Does my company need media monitoring, you may ask?
Well, in short, yes, it does.
And here’s why.
Media monitoring can provide you with valuable information to help you make decisions. Media monitoring has you covered from competitors to industry trends and crisis management!
💡 Read Media Monitoring: The Ultimate Guide
Also, it’s not only useful for PR professionals and marketers; multiple departments can benefit from media monitoring, too.
Read on to discover why you should start (or continue) using media monitoring.
#1 Competitive analysis in just a couple of clicks
It’s always wise to know what your competitors are up to. With media monitoring, you’ll get an insight into your competitors’ activities, and you’ll be able to compare your performance against theirs with the Competitive Analysis report in the tool.
That includes monitoring competitors’ products and services, reputation, sentiment, key people, etc.
Also, you can monitor what their customers are saying about them and get valuable information that can help you improve your products.
#2 Monitoring industry trends
Besides competitors, you can also learn about emerging industry trends and be up-to-date with everything going on.
You can find trending topics helpful in creating content, improving your products and social media strategy. Just to name a few!
Monitoring what’s going on in your industry opens up a lot of possibilities for you to find new business and promotion opportunities and know what customers want and expect from brands like yours.
Read 7 Social Media Monitoring Examples To Take Inspiration From
#3 Detect and manage crises situations with less stress
Companies usually reach for media monitoring when they get in a crisis.
And that’s a smart move to make.
The only thing is that there is a big chance that the crisis could’ve been avoided in the first place if the company had used media monitoring regularly.
But if you’re already in crisis, don’t despair; here’s how media monitoring can help.
Use it to track the progression of the crisis. Reports will provide valuable information about sentiment, channels, and influencers that can help you build a productive strategy for getting out of a crisis.
For example, by tracking sentiment, you can see whether your actions are producing positive sentiment with your customers or you’re making things worse. By knowing what channels your customers are using, you can focus your efforts on those channels and make sure that the customers are seeing your efforts. The list of top 10 influencers will present the people who can help you get out of the crisis. You can contact them and ask whether they want to collaborate. That way, your message can reach a bigger audience and help you mitigate the crisis.
#4 Conduct market research from your office
How to find out whether there’s interest in your products in specific markets?
Easy. Use media monitoring.
Filter your search to a specific country and language you want to find mentions of your product (or similar ones) and see whether people are talking about it on their social media.
You could use focus groups or surveys for this, as well. But, the trick with those methods is that people often filter their opinions and give socially desirable answers. With media monitoring, you can find unfiltered and honest opinions that can help you solve the dilemma if you should expand your business to other markets or not.
Read How to Use Social Listening For Market Research
#5 Improve your brand awareness and protect your brand reputation
Media monitoring is excellent for raising your brand awareness. If you’re just getting started and want to gain traction for your brand, media monitoring can help you reach wider audiences. Whether it’s finding influencers in your niche or media outlets that would be interested in writing about your brand, you can find it all with one tool.
As far as brand reputation goes, you need to be extremely careful.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
Warren Buffet
You can continuously monitor your brand mentions in real-time and prevent unwanted situations that can damage your brand reputation with media monitoring tools. By eliminating these distractions, you can focus more on promoting your products and delighting your customers.
#6 Find out where your (potential) customers are
Generating leads is not the first thing that comes to mind about media monitoring. But it can be done, folks!
This activity combines some of the previously mentioned benefits of media monitoring:
- Track your competitors to find if there are customers who are unsatisfied with their product/service so you can introduce yours
- Search for people seeking recommendations or advice on products/services like yours
- Look for potential customers beyond Twitter, Instagram or Facebook
- Find people asking questions about your product/service and answer them
- Generate leads through relevant content you created based on media monitoring data
- Find the right influencers for your brand and reach their audiences
Read 7 Social Media Monitoring Benefits
To sum up
There are many other reasons why media monitoring should be incorporated into your brand’s growth, but we decided to focus on these for now. Otherwise, this blog would turn into a very long read.
One thing is for sure – media monitoring should be an essential part of your everyday work because decisions about the future of your brand should be backed up with data!
If you’re new to media monitoring or you want to try new tools, book a call with one of our experts and get a free trial!