Social media monitoring? What’s that?

This is the era of social media. There are a number of such social platforms and almost everyone is on has social media monitoring as one of their business goals. If you think that social networks is only used for portraying your social presence and to mingle with your companions and friends, then you need to think twice. Social media is a great way to create awareness about a business, a port or service. It helps new and emerging businesses to target their customers and increase their fan following. Which in the long run helps in increasing the revenue of the company.

So if you think from a business’s perspective, social media is exactly similar to a gold mine. All you need to do is start digging in and reap the benefits from it. Listed below are some of the reasons why you should monitor social media.

1. Check your social media presence – Social media encompasses a number of internet forums, social networking sites, wikis, microblogging sites, content communities, to name a few. And to your amazement, people in U.S. alone spends more than 100 billion minutes on various types of social media in a month. Given the power of social media, you should never overlook its potential. You should make sure that you effectively market your product or company on most platforms. The more presence and reputation you make on the social media front, the more fan following you gather.

social media monitoring2. Track your customers – There are over 2 billion social media users around the globe. But you need to make sure that you are targeting the right customers amongst the lot. You should track those people who you feel are interested in your product or services, and those whom you can look up to as a potential customer. Once you have found your niche customers, you need to gather information about their requirements and needs, so that you can fine tune your products according to the customers’ need. In this way tracking your customers will provide you valuable social media analytics and help you in your future endeavors. Thus social media monitoring will help you zero-in your target customers as well.

3. Reach your prospects – A non-profitable organization can take help of social media to spread awareness about a noble cause, while a businessman can use the same platform to advertise his products. Whatever may be you lookout, social media can prove to be a viable option. Some organizations think that growing customer count is far more important than concentrating on revenue generation. For this case, social media can be very helpful. They help to launch a business by advertising or my merely creating a fan page. Thus social media can cater to every business prospect.

social media monitoring4. Monitor your competition – Social media is known for its transparency. It lets you monitor other peoples’ activities and interests. You can use this feature of social media to your advantage. You can use social media monitoring of the various platforms to track the progress of your competitors to see what sort of marketing they are resorting to? How they are reaching out to their customers? All this vital information once gathered would provide a valuable insight and help you plan your marketing better.

5. Answer to questions and complaints – If you have advertised or even created a page dedicated to your company, eventually people will definitely start following it. They might even start asking queries or put forwards their grievances. They might even write feedback and what they think about your company. But there is no surety that each and every one of these comments would be positive. So you should try to reply back to each and every comment, irrespective of the nature of the feedback. By communicating back, you would be able to bond with your customers directly and also come across some valuable insight for the betterment of your current company prospects.

6. Identify new market opportunities – In social media marketing, opportunities are endless and you should be smart enough to turn each of them into your favor. If you are a company which manufactures sports drinks, you can search for the various gyms present on your locality using social media. Then you can approach each of them and try to advertise your sports drink at the gymnasiums. You can also start a promotional event at these venues, to kick-start selling your products to the newly found gym-goers. Thus social media can showcase limitless opportunities that can be fruitful for you in the future.

7. Gain market insights – Due to globalization. sales of every commodity is interdependent. Popularity or dip in sales of one product is bound to have some impact on other products or services. Hence it is of utmost importance, to get some insight of the current market trends and practices. Social media is one such way of figuring out the current market trends and reciprocating accordingly.

social media monitoring8. Get feedback – Critics are your best friend. They help to point out what is wrong with our products or services. When this feedback is presented to you on social media, there is high probability that it  might be negative or even harsh. But the best way to retaliate to impolite negative comment is to reply politely and mention that their feedback would be taken into consideration to aid other customers in the future.

9. Engage with influencers – Engaging eminent personalities with your product is a great approach for marketing. In your company’s social media updates, you can mention well known personalities who are somehow related to your product. One way to do so is, simply tweet about the achievement of any sports person or actor. In this way all the followers of the personality would be able to view the post which in turn would promote your product to all the followers of that very person.

social media monitoring

10. Building your strategy according to the trend – Let’s assume you are a protein supplement manufacturing company. You must be well aware of the famous bodybuilding competition, Mr. Olympia. As this is the trending topic for discussion now-a-days, you can invest on the hype and advertise your brand among all fitness enthusiast, present on various social media. Thus social media monitoring can be used to your advantage if you adopt the right strategies.