5 Ways To Make Use Of Social Listening
Social listening is the art of monitoring the chatter surrounding a brand across various social media channels. With social listening tools, businesses can capture customer feedback, direct mentions, or discussions related to the brand name or keyword, which puts them in a unique position to understand customer sentiment. Businesses can also use it for conducting competition analysis or discovering market opportunities.
Ways to put social listening into practical use
In practice, social listening appears to be an excellent strategy to build a customer-centric ecosystem. However, it can only be successful if properly employed. Following are some tried and tested ways to put social listening tools to good use.
Monitoring brand health and growth
Social listening helps in deconstructing the general perception of your brand and product/service. It serves as a feedback loop that helps you track the brand’s current position, growth potential, and progress. Based on such data-driven insights, it is easier for businesses to mold public opinion and manage their online reputation. There are brand monitoring tools and social media management tools that continiously carry out these actions.
Engaging with customers
Studies indicate that nearly 46% of consumers believe that engaging with customers through social media elevates a brand to the “best in class” position. Social media has emerged as a tool for businesses to stay responsive and relevant to enhance customer experience. However, such an approach is possible when you use social listening tools to understand customer sentiments and craft high-value, engaging content.
Discovering new market opportunities
If you are looking to break into a new market vertical, you can leverage social listening and let the target audience do all the legwork for you. Social listening offers a unique customer’s perspective on their pain points, using which you can innovate and capitalize on various windows of opportunities to diversify your product or services.
Increasing customer acquisition and retention
As customers wield the ultimate power of dictating the dos and don’ts of businesses, listening to them can help improve products/services. Further, it sets the tone for customer expectations that you can use as the benchmark for delighting your customers. Further, aligning business strategies with customer expectations will help businesses acquire new customers and retain old ones.
Social media platforms are a level playing field for various brands. It acts as a pivoting point for both – young startups and established enterprises to charm their customers. And as everyone battles it out on the same platform, brands can track and analyze the performance of their competition. You can use social listening tools to understand why your customers prefer your competition, what are the various marketing strategies that yield success, how are their offerings distinct from that of your own – and so on.
Social listening an illustration featuring netflix
Netflix is a prime example of social listening done right. One look through the brand’s social media handles and it is clear how they are every millennial’s internet friend. This persona is made possible as Netflix uses social listening to understand their target audience, craft relevant content, share content from other creators, and adopt a brand voice that appeals to their customers.
In fact, Netflix used social listening to realize that people binge-watching their shows often fall asleep. On learning about this trend, Netflix prototyped the famous “Netflix Socks” and shared a DIY video of smart socks that detects when the viewer has fallen asleep and pauses the show! Of course, the platform also has the infamous “Are you still watching?” prompt, but that’s probably about to go. Why? Because Netflix used social listening to realize that their customers resent it!
Useful tools that will help you in your business growth and brand building:
Social listening is the best and the most customer-centric way to grow. Now that you have understood the nuances and the impact of social listening, it’s about time that you embrace a social listening tool that does justice to your brand and its marketing campaigns. An Omnichannel solution provider like Locobuzz can provide you with such a tool. One also needs to have an omnichannel customer engagement strategy to manage such a huge amount of data. Locobuzz has one of the best social listening tools present in the market.