Social media listening is the monitoring and evaluation of conversations and social digital platforms for analytical data regarding products, brands and industries. Individuals, companies and even political parties have used social media listening to further their brands against the competition. It allows them to monitor theirs and the competition’s; enabling the formulation of informed and timely tactical strategies. This not only expands their product or service’s reach but also to gather the response which determines their effectiveness.
What is social media?
means the collective mass of online person to person or group customizable communication platforms. There are hundreds of sites and applications in all digital format of social media platforms on the internet today; some strictly exclusive but most all-inclusive. Companies and their brands can easily stay in direct touch with their target consumers; who express their interest and loyalty. Besides cutting the time to less than half the while it takes with regular visual branding, online social networks have facilitated a marked reduction in marketing spending, which the platforms are also reaping the benefits of. Social media monitors categorize these platforms by their functions and how they reach the target market:
- Social networking sites include; LinkedIn, Facebook and Google+
- Micro blogging sites are; Tumblr and Twitter
- Photo sharing platforms are; Pinterest, Instagram and Snapchat
- Video sharing applications are; Periscope, Facebook Live and YouTube.
How does Social Media Listening help brands?
Social media listening goes beyond topical market research; monitoring engines delves deeper to gather specific data aimed at creating competitive trends for companies and their brands. They offer their customer’s such premium search filters target at their prospects. Insights such as companies’ tech stacks, interests and Information Technology budgets are available to social monitoring tools such as; Brandwatch, Sprinklr, Crimson Hexagon, Like Analyzer, Hootsuite and Howsociable. These allow a brand manager to respond to brand industry conversations on platforms by using tracking and data analytics.
Who is Netbase?
A good example of a social media and monitoring company is the Santa Clara CA based Netbase that analyzes web content and social media. Netbase capitalizes on the application of technologically high precision Natural Language Processing engines to offer timely solutions in social intelligence. This is very crucial for a company’s or individuals’ engagement, monitoring, and analytics and publishing of market aware brands. Netbase’s clientele includes prestigious giants like Hewlett Packard, Coca Cola, Kraft Foods, ESPN and Taco Bell; and their IT spend is projected at $1 Million this year.
Billions of social media posts pass through the internet every hour and extracting customer reliable structured insights is Netbase’s specialization. Their customers are in the fore-front of their industries due to their strategies being crafted in a strategically winning manner. The company was created by two former Ariba engineers, and was initially called Accelovation; the name was slater changed to Netbase in 2008. Their product is globally distributed by JD Power & Accessories and SAP AG.
Social Media Listening strategies:
Besides the above mentioned social media listening strategies of searching or collecting data; social monitoring analyzes the collected data to define a strategy. These strategies determine the effectiveness and relevance of a brand in the market, and amongst others are;
- Identify what the conversation about your brand is, and more importantly from where it’s coming from.
- Learn but don’t copy the competitions strategies.
- Collaborate with industry relevant teams.
- Either change or improve on the brand’s awareness.
- Interpret data to respond efficiently and successfully.
Once they’re given the ability to connect with influencers, companies are able to promote their service profiles and develop a strong network whose results are the amplification of their brand promotion. Social media has transformed into an important marketing strategy to significantly increase your site traffic, business leads and brand sales.