Social Media Listening
(This article talks about the definition, benefits and importance of Social Media Listening.)
Ever heard of the term Social Media Listening? What does it mean?
Social Listening refers to tracking feedback happening on social media regarding your brand, the products, and the broader industry in which it operates. The insights gained from the customers, prospects, products and competitors can be used to tailor your content. In this post, I would elaborate more on the benefits of Social Media Listening.
Before I move on to the gist of the blog post, I would first like to differentiate Social Media Listening from Social Media Monitoring. Using simple terms, Social Media Listening is a more macro view as compared to Social Media Monitoring. Social Listening provides a broader view of industry trends and customer sentiments that may have a direct or indirect impact on the brand.
Now, I would layout the benefits of Social Media Listening.
Firstly, by hearing the opinions of customers, problems can be solved easily. By determining the strengths and flaws of the product, it is the fastest way to improve the quality of the product. Taste and preferences of customers can also be identified and the product can be revamped to suit to these needs. Differences between the company’s products and their competitors’ products can also be determined. From there, the company can determine if additional investments are needed to further differentiate their product. Customers can also feel more valued and satisfied when their opinions are addressed. This increases the chances of retaining existing customers.
Secondly, after listening to the opinions of the customers, engage existing customers more. This can be in ways such as starting a online conversation with them. This provide them with more intimate relationship, helping them trust the business more. Also, when customers feel engaged, they are more likely to stick to the brand as they established a faith in it.
Thirdly, companies can track influencers in the industry and engaging them to publicize the products. These influencers can benefit the brand in a number of ways, including sharing brand content, creating unique content, extending brand reach, sharing their experience and increasing engagement for the product. This can help companies increase their sales.
Fourthly, social media listening can help companies learn more about their target audience. This include their segmenting their demographics. Trends in behaviours across the target groups can be determined and use of social media can vary across the target groups. This allows companies to target their different market segments more effectively.
All in all, it is thus important to carry out social media listening, determining the feedback of customers. From there, improvements can be made to the marketing campaigns and the products. However, it is important that the companies know how to weigh out the cost of addressing the feedback against the potential returns and the competitors’ market share. This can ensure future sustainability of the company.