Why You Need to Listen and Monitor Social Media Conversations

28 Nov

It’s not news that customers seek out recommendations for products from their network of friends, family and colleagues. We ask for the opinions from those we trust.  Social Media is where much of the sharing of opinions takes place today.  By listening and monitoring social media conversations a company can find out how it’s doing and what’s being said about the company and its products.

Benefits of Listening and Monitoring Social Media 

1.  Find Your Advocates.  Learn who really likes your company and product.  When you find them, see if you can create a two-way dialogue.  This will give you the opportunity to learn more about what customers think of your company and product.  Once you have established a relationship, you may find that some advocates are willing to provide customer testimonials you can use on other Social Media platforms and marketing activities.

2. Find New Customers and Product Ideas.  Listening provides the opportunity to uncover prospective customer needs, creates new product opportunities and may result in more and better product ideas and requirements, faster time to market and lower product costs. (read my previous blog, Using Social Media to Generate New Product Ideas and Innovations).

3. Learn What is Being Said About You.  Learn what is being said about your company and product and where it is being said.  This not only provides the opportunities to find out what customers think about your product (positive and negative), you have the opportunity to take action to improve your business. Comments may help  your company decide to add a new marketing promotion for a specific product to increase sales activities or may provide insights into poor performance resulting in a product or customer service change.

4.  Learn More About Competitors.  Just as you are able to learn what is being said about your company and products, you can also learn how your competition is doing. Share this information with the appropriate departments within your organization and take action as needed.

5.  Create the Desired Results. Did the actions you took create the results you planned?  Are you doing the right things in the right places?  Qualifying and quantifying how well your Social Media activities are performing will help ensure funding and allow you to make adjustments to your social media plan to meet your goals.

Software Tools Available to Listen and Monitor Social Media Platforms

To fully realize the benefits of participating in Social Media you must listen, monitor and engage with customers.  In marketingviewpoint’s next blog, we’ll look at one of the new Social Media software tools that are available to help companies do that easily and effectively.

Additional Resources
Finding Your Way Through the Social Media Maze, White Paper 

 

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