In the era of trigger happy tweets and instant gratification, the need for you to know what is being spoken about your business is very critical. Social listening is the process of monitoring digital conversations to understand what customers are saying about a brand and industry online. Marketing teams primarily use social listening as a tool for community management, such as identifying customer pain points and providing direct consumer response to questions, complaints, and comments. It is also used to surface feedback that could help to differentiate their brand, product, or service.
Social listening allows your team the competitive advantage to know what is being spoken about your brand and take necessary corrective actions and also one can develop programs to hear on the share of voice (SoV) for a particular product or service across different brands to provide a competitive landscape of where one features in relation with one’s competition.
Traditionally there has been a misconception that the social listening = social monitoring. Social listening is in fact much more than social monitoring. Social listening goes beyond monitoring and replying to incoming questions or comments about your brand. It’s about extracting key insights from social conversations that you can apply to your overall strategy.
We all have heard of that firm, whose Social media channel has made an error in judgement by sending out an inappropriate message which has caused the damage control team sleepless night. It is funny as long as you are not directly affected. It becomes extremely frustrating and annoying if you are responsible for the communication which goes out from your firm.
As social faux pas can cause sever irreversible damage to the image of the company, this can be in the form of loss of brand equity and sometimes severe financial penalties as well. According to a 2013 Grant Thornton study, while 71% of businesses are concerned about the potential risks of social media, only 36% engage in social media training and 33% have clearly defined social media policies. That doesn’t sound like the majority of companies are navigating the social media seas very safely; it sounds like they’re barely keeping their heads above water. For businesses on social, the risk of just keeping their heads above water could be detrimental. Think of how much water is being swallowed, how much is seeping into their lungs and how far adrift they are from their customers – the people with whom they need to be engaging consistently.
Comprehensive social governance gives brands the opportunity to become an Olympic swimmer, cruising through the water so quickly, risk doesn’t stand a chance of slowing them down – and neither do their competitors.
You want to be the Olympic swimmer? Of course you do… we will be glad to get you started for swimming like a champ in the social sea