With the explosion of information exchange on social media sites like Facebook, Twitter, Yelp and others, the need for social media monitoring becomes even more pressing. The practice is based on the principle that people, products, brands and services are being discussed online. It could be an experience being described on a blog or a remark on service on a micro-blogging site or it could be a page created for any of the ideas previously mentioned, on the popular Facebook.
Importance of Social Media Monitoring
This kind of keeping tabs is imperative because knowing what people are saying will help you do many things:
Product placement: Knowing what people think about your product or service will give you clarity on how to place it better. This could be a simple shifting of the shelves you place your product in or to more serious stuff like the company you partner with.
Plan marketing strategies: Not just marketing but branding also could undergo a sea-change once you know what people are saying about you. For instance, if the image of your brand or service is negative and unapproachable then you need to set about changing that at once.
Forge stronger relationships with customers: Since feedback is in real time it becomes easier to address issues with customer and understand their feedback, good or bad, to create goodwill and a great reputation. Customers will surely react positively to a business that puts its customers first. Once you understand feedback better then you can deliver better products/services with the customers’ unique needs in mind.
Your own weather vane: Social media monitoring can put you in the know of things if trouble is brewing for your business. This will let you anticipate expectations and work toward fulfilling them even before such a need may arise.
Make crucial decisions: Social media marketing will let you understand whether it is time to change the way you do business. Crucial decisions on expansion of line, deals and strategies can be taken with confidence now because there is the backing of solid evidence. This will ensure that your company always stays ahead of the competition.
Know your competition: Monitoring will also throw up news about your competitors and other players on the market. This means added understanding of how to differentiate yourself and your product from the others and offer something unique and long lasting.
Thus social media monitoring is essential to understand the dynamic nature of the internet and to make sense of all the conversations and their content that form our communication with others on a daily basis.
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