Social media monitoring in the general sense refers to the method of utilizing of various devices to pay attention to what is the topic being discussed over the internet and monitoring and controlling media not only from the conventional publishers but on a million of different social networking sites. The practice of social media monitoring is at times also called or related to the terms social listening, buzz analysis, online analytics, social media intelligence, social media measurement or even social media management and the list can go on.
Reasons for Social Media Monitoring
Social media monitoring or social media analytics were previously applied in quintessential sector of companies such as the finance or retail industries who used social media monitoring and scraping to make sure to create brand awareness, improvement of customer services, marketing planning along with the detection and recognition’s of fraudulent. Apart from the mentioned reasons there are a few more causes which gets benefited through the social media monitoring which includes:
Measurement of Customer Sentiment
Social media monitoring helps an organisation to know about the position they hold in the social space and also gives a reality check. Through study of the social media one can assess the outlook of the customers regarding a particular product or topic and the viewpoint about the company as a whole by the measurement of their emotions, tone and context. Keeping a track of the customer reviews help the company to grow and maintain customer satisfaction, loyalty of the customers regarding the particular brands as well as their purpose of relation which would further help in the marketing of the campaigns at present and also in the future.
Segmentation of the Selected Market
The selected market refers to the bunch of customers which includes organisations, individuals or even households for which a particular company or organisation make designs, execute and preserve the mix of marketing procedures which suits the requirements and fondness of that particular bunch. Organisation and assessing the data-set of social media platform makes a person aware of when and to whom the marketing should be done regarding their services or products. Recognition of more suitable market field helps in the increment of the return on investment.
Monitoring of the online branding doesn’t only refer to paying attention to what the customers have to say regarding the particular products and services of the company but also keeping a check on the various competitors in the field, the press and print media monitoring along with the say of the key opinion leader of the industry. It is not only concerned about just the products of a company but also their customer service management procedure, social engagement, etc.
Recognition of Market Trends
Recognition of the various trends in the existing market is important to modify the business planning, keeping the business in the similar rate with the forthcoming changes in directions in the particular industry.
Other than the instinctive internet scraping devices, in the present times a lot of social media channels provide reimburse application program interface to its customers, research individuals, academia and particular organisations such as Facebook and Twitter in the social networking domain.