NetBase: A Look at Social Listening and Its Importance in Brand Development
Social listening refers to the technique of monitoring various digital conversations in order to understand the opinion of consumers regarding a brand or an industry. Marketing teams apply this strategy in community management including identifying major pain points in the consumer industry as well as providing a direct response to complaints, comments, as well as questions. Social listening is also used to garner feedback that may assist brand managers in differentiating their products. In its simplest form, social listening can successfully search publicly indexable properties for substantial mentions.
Who Should Implement This Marketing Strategy?
As digital marketing platforms continue to thrive, there are multiple ways for consumers to share their insight regarding experience. This may be directly or indirectly. Social listening helps a marketing team to prioritize as well as evaluate consumer feedback. The information may be used to design an appealing offering in two primary forms namely product and service. It can also be used to create valuable content and advertisement. Social media listening helps to monitor specific conversations regarding a brand or an industry. Nonetheless, it doesn’t offer insight into the impact of a marketing strategy. Companies that are interested in tracking the impact of their marketing strategies across 10 different online platforms can use social listening.
Benefits of Using Social Media Listening
- Customers Shop from Brands that Respond
Consumers aspire to be heard online. In research by NetBase, about 70% of respondents like when a brand responds to their questions. Others like when companies answer questions. The remaining consumers like when marketing teams join conversations. A responsive brand on social media is in a position to garner feedback regarding a brand. It can also craft an invaluable response for its customers. Such interventions will enhance brand loyalty besides increasing the rate of customer retention.
- Increasing Customer Acquisition and Retention
Social media offers many opportunities that can help to reach prospects. Besides, followers aren’t just loyal consumers. They are also individuals who enjoy the content a brand creates. These individuals should be targeted.
- Tracking a Brand’s Growth and Development
A brand may face serious allegations. One incident may cause negativity. Negative remarks from consumers may plague the social media platform. It’s easy for a brand to ignore rude comments. However, negative remarks can outweigh the positive. This is the perfect time to utilize social media listening. A company can analyze the incident by researching to establish if the negative comments can interfere with the number of followers or sales. The marketing team can use any other metric to assess the growth of a brand. From the result, one can determine whether a serious measure should be taken to respond to consumers.
- Discovering New Opportunities
All too often, consumers will do the work for a brand. When clients start complaining about a particular problem, it’s a significant sign that something should be noted. Instead of monitoring the transitions, an individual can apply social listening to discover innovative ways through which changes can be implemented. For example, an individual who works for a retail store can share their frustration about the type of services provided. There is a chance to open a store and offer better services.
NetBase offers social media analytics solutions. The company provides a social media platform that helps brands to process social media posts for actionable business insight including marketing, research, and customer service. NetBase provides The NetBase LIVE Product Suite to offer visibility into the online movement and presence of brands. The company offers solutions in social TV analytics and marketing campaign. The advanced Natural Language Processing system enables companies to understand complex language in order to ensure that businesses are making viable decisions.