In today’s digital era, to effectively market your products and services, you must have an elaborate market strategy that banks on market research. One of the latest trends in the marketing industry is social listening. This is the process of monitoring digital conversations and interactions on social media platforms to evaluate your brand’s impact on the market and customer feedback.
Employing social listening as part of the marketing strategy also gives your team a chance to understand the target market and niche better. Other benefits include:
- Discovering new prospects.
- Interacting with the target market.
- Identifying the top social influencer and brand ambassadors’ brand awareness.
- Promoting sales.
Collection of data
This process basically involves collecting and analyzing a mountain of consumer data, something most small businesses or startups cannot carry out on their own. This is where Netbase Quid comes in, a consumer and intelligence platform providing real-time and accurate social media analytics solutions to businesses to facilitate growth.
The platform is equipped with a Natural Language Processing technology designed to understand and classify complex languages to allow entrepreneurs to make informed decisions based on accurate data. This data can be applied in various sectors such as market research, public relations, marketing, customer service, and product innovation.
Uses of Social Listening
Engage with customers
Social listening helps you interact effectively with your customers and leads about your products and services. An example is if a prospect reaches out through social media for more information regarding your products. Through this platform, you can respond to your prospects’ queries fully. The answer may not be direct but can cover an emerging trend identified by the technology. This way, a good rapport is established between you and your target audience.
Helps with crisis management
The best part about this process can identify the emotions behind a customer’s words. With this, you can sort out the posts that are rubbing off positively and the negative ones. Go over the various feedback, both positive and negative, to find the best way to meet your client’s demands.
The process will help with getting ahead of a PR nightmare before it strikes. Look for the sources of the negative feedback and address it before it gets out of hand. Keep in mind your competitors, and other social influencers are on your social accounts. This is the best time to find an influencer capable of steering the conversation to avoid serious setbacks.
Track Competitors
This technology is designed to feed you information on people’s opinions about you and people’s opinions about your competitors. Keeping tabs on your competitors will give you a rough estimate of your position in the market. When a competitor is gearing up for a new launch or is coming up with new strategies, you can stay in the loop.
Discover sales leads
By engaging your target audience, you can cultivate a long-lasting relationship between you and the market. Once you have established a relationship with potential clients, you automatically become one of the top brands to come to mind when they are looking to purchase.
Identify influencers and advocates
People are always talking and sharing their views on social media; however, there are a few individuals whose voices have a huge impact. They are called influencers. This process will help identify who these influencers are. Influencers play an important role in influencing how their followers view you and your products and how they react to your competitors.
It is important to reach out and connect to these individuals to establish a robust online presence. Influencers and advocates are a good way of getting new sales leads and promoting brand awareness.