What is Brand Monitoring And Why It Is Important in 2021?

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    The internet is an amazing tool to use for brand marketing. To survive in this digital world, a brand must have a good image for it to succeed.

    Reputation is everything that a brand needs, especially if you’re in the online market. A positive online reputation can make a brand successful, but a negative one leaves a sticky footprint that can take years to scrape off.

    With the advent of several internet technologies taking place, people are talking about a brand in more ways than ever possible.

    So when it comes to finding out what customers and competitors are talking about a brand, “Brand Monitoring” plays a commanding role.

    Brand Monitoring will help you understand how people feel about your brand, and in this article, we’ll talk more about brand monitoring and why it is essential in 2021.

    What is Brand Monitoring?

    Brand Monitoring is a business process of tracking and identifying the brand mentions on several different channels. Knowing when and what people are talking about your brand will help you understand people’s perceptions and collect audience insights.

    It is carried out to respond to several different conversations happening around your brand. The primary goal of brand monitoring is to provide in-depth analysis on where and when discussions are taking place on various forms of media and how they can be addressed to improve the brand’s health.

    Importance of Brand Monitoring

    Brand Monitoring is not about what people are saying about your brand. It’s also about understanding what people are trying to say about your brand and how you can use this information to support and grow your brand.

    Here are some significant reasons why brand monitoring is essential in 2021

    1. Improves Customer Service and Increases Loyalty
    2. It Helps You Improve Your Product Better
    3. Identify Sales Opportunities
    4. Opens Up Lines of Communication
    5. Tracks Competition and Their Performance

    1. Improves Customer Service and Increases Loyalty

    Monitoring your brand and attracting potential customers is only halfway to reach success. Building trust among customers and earning their loyalty is important to generate a continuous flow of income.

    To make this happen, you need to listen to your customers, respond to their complaints, and help them with your timely support.

    Whether it’s related to product issues or issues in the company’s service, several customers take their complaints and queries to social media.

    However, it becomes vital to respond to these questions because they significantly impact brand perception.  At these times, brand monitoring plays a crucial role because it keeps track of all queries and complaints to give helpful responses promptly.

    With the help of brand monitoring, you can provide better customer service to increase brand loyalty and retain them effectively.

    2. It Helps You Improve Your Product Better

    Brand Monitoring is an effective way to gather insights about your product worldwide. People may be expressing their views online by writing reviews or expressing their opinions on social media.

    Some of these may include tips or suggestions to improve your product in a much better way. This will help you identify where your product is lacking behind and how you can build a better product dedicated to your customers.

    You have to put your 100% effort into brand monitoring. Doing this will help you keep track of all the biggest complaints that customers have spoken or written towards your brand, and you can make product improvements accordingly

    3. Identify Sales Opportunities

    Apart from serving in customer service and product improvements, brand monitoring also helps to identify sales opportunities.

    Several people discuss online on several social media channels before deciding to buy a product online. They even seek honest reviews or opinions within their friends or family circles, asking for some clarifications.

    Identifying these conversations happening for a particular provider and providing customer assistance will help customers make quick decisions and convert them into customers.

    You can also identify dissatisfied customers of your competitors and connect with them at the right time to help you boost your sales.

    4. Opens Up Lines of Communication

    Brand monitoring not only helps you in tracking and analyzing but also allows you to open up lines of communication between you and your customers.

    Responding to all your customer’s conversations and making a visible presence shows the consumers that you are ready to help them with any related queries or questions.

    Communication plays a crucial role in building relationship with customers and it’s important for establishing your brand as a customer-centric business that actively listens to customers and cares about what they think about your brand.

    5. Tracks Competition and Their Performance

    Tracking competition and their performance is a great way to win and acquire disgruntled customers. You can run an analysis of your competitor’s branded keywords and see what people are talking about them.

    Are there any complaints? What kind of experiences are customers having towards their brand?

    Analyzing these questions will give you a clear idea of how to compete against the competition. In some cases, you will also get the opportunity to connect with disgruntled customers.

    How Can Locobuzz Help You In Brand Monitoring?

    Locobuzz provides comprehensive brand monitoring capabilities that will help your brand in every way to build its presence worldwide.

    It gives you real-time data about what customers are talking about your brand and how your brand positively stands in front of them.

    This platform gives you instant, powerful analytics for any topic and filters by demography, location, language to understand and develop your brand’s health.

    Locobuzz provides advanced analytics reports with automated alerts to save time and focus more on strategy.

    The best part about Locobuzz is its competitive benchmarking feature. It has an intelligent interactive dashboard that provides all the competitor’s metrics to help brands make effective business decisions and stay ahead of the curve.

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