Tuesday, September 29, 2020
Brand Monitoring

Why Brands Need a Social Media Monitoring Strategy

Everyday, people have something to say about the brands they purchase from or follow.

While not every single word gets to be voiced out, relevant statements are often released on social media to either reach out to these brands or just simply to voice out their praise or frustration over certain products and services.

The question is, are brands monitoring it?

Well, they might be but there’s only so much that they need to do on top of actual marketing and operations.

Considering that there are tons of social media platforms out there, it can be pretty hard to narrow down what customers have to say about brands.

This is why it’s highly practical and important for brands to establish a social media monitoring strategy to listen in on the most important things customers have to say. After all, brands survive on happy and satisfied customers right?

Here’s why brands need a social media monitoring strategy and everything that comes with it.

What is Social Media Monitoring?

In the simplest of terms, Social Media Monitoring (SMM) is just the process of using tools to determine what customers have to say about brands across the internet.

This process goes over different websites and not just popular social media platforms⁠—blog sites, news sites, communities, forums, etc. SMM also goes by the names social listening, social media measurement, social media management, etc.

However, SMM doesn’t just end with finding everything people say about brands, it’s also responding to any engagement around those statements.

How It Works

Tools are utilized to continuously crawl and index websites at different times, depending on what kind of website it is. For platforms like Twitter, crawling and indexing are done real time. But for blogs, forums, etc., the time varies.

After all potential websites are recorded and indexed, they’re now filtered to find relevant information such as mentions, statements, or opinions about different brands.

The information collected from these indexed sites is then analyzed and interpreted to become useful to brands. These pieces of information can help brands make critical decisions and give them advantages when it comes to meeting customer needs.

Here are some of the different social media tools you can use  for social media monitoring

#1. Mention –   Mention.com  performs brand monitoring not only on social media but also on blogs and forums.

#2. Socialert – If you want to track branded hashtag and analyze them to find influencers and key users socialert can help a lot.

#3. BuzzSumo –  If you need to track how your content is performing. Who are key people sharing the content? buzzsumo can help a lot.

Why Brands Need It

The data that comes from social media monitoring is highly useful and offers a lot of advantages if brands use it right. On top of that, here are several reasons why brands need it.

Organized and Sorted Data

With so many sites to index, the amount of information can be overwhelming. Moreover, not everything that’s indexed will be relevant and useful information. Without a SMM strategy, sorting through unimportant information can be costly.

The SMM strategy will help brands sift through tons of information and isolate ones that they deem useful.

No time will be wasted going through thousands of different information when you can all have them in a neat and organized manner. This will also be key in having a faster response rate that might prevent any PR disasters.

The data can be used to identify information relevant to product development and improvement. If people keep complaining on social media about your products, at least get it in a very organized manner so that you can make a comprehensive report about it.

Better Customer Engagement

Let’s face it, customers either make their sentiments public when they’re either too excited or too frustrated about a brand⁠—there’s hardly no in-betweens. They either did it to spread awareness or to reach the brand itself.

Regardless of their intention, the burden now falls onto the brand. How do brands respond to these statements?

Without an SMM strategy, there’s no doubt that tracking these kinds of statements will take up crucial time. If brands want to be as responsive as possible, a strategy needs to be set in place.

It’s not just about taking into account what customers have said, it’s also about what actions were taken and how promptly the brand responded. When customers see quality and prompt responses from brands, there’s no doubt that customers feel valued and heard.

Here is an example from nike where they responded promptly

Discover Market Opportunities

An SMM strategy can also be used to discover market opportunities that aren’t as visible as you’d expect them to be. When monitoring different websites, brands can discover inspiration for new products or opportunities that appeal to their target market.

This is not just applicable to product development and improvement, but also for how these brands can improve their customer engagement and services.

By also monitoring conversations around different brands, rising and falling trends can easily be identified. Brands might also discover relevant influencers that can be useful to them in the future.

Buzzsumo can help you find influencers. you just need to search with some industry-specific keywords like below

New customers can also be discovered. A SMM strategy can be useful in the lead generation which makes it easier to find what keywords and phrases are attractive to different target markets. In short, SMM might just expand your market.

You can perform social media monitoring to get more leads in the following way

#1.  Track your competitors and industry-specific keywords on twitter to find some of the prospective audiences.

#2. By adding words like “recommend”, “buy”, “looking for”, etc. with industry and product-related keywords, you can certainly find some prospects.

#3.  Additionally, if you wish to identify the unhappy customers of your competitors, then use words like “problem”, “issues”, “need”, etc.      with their brand keywords. After identifying their unhappy customers, you can reach out to them and steal them from your competitors.

Benchmarking

It’s quite common among brands that utilize SMM strategies to also see this as part of their benchmarking efforts. Keeping a close eye on what customers have to say about competitors gives brands the idea of where they stand in the market.

Not only that, they can also check on how they can still improve their brand in comparison to their competitors. Listening in on what people have to say about competitors will give them an idea of what customers like and don’t like and can adjust their internal strategies as well.

Brands can analyze competitor social media accounts and branded hashtag campaigns to get an idea about their marketing strategy.

Takeaway

Social Media Monitoring is one of the easiest ways to gather relevant data that will be useful to a brand. However, without a strategy, this might just be a useless tool that will bring more harm than good.

Having a great SMM strategy in place brings a lot of opportunities such as better customer engagement, the discovery of market opportunities, and benchmarking. If utilized correctly, customers will be even more satisfied and the brand can become more competitive.

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