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Social Listening, the practice of “listening” to the online chatter around your brand and competitors’ digital presence, is an extremely valuable practice for any business. Social Listening primarily consists of three steps: monitoring, analyzing, and taking action.
Social Listening is mostly concerned with customer-generated media which has revolutionized the digital industry. Social listening helps to know what customers are saying about your brand and its products at all times. It lets you gather important data which you then analyze to look for social media sentiment and identifying trends over time.
Here are some reasons why social listening is important for your business.
- Social Strategy
If your brand’s serious about digital marketing, you need to integrate social listening into your digital strategy. With focused listening, brands can find out which social media platform is used most by its users. It also helps understand the general sentiment about the brand, products, services, competitors, or industry. By using social listening, brands can design their social strategies more efficiently and accurately.
- Product Analysis
Through social listening, brands receive real-time feedback about products and services. You can easily analyze your customers’ feedback to discover valuable insights and alter strategies to fulfill the needs of customers. This feedback is valuable as it helps to improve your product, service, and general strategies.
- Campaign Analysis
Social listening helps you measure campaign performance. Brands have the ability to analyze quantitative as well as qualitative metrics of a particular campaign. Quantitative metrics can be analyzed via a share of voice, the number of mentions, etc. Qualitative metrics can be analyzed via sentiment analysis (i.e. positive, negative, and neutral mentions on campaign posts).
Brands can measure the performance of a campaign by monitoring the sentiments. They can also modify the content accordingly to get maximum positive comments.
- Brand Reputation
Brand reputation is critical. A positive brand reputation builds loyalty and increases customer confidence. Social media listening helps in managing the online reputation of the brand.
By actively listening to what your existing and potential customers are saying, you can:
- Generate leads
- Strengthen ties with your user base
- Control your reputation
- Avoid potentially damaging situations
Brands can build a reputation by analyzing mentions across channels and quickly responding to queries and providing solutions.
- Competition Analysis
Social listening also provides the feature of listening to competition. Competition listening is used to know about the competitive landscape including campaigns, strategy, and customer complaints. It helps brands understand the customers’ needs & requirements and can help in designing marketing strategy accordingly.
Competition listening helps brands in the following ways:
- Make brands aware of the problems with competition’s products
- Help brands reach out to potential prospects
- Helps brands understand unique value propositions
- Helps monitor new additions to products