Doing business in this digital world means using various platforms to let the world know your brand exists. No longer should you limit yourself to physical shops—instead, go online and use websites, social media, and other digital means of doing business. You should not take this lightly because your customers are more likely to spend most of their time online.
With social media, more people are using their social media accounts to search for products and services they need. That’s why you should also update yourself on what’s happening on social media concerning your business. Do this by monitoring social media, which means tracking and analyzing topics and brand mentions related to your business.
Here’s how you apply social media monitoring to your business:
1. Monitor Brand Mentions
Businesses need an online visibility so they can attract more potential buyers. One way to become popular on social media is when people mention your brand. Social mention is a great way that can help you monitor your business’ visibility and perception. You can categorize these mentions by the nature of the post, the social network, and the social media platform. Do this efficiently using social listening tools as these can help you easily monitor brand mentions across multiple social media platforms.
When you monitor your brand mentions, you know whether your business is being appreciated or badmouthed. If they’re mentioning your brands in a bad light, you may lose potential leads. Of course, you should solve any issues brought up by any negative brand mentions. Analyze why people said negative comments and change them so you won’t disappoint your next customers.
When you make social media marketing campaigns, you need to mold them according to your audience’s criteria. If not, you’re only wasting your marketing efforts and money.
You can make an effective marketing campaign that can attract more leads on social media if you understand your audience. That’s why, before throwing money into your marketing campaign, you should use social media monitoring to your advantage.
By using social media monitoring tools, you can collect and analyze data from social media platforms to personalize your campaign. For instance, you can better understand which areas your customers are coming from, their age, and their preferences in connection with your brand. By knowing these things, you can develop your campaigns suitable for your target audience.
Your marketing campaign last year may be useful, or it may be completely ineffective now. That’s why using social media monitoring tools will help you keep up with the changes so you can better develop or change your campaigns depending on the social media trends.
3. Analyze Competitors
When doing business, you should not only focus on your target audience, but you should also analyze your competitors. Understanding your competitors will help you know where you stand in your niche—whether you have the edge over them or they’re out of your league. If you know your competitors’ strengths and weaknesses, you can learn from such and develop them if necessary.
With social media monitoring tools, it’s possible to track your relevant competitors. You can collect data on how well they’re doing on social media and analyze why they’re doing good. If their strategies are way different from yours, you may either mimic or make them better to improve. As a result, you won’t lose from your competitors and even become better in your industry.
Social listening, or social media monitoring, is essential to growing your business using social media platforms. With brand mentions, you get your clients to talk about your business, and these are free ads. You can even analyze your target market by social media monitoring so you can shape your marketing campaigns according to what will attract them. Besides, you can also use social media monitoring to analyze your competitors so you can be on par with them.
All of these are vital so you can stay in the loop with what’s hot on social media.