What is Brand Monitoring and How it Can Help Your Business
Brand monitoring is an essential component for any sized business. It is the key to staying in tune with the business’s reputation by monitoring and continuously catching up on what is being said about the brand. This is especially important because it provides insight into what people think, potentially find new customers to engage with, and gives a competitive advantage by being able to tap into what people are saying about the competitors. If you are not currently doing this, it’s time to re-evaluate your business and include brand monitoring and social listening as part of your online marketing strategies.
Since brand monitoring is not merely just one social media platform, it can be tricky to keep track of it all. To fully understand the impact this business technique has, here is a more in-depth look at how brand monitoring works and the positive benefits it produces.
What to Monitor on Social Media?
For basic brand monitoring using social listening tools, the biggest thing to look for is branded keywords, such as your business name and the name of your products or services. You can also cover your basis by adding in typical misspellings of your brand name that might come up on website platforms. If you are researching on a social media site, then do not forget about the hashtags as well. During this process, make sure to monitor as many places as you possibly can to obtain the most accurate overall results.
Brand Monitoring Tools For Your Business
Because this is such a significant component of business success, it may be a wise move to invest in a brand monitoring tool to help with the process. Some tools that are available for use include Google Alerts, Ahrefs, and Band watch Analytics.
Competitor and Consumer Reactions
As mentioned before, one of the top benefits businesses can gain from brand monitoring is being able to see how your competitors are doing. This allows business owners to stay ahead of the competition proactively. Also, business owners will be able to see and react appropriately to consumer feedback, which is typically expressed on social media sites and forums. If a recent media buying campaign is launched using billboards, print, radio, or TV, and the public backlashes on social media, you need to be aware of this. A recent example is the social media backlash that happened with Peloton.
Implementing Better Marketing Strategies
Brand monitoring is a great tool to help with implementing advanced and more targeted marketing approaches. During the monitoring process, analyzing the data could show a new group of potential customers that may be a perfect demographic. Business owners will be able to gather information on what types of marketing techniques are working better than others and work on the parts that have the lowest reviews. For example, if there is both a billboard and commercial marketing the same product and the commercial is talked about more often and positively, then creating another commercial may be the next best marketing strategy.
Why Should You Monitor Your Brand?
Brand monitoring is an excellent way to keep businesses up-to-date on the latest data involving feedback and concerns about the product or service being offered. This will help with marketing efforts, improve customer service, and will allow you to come up with product/service improvements when working with a media buying agency, or marketing team. Businesses of all sizes should be aware of what is being said about them. Whether you decide to use a brand monitoring tool, or take the task on yourself, make sure to implement this into your business rhythm to gain the full benefits this method has to offer.