social Media Monitoring
There are several practical examples that show how Social Media Monitoring can be used. In facebook, you might see an ad for shoes the moment you update your status mentioning something about shoes. Similarly if a tweet about a product goes viral, then the person who tweeted might be asked to review the product by the brand irrespective of whether the person is a customer or not. Some real examples of Social Media Monitoring are given below:
- In 2007, Mountain Dew started a contest that allowed the customers to choose the next flavour of Mountain Dew. It was a very successful campaign and lead to the launch of “Voltage” in 2009.
- Dell is a leader in Social Media Monitoring. It has a Social Media Listening Command Center which tracks brand sentiment and chatter. American Red Cross uses this Dell Center to find emergency victims by tracking Twitter, YouTube and Facebook and give aid to disaster victims.
- KFC gives additional offers and giveaways for liking them on Facebook because when you “like” them, all your friends realize that you enjoyed KFC so much that you found time to “Like” it. So next time when they plan for an outing they choose KFC.
- Starbucks encourages the people to submit their ideas on Starbucks products and in return, Starbucks informs the people about what ideas they are implementing. It helps to engage customers and also deepens the bond between the company and the customers.
Social Media is now an integral part of business and with Social Media comes Social Media Monitoring. When you can gain so much from simply monitoring, and that too by using online tools, why wait! Begin Social Media Monitoring and make your business a profitable one.