What is Brand Monitoring and it’ s relation to business success.
Brand monitoring allows you to do market research and makes sure your brand stays relevant and popular with its target audience. The users will tell you what they want and compare you to your competitors.
Using platforms like Tailor brands may boost your popularity and make you achieve your dreams.
This information is important because it shapes your marketing strategies. In e-commerce software or business, customer reviews matter a lot. This is ultra important if the business is sliding toward the path of success.
You should always be aware of all the necessary topics and conversations happening around digital platforms and reply to them. The point of view and opinions of your customers should always be of your interest.
You should always make it essential to check on what people have to say because your customers are as essential to your business as any other organization’s members.
The information you learn is very important because it saves you from a major fear of missing out(FOMO).
Brand monitoring is tracked through specific keywords that are known and unique for every single business.
This can also be done on websites. It’s also known as web monitoring. It helps businesses to manage their web pages and aids them in attracting new customers and retaining existing ones.
If properly managed, a good monitoring tool will be able to collect that from every corner of the web. This comprises checking blogs, web pages, and social media applications through hashtags and many other ways.
How brand monitoring benefits your business.
Brand monitoring has several ways that assist to make your business stay on top. Some of the ways are discussed below:
1.Helps maintain your company’s reputation digitally.
Brand tracking will help others appreciate your brand. An evaluation of the emotions explores the particular vocabulary of your brand commentary which makes you realize if you have positive or negative feelings towards the brand.
This makes it possible to read across the lines and see how people respond to tweets, campaigns, and or your brand.
Tools such as Sprout Social monitoring allow you to have a thorough feeling study. The tool incorporates feedback and sentiments that help you create a random of emotions building around your brand.
2.Crisis prevention and credibility.
When you are monitoring your brand, you get the opportunity to keep a high profile about your brand and you can deal with consumer complaints on time and solve them.
Getting the opportunity to hear online reports, suggestions, and mechanisms online helps you to fix and manage these challenges and boost consumer interest in your brand.
It makes customers know that you are interested in what they have to say about your brand. Your reputation is the key to brand value.
3.Helps you establish two paths for contact.
When your audience is public, it wants to hear the feedback or suggestions that make it know that you are listening actively to what they have to say.
It makes the audience know that you can answer questions and help consumers quickly when the need arises.
When you lose the opportunity to answer questions or criticism, it makes your audience feel like your brand is not available and that is not good for your business’s upward trajectory.
4.Improves your marketing impact.
As a marketer, you need to be more relevant and targeted. Customer information is the key to this situation.
You need to know the demographics, intent, sentiments, likes, and dislikes which makes you more personal with your clients. Here are some specific ways that help you maximize your marketing efforts:
-Listen to your customers -you need to listen to your customers’ discussions attentively and get to understand what it is that they want. That way you get to make them friends and bring the relationship closer.
-Know who your customers are-it becomes very difficult to target your audience if you don’t know who the target is. You need to find the target customers by looking at their demographics based on their discussions around your brand. That way you get to understand them and know the way to approach them.
-Go where your customers are– you need to know how to pick the right channels that can reach your customers. By monitoring their conversations around your brand, you get to learn which platforms your customers mostly engage in and that should be where your investment should be to get them to read about what you have to offer.
-Monitor market trends-you need to also keep track of your competitors’ trends to know how best to strategize. You have to monitor both your mentions and the mentions of your competitors to know how effective your marketing is performing.
-Track campaign impact– to make this successful, you need to know how your brand was performing before you began the campaign and then track how it began performing after you began your campaign. That way you will get to understand the impact the campaign has on your brand.
-Find influencers-you can also reach out to top influencers who have a history in the brand and make them talk about your brand. This also helps maximize the reach of your campaign.
Keywords to be monitored in this aspect.
-You monitor your brand or service name; for example Apple,iPhone, Macbook, Genius Bar.
-You also monitor variations and common misspellings.
-You monitor industry-specific keywords.
-You pay attention to competitors’ names and products.
-You also look out for campaign names and keywords.
5.It makes customers satisfied.
In this digital world, customers no longer just sit back and wait for products to be made for them. They normally want to have a say in the products that they want.
They will therefore not just sit there settled but make choices based on the available options. They read and write online reviews and in that way, they speak their minds.
This allows you to learn from them. This is the best way that your product team can benefit from monitoring:
-Keep track of product and feature requests-you need to get involved with the customers to get their insights and make product development strategies that are in line with what they want. You can only get this through their reviews.
-Monitor live feedback-you need to measure the reach of your audience and also find out how they are reacting to your brand. You need to measure the performance of your launch.
-Benchmark against your competitors’ products-you have to find out how your competitors are doing and the strategies that they are using to beat them. You should know what the audience has to say about your competitors and know how to work from there.
-Monitor specific demographics-you need to know so much about your audience. I, for instance, your market spans multiple languages or countries, you have to filter mentions by language and country to localize your product and make all the customers feel included.
Keywords to be monitored in this program
-Brand and product name.
-Product launch name.
-Competitors’ product names.
-Feature names.
-Product functions such as voice recognition or globalization
6.Improves your customer support and retention.
When you listen to your customer, improve the retention level. When you listen to and support your customers, they feel valued and this makes them more inclined toward retaining you as their product supplier.
This can be achieved by the brand monitoring tool. This tool can help your customer support or community monitoring team in the following ways:
-Trafficking social support inquiries-many customers turn to social media for support. If this support is provided, the customers don’t feel left out and this helps to retain them.
-Monitor social media channels from one place-given that most brands use multiple social media channels, it is advisable for businesses with a small team you manage their social media activities using one channel. The tool helps you to monitor all the activities that are going on from one place.
-Collaborate effectively-this tool offers team collaboration features that help you such that you just need to assign the best person that a query mentioned and it’s answered effectively. This ensures that the responses are quick.
-Evaluate customer satisfaction-you ought to get a general idea of how your customers are feeling about your brand and products based on sentiment analysis. The tool helps you track that down.
-Identify at-risk customers-there is a need to identify customers who feel unhappy with your way of conducting business or your brand in general. The earlier you identify and deal with them, the better for your business because you avoid losing customers.
Keywords to monitor here.
-Product and brand name.
-Variations and common misspellings.
-Product|brand name issues or problems.
-Industry-specific keywords.
7.It increases sales.
Brand monitoring can be used to generate leads and speed up closing in the following ways:
-Identify sales opportunities-people mostly discuss a product. online before buying it. Profiling those discussions makes you capitalize on sales opportunities.
-Connect and engage with customers-this happens when you offer valuable information and solutions to problems when a customer is in need before purchase. It helps close the deal.
-Find potential resellers-when you research resellers for your product, it enables you to find what relevant conversations pop up online about your brand.
-Convert competitors’ customers-if you monitor brands about your competitors online, you will probably come across your competitor’s unhappy customers and you can convert them because you can strategize and make them like your brand and buy from you. You just need to monitor their discussions and engage them when the right opportunity arises.
Keywords to monitor here
-Product and brand name.
-Competitor name+alternative.
-Competitor name +problem.
-Industry-specific keywords.
8.It helps in leading-level strategy.
You can monitor your overall brand performance or industry trends and use the data collected to make informed decisions about your business. Here are some of the ways that you can leverage monitoring your brand to guide you in making strategic decisions:
-Monitor brand reputation -when you have a clear idea of how people perceive your brand, you are most likely going to keep an eye on how it’s trending and look out for online crises that may occur.
-Track industry trends-you can discover what’s new and that can help you benchmark your brand against your competitors.
-Improve team communication-there are collaboration features that help you to track down how your team is working as a community toward achieving the set goals.
-Measure performance-you can evaluate marketing and PR campaign impact or customer support efficiency. This way you get to understand how your business is working in general.
9.It opened up lines of communication.
Brand monitoring not only helps you track and analyze how your business is performing, but it also allows you to open lines of communication between you and your customers.
It makes you visibly present to your customers and this ignites a feeling of belonging. The customers feel that you are there to address their problems and that makes them more attached to you and your brand.
Communication plays a very crucial role in building a relationship with your customers and it makes you establish your brand as a customer-centric business that actively listens to customers and cares about what they think about your brand.
SUMMARY
To survive in this digital world, your brand must have a good image for it to survive. The competition is very intense and you need to grasp every opportunity that presents itself to edge your competitors out. Reputation is everything that a brand needs, especially if you are in the online business.
A positive reputation builds the image of your brand and makes it successful. A negative reputation, on the other hand, leaves a sticky footprint that can take a long time to clean. You should focus on building a positive impression to sustain and get new customers.
With the advent of various internet technologies, people now talk about brands more than ever.
You need to take advantage of internet technologies because brand monitoring plays a commanding role in finding out how people feel about your brand. It helps you understand people’s perceptions and collect their insights.
The primary goal of brand monitoring is to provide an in-depth analysis of where and when discussions are taking place on various forms of social media and to know how the sentiments can be addressed to improve your brand’s health.
