Also, known as social media monitoring, this term refers to the practice of identifying all that is being said about a company, brand or its products on various social media platforms on the Internet. Social Media Listening is now being touted as one of the strongest techniques for acquiring customer intelligence. Many e-commerce businesses use a lot of social media to reach out to its customers.
People talk on various forums about general or specific perceptions and experiences about the portal’s brand and services. Social media monitoring can help to gather and interpret this information to help the company make informed decisions.
According to a published report from Exact Target’s 2014 State of Marketing Report, 60% enterprises used social media monitoring techniques the previous year.
The same way as search engines do! The social media monitoring tools are intelligent algorithms that send sniffers crawling through the digital world and mark the sites where they find relevant information. These marked sites can then be searched for keywords or phrases. In fact since the data is quite unstructured and noisy over the internet, these searches can fetch out the relevant data, store the results in a database and then use proven data mining techniques to seek out meaningful information!
The information from the digital media channels can help an e-commerce company understand what the people in general feel about the brand. This information can help you in many ways for your business benefits:
In fact a smart offset of social media listening is that you can listen to your competitor’s customers too! This will give you deep understanding of their strategies and how they are being received by the public. This understanding of their failures and successes will help you assess your market position and help you launch new services and products.
There are a number of social media tools, both free and paid, that are available to help you. Depending upon your specific needs, these can easily be integrated into your business and start to pour out lots of useful data. A taskforce team shall be needed to be set in place to monitor the implementation, drive the monitoring activity, collate the information received and interpret it either directly or by involving experts, and then passing this information to the relevant stakeholders across the company.
With social media having gone viral, social media listening is a powerful tool to give your real-time data and useful information about your company. The information is direct feedback from the grass-root levels, which if organized and interpreted well, can help your e-commerce business. You can connect with leads and strengthen ties with customers using the same social media channels. Hence you can control what is being said about you on the social platforms by taking quick remedial actions that can help to change the perceptions about you. Moreover, you can build better products based on the market expectations and successfully grow your business.