If someone talks about your company online, will you hear about it?
Brand monitoring is one of the most important business analytics processes which deals with strategically monitoring different channels on the web or social media in order to discover and eventually react to the different sentiments about your company, products, brand and anything explicitly connected to the business. One of the best reasons for monitoring your brand is to quickly respond to reviews and feedback. Most brands can benefit from some form of reputation management.
Essentially it is about monitoring various channels on the web to find out what is being said about your company, your brand, your products or anything else explicitly connected with your business. Brand monitoring is also hugely beneficial for market research – as you can put together information and insights that are relevant to specific topics and keywords surrounding your brand.
What is there to monitor?
1. Brand Keywords
Web monitoring will assist you to stay on top of recent updates and releases for your products. It will also provide a deep insight about the marketing strategies of the competitors, especially in their online activity. Monitoring the right keywords can help you discover a lot about your brand. It can give you a better understanding of your customers and community by showing you:
1. Which industry keywords or trends people associate with your brand
2. How people feel about your company, product, or service
3. The keywords they use when talking about your competitors
All of this can help you improve your products and services, as well as identify opportunities to engage with your audience.
2. Influencers and industry micro-influencers
Brand monitoring is now becoming an essential asset to the success of a business – not only because it gives you a better understanding of your audience. It also influences much of what your brand represents, as well as how your brand is represented.
Action and social mentions are driven more effectively by “power middle.” Mid-level influencers like bloggers have a smaller but more loyal audience and drive 16 times more engagement than paid media and “mega influencers.” The most effective influencer marketing strategies is to build and foster strong relationships with current network, happy consumers and new influencers who are active in relevant verticals.
Develop relationships with influencers before you need them. Relationship building takes time and once the connection is there, activating influencers becomes a lot more seamless and effective.