Why Social Listening is Essential to Your Business: NetBase Quid’s Insight

Data analysis has never made sense like in the current generation, where technology has revolutionized doing things. It is almost impossible to think of succeeding in the business world without using the tools of technology. Every firm now understands that building a robust social media reputation and gathering a huge following is crucial for promoting a brand. NetBase Quid focuses on assisting enterprises in accessing data analysis tools and resources to enable them to make decisions and plans to keep them afloat in the stiff competition. Understanding the invaluable role of data as the source of information, Net Base ensures that clients have sufficient and reliable data analysis sources.

The rocky path that businesses walk has increased the need for social media platforms of their brand to assess clients’ and prospects’ conversations. What makes social listening an integral tool in the modern business environment? Continue reading to get an insight.

What is Social Listening?

Social media listening is a two-step process referring to the process of tracking several social media platforms to follow conversations and responses related to your business’s brand. You analyze conversations to establish the opportunities and market gaps to utilize for the benefit of your enterprise. The actions vary from responding to a client to shifting the business’s entire brand if the current one does not meet client needs.

Some people assume that social listening is similar to social media monitoring, but the two concepts differ. While social media monitoring explores metrics such as the rate of client engagement and frequency of mentions, social listening is more intensive because it analyzes data and mood.

Why is Using Social Media Listening Essential to your Business?

Most enterprises fail to meet clients’ needs because they promote their brands based on their assumptions about clients. Instead of increasing the risk of a venture by making decisions based on assumptions, it is essential to get an insight into your clients’ exact needs by listening to what they say and how they express their views. Check out the reasons why social listening is crucial to your venture.

Clients Choose Brands that respond.

The competition is stiff, and you cannot afford to lose or let one client slide-by to your competitor. A Sprout Study reveals that 83% of clients will choose brands that respond to their inquiries and concerns on social media platforms. Following the mentions of clients and responding to them earns you their loyalty. Studies estimate that 48% of clients do business with a brand based on their social media responses.

Helps you to Monitor the Brand’s Growth

One of the most significant limitations of social media platforms and technology is that it can destroy what you have taken years building instantly. For example, scandals and negative reviews have pushed several enterprises out of the market as clients avoid such firms. Social listening enables your business to strive to ensure that harmful and rude comments do not outweigh the positive reviews. While it is not easy to meet 100% of client needs, ensure that the majority of them talk positively about your brand.

Opens New Opportunities

Your clients will often do the homework for you. For example, if you note increasing complaints about a given problem, it means it is affecting more clients. You need to act fast and prevent the problem from pushing clients away from your business. It is worth noting that clients are aware of companies that respond first to their concerns. Once you have fixed the problem, come back and indulge in a conversation to get their reviews about the changes. Complaints serve as an opportunity of strengthening your brand.