Social Media Listening: The Key to Connecting with your Audience

October 26, 2021


By Editorial Team

All our lives, we’ve heard older generations tell us to ‘listen before we speak’, which generally fell flat and induced eye-rolling. But, when you consider the world of social media and companies’ efforts to drive business success through it, this saying can actually set you on track to earn more engagement and optimize lead generation. Want to find out how? It works through Social Media Listening! Let’s take a closer look at Social Media Listening and find out how you can use it to create better strategies that drive increased revenue and conversions.

What is Social Media Listening?

Social Media Listening refers to tracking and analyzing the trends and conversations happening within your niche. It is important to note that Social Media Listening helps you understand why, how, and where these valuable conversations are happening and what exactly your target audience is thinking. You’ll understand Social Media Listening better with this example:

Discovering the Value of Social Listening

Social Media Listening offers you a closer look at customer behavior and shopping habits. It gets you valuable insights such as:

 

– 88% of consumers prefer coupons in the U.S.

– 65% of millennials are buying private labels instead of name brands.

– Total retail sales in the U.S. are projected to reach $5.35 trillion by 2025.

Source: Statista

 

Considering insights gathered from consumer data taken from a variety of social media platforms can improve your marketing and operational efforts. Given the ever-changing trends and behaviors that characterize the social landscape, staying on top of customer insights through Social Media Listening services is the best way to stand out amongst competitors. Imagine you own a Fast Moving Consumer Goods company. You have just invested in social listening research and discovered that online, users are praising a product that is not one of your flagship products. As a result, you decide to invest in marketing efforts targeted to the benefits called out by users, resulting in a significant increase in sales. Had you not invested in social listening research, you would not have identified the product’s potential and the consumers’ needs, which would have represented a significant missed opportunity.   Social listening online allows you to engage more effectively with your clients to discover their likes and dislikes. You can then tweak your services and strategies to adapt to your customers’ needs and prove to them that their satisfaction is your top priority. After all, there is no better way to grow your business than through acquiring customer loyalty.

How to Get Started

To effectively conduct social listening, you need to first determine the specific objectives of the research. Only then will you be able to focus on the right metrics instead of getting lost in the thousands of statistics and facts coming your way. You should also reach out to a business intelligence firm that specializes in consumer insights to guide you in your Social Media Listening.  At Maven Road, we’re experts in deciphering big data and creating actionable insights that translate into better leads and more conversions for your business. Are you ready to start listening to what your customer data is saying? Talk to us!

Editorial Team

Paul Herrera is The Chief Operating Officer & Co-founder at Maven Road, bringing valuable knowledge in management, marketing, and data analysis. With an MBA and several years of experience in Canadian and American companies, Paul ensures a responsible and efficient operation throughout the process of developing reports.

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