What is Social Listening, its Significance, and NetBase Quid?
Social listening involves collecting and analyzing consumer information from different social media platforms. Consumer data is important to businesses to enhance their marketing strategies, business, and operational metrics. Brands no longer have to give their followers needless content on social media and expect ecstatic engagement from them.
Social media listening allows you to understand your customers’ needs, what they think and feel about your brand through their online conversations. The trick about listening is doing it in context. This means listening to your consumers’ talk in real-time, pairing the results with information about them, and using opinions to make well-informed decisions.
With the right social media listening tools, it becomes easy to track online conversations from specific business-related terms, phrases, and words and use context to understand what people share on social media about your brand. When done well, social media listening will enable you to develop the right conversations and tones that are likely to resonate with your consumers. It also motivates your team to come up with a strategic decision that will benefit your business.
Understanding Social Listening
There are two processes involved in social media listening.
- Monitoring different social media channels for your brand, products and competitors mentioned, and your business-related keywords.
- Analyzing the data and using what you learn to come up with actionable ways. It can be something small as answering a customer question and comment or something massive like shifting the position of your business.
Most people confuse social media listening and social media monitoring, but they differ in significant ways. Social media monitoring involves looking at different metrics like brand mentions, industry trends, relevant hashtags, and competitor mentions. On the other hand, social media listening looks beyond metrics by considering the mood involved in the data
Importance of Social Listening
Without using social media listening, there are many valuable insights you are leaving behind. You will be missing out on insights about what people are talking about your brand and what they need from your brand. If you desire to be successful in social media marketing and show the potential audience you care about them, you need to look at social media listening insights.
1. Engage with Consumers
Social media listening gives you the privilege of engaging with your customers and knowing their information about your brand. A customer may tweet about how they love your product or reach out to you with inquiries about your brand on any social media channel. How you engage with the customers on their inquiries or comment about your product has significant effects on your company.
2. Helps in Benchmarking
Social media listening helps your team understand how to benchmark against your brand’s competitors. With the available information, your teams have the opportunity of identifying competitors beyond market shares and get insights on the position of your business based on different factors like customer retention and services.
Social media listening will also help you know if you have quality products, are conscious about timely deliveries, and whether you have cost-effective products. Understanding your customer expectations and your business’s weaknesses and strengths will help you know areas that need perfection and develop strategic plans.
3. Helps in Crisis Management
Engagements are good only if they have positive social opinions. Social media listening helps you track real-time social sentiments. This way, you can see which of your brand posts are doing well and those that are not.
Social listening is also important as it helps you handle PR disasters before they escalate. If you are getting minimal engagements, you will find the reasons behind it and use the information to prevent its future occurrence.
Consumer and market intelligence Companies like NetBase Quid are also essential when marketing social media. NetBase Quid is the next-generation platform that offers businesses insights on business trends, engaging with customers, and success in a social media marketing campaign.