More About Social Media Monitoring
Imagine if you could listen in on your audience on social media and tweak your strategies according to what they are saying.
Here’s where social media monitoring comes into play. The results of this process enable brands, businesses, and service providers to get customer and competitor insights to benchmark and improve their products, designs, features, and marketing strategies.
Any big or small organization, individual, or business can use social media monitoring techniques. According to a report, the global online media analytics market may grow to 15.6 billion USD by 2026.
So, what is social media monitoring?
It is the practice of monitoring and tracking trends, campaigns, and overall presence on social media platforms by analyzing relevant conversations, getting insights, and monitoring mentions and interactions around a brand, product, or topic.
For businesses and other users, the process helps with reputation and crisis management. It also helps to improve customer service and satisfaction as well as lead generation and conversions to sales.
Also, as a brand, you can more effectively identify influential users and thought leaders in your niche for better collaborations, brand awareness, and reach.
While the monitoring can be done manually by tracking keywords and hashtags, this can prove time-consuming and tedious. There are several social monitoring tools and software, such as Google Alerts, that can automate the process.
Social media monitoring is thus a technique that provides you with data, metrics, and analytics, along with inspiration and ideas to enhance and improve various areas of social media marketing. Using this technique, one can determine the following:
- Social share of voice: It tells you what part of the relevant conversations and engagement online is about your profile or your brand.
- Social sentiment: It allows you to track the mood of the audience or the general reception of the brand and enables you to manage and build a good image among your audience.
- Competitor performance: It explains how your competitors are faring by analyzing their business tactics and strategies. You can use the insights to stay on top of trends and stay ahead of the competition.
- Trends: It briefs you on what your potential customers are discussing and are interested in. It also informs you of the trending hashtags and keywords on different platforms relevant to your niche.
- Social ROI: It presents the bottom line, i.e., the results delivered and the pay-off against your dollar investment in social media marketing strategies.
The following image shows the dashboard of the SocialPilot Social Inbox feature that helps track brand mentions and interactions across platforms for social media monitoring.