Understanding Your Market Through Social Listening

1. UNDERSTANDING YOUR MARKET THROUGH SOCIAL LISTENING SPRINGBORD Since its inception, Social Media has grown leaps and bounds to pervade all aspects of life, both personal and professional. It has evolved to extend its influence on trade and markets. The internet provides an endless supply of convenient platforms for discussions on brands and products. Unlike face to face interactions, they provide the mask of apparent anonymity and provoke unguarded expression of opinions. Social listening is the process of listening in on digital conversations and discussions that are relevant to your brand. It embodies the central principle around which all businesses revolve: understand your target audience and strategize your marketing plan accordingly. Tracking and analyzing what? s being said about your product or your company or even your competitor can be one of the most effective ways to understand your prospects, customers? behavior and needs, ultimately build a successful marketing campaign. As the name suggests, Social Listening is not just passively hearing but actively paying attention and analyzing the information gathered from various online social avenues. Social media platforms such as Facebook and Twitter are the most common sources of data from customers. But other online discussion forums, customer support sites, comments on product reviews, and polls on new products can also be utilized to measure responses. For instance, a Facebook group conversation about a new product can be used to identify successful aspects as well as areas for improvement in the product. This becomes valuable input to troubleshoot problems and improve the product for better sales. Listening to responses to similar products from chief competitors can provide a more comprehensive analysis. Moreover, tracking opinions about new concepts can become the first step in recognizing opportunities for expanding your product line. Once you have recognized the need to listen to social media comments and dialogues, the nest step is to find the best provider of such services. Dynamic Profiling a unique social media monitoring and listening service that can effectively deal with a market in flux. This is an initiative from the Enerji group, a pioneering multinational organization in the realm of data, content, and design. Apart from Social Listening, they also offer Channel Analytics & Social Media Audit, Community Management, and Influencer Management services. As the market advances to new stages at a remarkable pace, you can keep up with the changing demands by acquiring the services of such experts in the industry.