How Social Media Listening Can Benefit Business Growth

Social media channels have become part of our everyday lives. Their presence is so intrinsic to us that it is natural to check out brands online before making a purchase. Seeing for ourselves what others have to say about a brand is a form of validating a product’s or service’s quality. That’s just one of the reasons why Social Media Listening is so important for your brand. Understanding what past customers are saying and what future customers are reading is vital to understanding your target demographic’s thoughts about brands, products, and preferences. 

The ideal scenario for a business is finding only exceptional feedback and satisfaction about its product(s), customer service, and brand overall. However, this is not always the case. Keeping up with customers’ feedback should be a top priority. Engaging with clients, being responsive, and demonstrating that you are listening to them is essential to business growth. 

Social Media Listening isn’t just about finding bad reviews to fix; it’s also about understanding what makes your audience like and dislike your brand and product(s), as well as those of your competitors.

What is Social Media Listening?

Social Media Listening is the awareness of conversations around relevant topics and keywords that are happening on social media platforms. . There are many tools to choose from and for all sizes of budgets. Sprout Social, Hubspot, Hootsuite, and Brand24 are some Social Media Listening tools. It’s also possible to do it manually, however, this can be much more time-consuming. Your business will find feedback, leads, related hashtags, and brand mentions by keeping close track of its social media accounts as well as others who are speaking about your brand on their accounts. Once you start monitoring your business data, you should conduct an in-depth analysis to discover new opportunities and craft a plan to act on those opportunities. The outcome might spark ideas for unused services or an update on the product line, as well as changes in customer service and communication techniques with your target audience. You can also use social listening to get a sense of how your brand stacks up against competitors and what challenges you may be solving for consumers that your competitors are not. 

Social Media Listening Benefits

The action of “listening” to what clients have to say online about your business enables you to explore new opportunities and update any part of the customer experience that hasn’t met expectations. These conversations, comments, and reviews provide insightful data about keywords, viral content, competitors, and industry trends, as well as other major points to support your business growth.

Although business growth is likely to be the primary goal, your business should also have some soft goals to achieve along the way. Goals such as: 

1.Crisis Management

“Social Media Listening” can resolve small issues before they turn into major problems. Customers often express their dissatisfaction online to prevent others from facing the same issue, to vent, or to call a brand’s attention to their situation. As long as your business is aware of customer reviews and is ready to answer professionally and helpfully, it is possible to change the course of the conversation to show current customers and prospect ones that your business cares for and listens to its audience.

2.Increasing Content Quality 

Crafting new ideas, campaigns, and general content oftentimes can be challenging. Your business’s social channels should highlight topics that are most interesting to its audience in order to raise engagement, brand loyalty, and sales. Your brand can learn what customers like or dislike and focus on what is most relevant to them by using social media listening tools. 

3.Market Research

Social Media Listening can guide you through upgrading a product or developing a new one. Customer feedback is a powerful business tool due to its candid conversation about a product or service. Client’ conversations can reveal features they would like to have or ones they feel should be removed. Using Social Media Listening tools to pay close attention to what customers share about services and products online for your brand as well as for competitors can lead to a better understanding of opportunities in the market. 

4.Competitor Analysis  

Knowing your competitors is as important as knowing your own business. Successful companies study their relevant market landscape to create a well-structured strategy. Social Media Listening tools aggregate the principal information about your competitor. Key information you can gather from Social Media LIstening includes competitors’ PR activities, campaigns, product positioning, key customers, and conversations about the brand by consumers. 

Social Media Listening is not a one-time task. It requires consistency and practice. Since these tools are often a pricey investment for companies,  having a clear objective will ensure that Social Media Listening guides your business towards growth and explores every benefit that comes with it. Knowing what you are listening to and why will prevent the monitoring process from being confusing and the data to be difficult to understand. Ultimately, these tools are a fascinating way for you to take your marketing and brand to the next level while reaching your customers where they are spending their time. The data can be insightful, surprising, revealing, and ultimately, enlightening when used with careful planning, strategy, and analysis.