Posted by Dhara on March 26, 2019
Hey, are you listening? Good. Let’s set some context.
As of October 2018, the total worldwide population was 7.7 billion; the internet had 4.2 billion users and there were 3.4 billion active social media users.
Billions of people, half the Earth’s population, are constantly connected and engaging with one another through various social media channels and as a result, producing massive waves of unstructured data a.k.a, a goldmine for global brands.
Building healthy relationships: Social Media Monitoring
Social Monitoring is the first step to connect with your audience through social media. It involves tracking and responding to all of the messages sent to your brand, and any mention of your and your competitors' brands. Social Monitoring addresses customers on a personal level. This is when brand custodians or social media managers respond to incoming consumer queries, issues, and comments. This is a reactive approach where customers make the first move by reaching out to brands on social media and brands respond with appropriate solutions.
Big brands collect data about these interactions to use as a totally organic opportunity to take a peek into people's honest thoughts, feelings, and opinions; this is a form of Brand Intelligence.
- Brand health: How do your customers feel about your brand holistically?
- Customer experience: What kind of good or bad experiences have customers had? Can it be broken down by location?
- Campaign analysis: Which campaigns had the most positive and negative impacts on your customers?
Become an authority: Social Media Listening
Although Social Media Listening and Monitoring are in fact quite different concepts, both terms are often used interchangeably. Listening is profoundly different from monitoring in that it relies on being proactive rather than reactive. Social media listening allows us to influence brand perceptions and concerns on a macro level, generating opportunities and respect. Social media listening revolves around monitoring all conversations around both your brand, and industry, and interacting with these conversations. Doing so will give a brand insight about their industry and target demographic, i.e. Industry Intelligence and Competitive Intelligence.
- Audience and trend analysis: How can you keep a pulse on your key demographics to cater your messages?
- Product and content research: How can you determine the best products and content to create and share?
- Influencer recognition: How do you find the influencers in your industry to better broadcast your messages?
- Competitor comparison: Who are your biggest competitors on social media and how much of the message do you own?
- Sentiment research: How do your competitors’ social followers feel about them and how can you leverage that data?
- Tactical differentiation: What kinds of campaigns and content strategies do your competitors use and how can you differentiate yourself?
TL;DR (too long; didn’t read)
In a nutshell, social media monitoring tells you what people have to say about your brand, solves direct queries on a micro level, and keeps you connected with your target audience. But, businesses who want to take their social presence to the next level should consider deploying a social media listening strategy. Listening gives a brand valuable insight into the why, providing a macro perspective of your customers’ moods, trends, and opportunities. Connect with the experts in our Streetsville Studio, to see how we can build a unique social strategy for you and your business.