Market research is fundamental to starting a new business, expanding into another market, diversifying the service offerings, brand building, and marketing, as well as online reputation management. As a brand looking to expand its presence or manage its online reputation, social listening and market response management play a vital role. The only way you can get your brand to people is by knowing what they expect from your brand.
In this post, we’re going to cover how social listening helps in industry research.
1. Deep dive into your content strategy
Every brand needs to know its ideal customer. By keeping track of what people say about your industry and competitors, social listening will help you make sense of all the data on your dashboard. Additionally, you gain deep insights into how your brand is perceived by prospects and consumers.
With social listening, you can find the type of content that resonates with your market and also achieve some of the following –
- Segment your audience based on their location, interests, keywords, language, and other demographics.
- Narrow down your content plan to specific topics that are trending.
- Specify your brand’s research parameters and performance metrics.
- Find out the customer sentiment revolving around your brand, its products, and services.
- Perform competitor analysis for better campaign results.
For both start-ups and established brands, social listening offers a deep dive into the buyer persona and market movement, thus aligning your branding strategy for better results.
2. Understanding customer sentiment
People on social media like to talk about their experiences with a brand. There’s no better way to understand customer sentiment than social listening. Their reviews offer a clear understanding of your brand’s position, reputation, and credibility.
You learn about their motive for interacting with your branded content. You can also outline their pain points to refine your content marketing strategy. One effective method to study customer sentiment is by tracking brand mentions.
Whenever somebody mentions your brand on social media, blogs, forums, and the rest of the internet, you will get notified. That way, you gain powerful real-time insights into your brand’s performance in the market.
Social listening thus helps brands identify a crisis and respond quickly to protect their reputation. Thus, you can fine-tune aspects of your brand’s offerings to suit customer sentiment and demand.
- 3. Measuring campaign performance
Especially when exploring multiple channels for online advertising, you need to know the campaign performance.
Social media platforms like Facebook and YouTube offer detailed insights into the performance of your content. Google Ads also provides a clear outline of your ad performance. What if you could bring them all into one centralized platform for all your online campaigns? That’s where social listening tools like Konnect Insights come in handy.
By analyzing campaign performances on a centralized dashboard, you can make timely decisions to refine your strategy across multiple channels. By tracking changes in the volume of your brand mentions online, you can position your campaign for better results. Based on the engagement of your ad campaign or social media post, you can fine-tune elements like keywords, demographics and campaign duration to gather improved results.
Backed by incisive data, social listening can help you understand the differences between various approaches to online marketing. Thus, you can create a winning campaign that generates more interest in the market.
- 4. Competitor analysis
Social listening offers an opportunity to gather data directly from customers and understand their engagement with a brand. Hence, a brand can compare campaigns and narrow down the focus to specific topics, keywords or audiences.
While you explore your brand’s performance in the market, you should keep a keen eye on competitors. Competitor analysis can give you insights to gain an advantage in the market. You can find honest opinions about your competition on social media and forums. You can learn from the type of blogs and videos that generate the most engagement. You can then apply a consolidated plan to make your marketing campaign more effective.
For example, learning why your competitor spends more on video ads could prompt you to explore that avenue for increased engagement. From font choice, colors, and engagement activity, you can gain a broader picture of the industry and customer expectations.
- 5. Fresh ideas for communication and campaigns
The best part of social listening is the competitive advantage gained by finding out what’s trending, what’s performing, and what’s hot on various online channels. Once you have a clear idea of the market trends, you can draft content that inspires people.
It’s important to stay relevant and social listening gives brands a clear advantage to maintain their position in the industry. With billions of websites, social media posts, and images, you need your brand to stand out.
Creating original, fresh content is one way to ensure repeat visits and more engagement. By leveraging social listening, you can come up with innovative ideas that create an instant impact on consumers. Additionally, you will always be aware of their interests and what can be done to increase the consumer share in your brand venture.
After all, brand reach and brand value lead to increased brand influence. The more you understand the market, the better you can position your brand for the best results.
Wrapping up
For the ideal campaign idea, performance analysis, and execution, you need the best tools at your disposal to make your research yield the right results.
Konnect Insights is a powerful social listening and customer experience management suite with in-depth data analytics about your brand presence online. You can pick up on any conversation across the internet related to your brand and its offerings or competitors. Leveraging the power of customers’ conversation data, the catchy dashboard offers insights into your brand’s positioning, reputation, influence, engagement, campaign performance, and also your brand’s customer response management.
Tags: Customer Service, Listening Tool, Market Research, Social Listening, Social Listening Tools