5 Social Media Listening Tips for Retailers

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Competitor-Level Conversations 

Digging up data about your competitors clues you into their overall performance in the market. If Cadbury is the main brand, then it can measure the performance of its competitors like Mars, Hershey and Godiva to analyze their campaigns, mentions, brand presences, engagement levels and other key areas.

Market research has evolved, propelled largely by the development of technology, the proliferation of data and a broader consumer reach. The shift from brick-and-mortar stores to online shops as well as the social media boom has enlarged business' frontiers, literally and figuratively. This shift has also created new ways for brands to identify themselves, position themselves as unique in the market and truly engage with their customers. One could even argue that this new landscape has greatly increased expectations regarding market understanding, customer relations and overall marketing performance.

For a long time, marketers have used primary research – surveys, observations, interviews, etc. – as one of their main ways to keep in touch with customers. Today, marketing analytics adds an even deeper dimension. Social media listening combines technology, data and analytics to become the latest addition to the marketing toolbox. You don't have to ask a single direct question, yet you still get a wealth of rich insights garnered from social-media-listening tools and services. Online users routinely share their independent reviews, their comments and concerns about brands, even their unfiltered experiences. The emerging topics and recurring themes should be of great interest to any marketer.

Marketers love their keywords when it comes to online advertising. In social media listening, keywords again play an important role. Choosing the right keywords can give you remarkably exact data. Once you zero in on the type of keyword – broad ones for your category, precise ones for your brand – you're on your way to social media listening. In this slideshow, Anil Kaul, CEO of Absolutdata, has identified four types of social media conversations and the advantages that come with them.

 

Related Topics : SharePoint, Web Video and Voice Conferencing, UK, MySpace, Intranets

 
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