Social listening is an art that permits you to analyze mentions.
In other words, social media listening is a step-by-step plan for the marketing department:
- Track conversations about various topics online,
- Monitor keywords,
- Conduct content research,
- And understand their target market on a broader spectrum.
The purpose is to process these conversations. And develop insights that would help businesses to create winning marketing strategies.
Good listeners make successful leaders. That is an adage that has always proven to be accurate in many instances.
Why Is Social Listening Important for Business?
1. Social Media Listening Helps You Understand Online Trends
The ability to listen to the various conversations online and develop marketing strategies in line with them is a significant step to drive business growth.
Business organizations and brands have long developed various mechanisms to understand market trends:
And this includes observing their business strategies.
However, brands nowadays face a slightly different and more complex proposition as the marketplace has now largely moved online.
Therefore, brands need to focus on understanding the online trends.
And how online users view their products or services.
2. Customer Acquisition
Your social media followers aren’t just your loyal clients.
They love and enjoy your content. These are the exact types of people you should target.
Using social listening, you can discover the kinds of content they consume and share. Plus this gives you an almost accurate data on what type of content to produce that they will consume.
Social media listening helps you discover potential leads by observing what they say online.
- Their questions,
- And worries.
“I love the meatball here,” one says.
“Especially their buffet.”
“Yeah, their buffet is great,” replies another.
“And I’m totally crazy about the wide variety of meals. It’sIt’s the best we have in town.”
Food for thought. Does everyone feel this way about XX restaurant?
How can we make ours better? Best in town?
In this case, social listening provides a firm ground for brands to engage with them – By offering solutions to their queries and suggestions.
It will also attract them to your brand without using any paid Ads.
Plus, you will agree with me that It’s easier to convert such followers into leads and, subsequently, buyers than those who do not talk about or engage with your brand.
3. Developing a Social Media Strategy
So your brand is now officially on social media?
You’ve set up a Linkedin, Twitter, Instagram, Facebook, and TikTok accounts.
Maybe have a few Pinterest pins and boards.
You interact with followers and answer their questions.
Beyond that, what’s your strategy to track and monitor these social engagements?
How do you measure those activities?
Social listening enables business owners to create a robust social media strategy.
It also helps to track and monitor these conversations online so they can stay ahead of their competitors.
The data can further help in making strategic business decisions.
The kind that is customer-oriented, based on their online activities, like:
- Consumer preferences,
- Their feelings,
- Opinions about your products,
- Reviews about competitor products,
- The social media platforms your consumers now use,
- Their demographics,
- Your competitors marketing strategies,
- How do your present and future clients feel about your brand, etc.?
4. Brand Reputation
Your brand reputation plays a crucial role in retaining your current customers.
And also to attract and reach out to potential new ones.
Engagement is excellent—only when it comes to a positive social vibe.
Negative sentiment on the brand can severely affect its reputation and future sales.
Social media listening enables brands to keep track of the various conversations online.
Either about their brand or their competitors.
And track PR nightmares before they happen.
By merely monitoring, a business can observe if the sentiment is way down.
Analyze the causes and make changes right away.
Or by pulling a problematic post, Ad or Tweet and apologizing for it
A strategic social listening approach will reveal vital info. It will also enable business owners to act swiftly and gain control over potential damage to their brand reputation.
5. Measuring the Performance
Apart from helping in developing longer-term social media strategies, the insights gained from social listening can also help in determining the shorter-term business goals.
Through social media listening platforms, businesses can understand their brand sentiment in the market. This information especially vital before, during, and after a product or service launch.
- How are they responding to it?
- What are their complaints?
- What is the acceptance or rejection rate of the product or service?
- What are the reasons which encourage or discourage customers from buying the product?
- Changes in your products or services based on consumer demands.
- Any suggestions or improvements from them?
These are valuable insights that can help gauge the performance of their products and make business decisions accordingly.
It also plays a crucial role in developing a product or service, which could be an enhancement of the current or a new service.
6. Spying on your Competitor
It takes more than just doing good to run a successful business.
Doing good is never enough. You need to observe your competitors and find ways to outsmart them.
Social listening helps you to understand not only what your followers are talking about your brand, but also what they say about your competitors.
It provides insights into why some consumers prefer competitors’ products.
Plus, the different content marketing strategies your competitor are employing.
This is a goldmine, don’t you think?
Imagine having an insight and a more in-depth look into the product or service you offer. And the opportunity to fine-tune it to suit your customers’ preferences?
Social media listening insights relating to the competitors would also help in benchmarking your products and services with those of the customers.
This information would also help devise a better business strategy to outsmart the competition.
7. Identifying Online Influencers
Influencers play a crucial role in influencing the preferences and choices of our customers.
There are various categories of online influencers—each with a considerable following that can determine or alter the success and acceptability of a product.
Most people consider Influencers to be experts in specific product segments.
Each of them tends to be active on specific social media platforms as well.
However, because someone has a huge following doesn’t mean they can sway followers to buy.
Do your due diligence before assuming how influential they might be in the future.
Especially when deciding on whom to reach out to when you’re preparing for a campaign.
Social media listening tools enable you to identify them before reaching out when preparing for an influencer campaign.
You are leaving a lot of data on the table If your brand does not have a social listening strategy.
And we now understand the importance of social listening.
The big question is, “How do you carry out social media listening?”.
What social listening tools do you need?