6 Essential Uses for Social Listening

Today’s experience economy is riddled with ever-changing consumer preferences and heightened demands on brands to create genuine and personal experiences.
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With 3.8 billion people actively using social media every day¹, many companies are turning towards social data to keep up with and better understand customers.

Through real-time campaign analysis, trend detection, competitive benchmarking, and consumer insights, learn how social listening and analytics can enable you to improve marketing campaigns and make smarter business decisions.

Plus hear case studies, tips, and best practices on how social media monitoring can deliver impactful business solutions, based on commonly asked questions from clients.

The influencer marketing industry is showing no signs of slowing down. Predicted to be worth up to US $15 billion by 2022², up from $8 billion in 2019, influencer marketing has become a common portion in marketing strategies. It’s no surprise given 63% of consumers trust influencers more than brands

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You see it every day on your Instagram feed and have probably even ran a campaign or a few of your own – influencers posting about products or services they’ve entered a paid partnership with. But with so much influencer activity happening, how can you be sure that your campaign effectively engages your target audience?

With this rapid growth in industry size, comes equally rapid changes in the landscape, channels, and processes in working with influencers, such as Instagram hiding the number of likes on posts. Plus, with so many influencers and additional variables (such as number of followers, category, etc.) to consider how can you best fit their advantages with your marketing resources to create influencer campaigns that delivers both your KPIs and ROI?

Consumer insights are customer truths. From helping to personalize communications, understand customer experiences and unmet customer demands, or competitor analysis, consumer insights can provide a wealth of information, allowing companies to better communicate with customers.

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According to Forrester, insight-driven organizations are growing 8x faster than the global GDP³. In a digital era where consumer trends and preferences are constantly in flux, we can no longer afford to wait months for insights to be delivered through market research.

While often regarded as martech, social listening tools can do more than track campaigns, influencer marketing, and brand health. In fact these tools are used more and more in conjunction with traditional research techniques, making them a key component of modern marketing research, due to its ability to deliver real-time insights in an instant.

Trend analysis is used across practices to predict everything from stock prices to the weather. It helps companies to adapt to market changes and to stay ahead of competitors. But just knowing these trends isn’t enough. Companies need to be able to apply them in order to drive change and innovation.

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Over the years we’ve seen numerous examples of companies who were once industry leaders, such as Nokia, Kodak, and Yahoo, lose their titles due to failure to innovate. While a known fact to CEOs, this is still happening⁴. Although most firms believe they are “picking up on signals of change” that might disrupt their lines of business, 42% admit they’re unable to act upon these signals.

Applying trends to your business doesn’t always need to be in the form of a 360 redesign, but can also be done in incremental changes. From unmet consumer needs and consumer behaviors to competitor activity and market trends, discover 6 usable market trends you can track and apply to ensure your company remains relevant to consumers.

2020 crashed in with an avalanche of regional and global challenges, including Covid-19 and oil-price wars. The drawn-out impact of these events are leading experts to predict the worst economic downturn since the great depression.

To pull past the threat of adversities, companies need to adopt forward-thinking strategies to survive and thrive. Learn how to use Competitive Intelligence (CI) and Market Intelligence (MI) to emerge from trying times with a competitive advantage.

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From understanding your business environment to detecting & mitigating risks, CI allows top executives to have a real-time overview of challenges, advantages, and market gaps so they can make the right strategic choices.

Though CI has long held a reputation of being something only for large enterprises who can afford it, the availability of intelligence tools has allowed data to be democratized to companies of all sizes.

Just like health check-ups, campaign reporting is inevitable. But on the bright side, it allows you to know the state of your health!

These reports and analyses help us learn from our actions so we can improve our future efforts and keep getting better. However, oftentimes with reporting we find ourselves having to prove value instead of adding it.

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Nearly 50% of marketing leaders said they spend more time preparing data for analysis than actually analyzing data. What’s worse is, failure to realize improvements from data will lead 60% of CMOs to slash their marketing analytics departments by 50% in the next few years.

How can you leverage social intelligence to add value to campaign analysis instead of merely proving performance?

Brand reputation is an indicator of how consumers perceive your brand. It encompasses all user interactions and experiences with your brand and is arguably one the most important factors of a company’s success.

Warren Buffet once said ‘It takes 20 years to build a reputation and five minutes to ruin it.’ In the Internet era, it could now take less than five minutes.

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People share thoughts and experiences on social media, review sites, and forums daily, but more than 80% of consumers do not use brand handles or hashtags when talking about them.

Find out how social media listening tools can help your brand stay in the loop of consumer discussions so you can better understand sentiment and perceptions, adjust your brand strategy and take charge of your brand reputation.

Want to learn how to leverage social listening and analytics for your brand, or simply to expand your knowledge about social intelligence?

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What is Digimind?

Digimind’s suite of AI-powered tools give users a powerful, yet easy-to-use means of gathering and analysing consumer and market insights online.

More than social listening, we cover websites, forums, reviews, and offline too.

Supporting collaborative intelligence throughout your company.

Learn from historical trends, to repeat only the desirable outcomes.

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