7 Ways Social Media Monitoring Benefit Your eCommerce Business

Social Media Monitoring

You must have heard the digital buzz ‘social media monitoring’ making rounds. Does my eCommerce business need it, you may ask?

Well, let’s see. 

When social media first made its appearance, it was purely to socialize. People were using it to see what their friends and family were up to. They were connecting with their long-lost friends over the platform. 

Almost two decades later, the meaning and essence of social media have transformed. The endless conversations include discussing brands, product experiences, service reviews, brand recommendations, product complaints, and much more. The unique part about all of it is that the user has the liberty to either praise you or call you out in the DMs and comment section. 

This change in the narrative of social media is beneficial for eCommerce brands. Instead of relying solely on customer surveys for knowing the perception of your audience and customers about your brand, you can see them speaking their minds on social media. You can take leverage of the customer discussions to address their needs and pain points. However, you can benefit from this opportunity only when you know where, when, and how to look for these conversations. 

It is where social media monitoring comes into the picture. A well-thought-out social media monitoring strategy can have a huge impact on your relationship with your customers and your business growth. 

In this article, we are explaining in detail how an eCommerce business like yours can benefit from a structured use of social media monitoring. Let’s find out – 

How Does Social Media Monitoring Benefit Your eCommerce Business?

  1. Helps With Social Listening

As we mentioned above, social media is an undetachable part of your brand’s being. It is the new coffee house — modern and digital. Whether you are on social media or not, if you have customers, they are discussing you on social media. The discussion includes all sorts of exchanges — your brand’s positives, negatives, things you can be better at, things your competitors are better at, and more. 

Do you not think knowing this sort of information, right from the people whom you market your services to, is precious? There are other ways to get insights from your customers, such as online reviews or feedback forms. However, there is no surety that customers will be honest or have no bias towards you. Whereas people are more likely to be honest, and authentic when talking about their personal experiences/opinions on their social media profiles. 

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Social media monitoring allows you to be a virtual fly on the wall. It provides you with a way to observe the thoughts of your customers without asking them directly. By monitoring regularly, you can know what people are saying about you on different platforms. It will help you define your brand’s personality, strengths, and weaknesses. You can figure out the perspective of the audience and make practical improvements in your business.

  1. Improves Customer Service

96% of customers find customer service to be a crucial factor to be loyal towards a brand. 

Customers are also known to be more forgiving if you deliver a satisfactory service. According to research by Salesforce Research, 78% of customers do not mind continuing business with you after you commit a mistake if you normally deliver excellent customer service. 

These statistics show the importance of quality customer service. The term ‘customer service’ often makes people think of a team professionally handling complaints. However, one of the standard customer service practices is social care. 

Customers now have the power to reach out to the brands directly. They can tag you over social media, message you, and comment under your posts. Moreover, since they have several measures to communicate with you, they expect to be heard. Social media monitoring does this function for you.

You can set alerts for customer messages or other activities that involve your brand. It allows you to never miss activities from your customer communications. Be it a message or a story, you can respond immediately and take care of their concern within the appropriate frame. 

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  1. Makes Room For Crisis Management

Social media is a great station to know the negative feedback of your brand or products and services. You can take action in real-time to address the feedback and make relevant amends. However, some negative feedback can cause serious harm to your reputation and contribute to negative press. It is more likely to surround you as your brand grows and becomes more well-known. 

While some sort of negative press is unavoidable, there are steps you can take to manage it. One of the best strategies that have an immense impact is following through closely and not letting the negative comments spiral out of control. With a social media monitoring strategy in place, you can stay on top of every attention-worthy mention. Since you are tracking all the conversations around you, you can get immediate alerts about discussions around your brands. Time is of the essence in crisis management. Gladly, you can take appropriate measures to not let the fire out and avoid a crisis.

With social media monitoring tools such as Mentionlytics, you can also track the progression of the crisis. Evaluating allows you to understand the measures you need to take in the future to avoid a crisis. The regular reports consist of insights about customer sentiments before and after the crisis. You can get to know whether your actions are making a positive impact or making things worse. You can change the strategies accordingly. 

  1. Helps You Find New Ideas

Every digital marketer faces the challenge of finding new ideas. Creating fresh and relevant content regularly is not an easy task. If you are finding yourself in a confusing spot, again and again, you should use a social media monitoring tool. 

You can monitor the popular industry trends and strategize your ideas well in advance. Customers always appreciate the content made on trending topics. Moreover, it gets high engagement as well. For the times when you have a topic in your mind, you should follow relevant keywords. It leads to you finding more creative ideas for your content. 

Lipton once used social media monitoring to identify the key trends about its brand-new Chai Tea Latte. The research included various aspects, such as the key demographics of the tea, most popular flavors, and season of high tea consumption. 

  1. Identifies Brand Influencers

Before digitalization, word of mouth marketing prevailed the most. Today, it has got a digital twist. Customers still believe in friendly references. However, the way to do so has changed. Now, the influencers play the field. 

In today’s day and age, the opinions of influencers carry a lot of weight. Their followers are like their tribe. More often than not, they believe in the authenticity of influencers and trust their recommendations. Hence, influencer marketing is a separate column these days in marketing budgets. 

To gain the trust of the influencers and get them to collaborate with your brand can be tricky. More so because you also wish to get on board with someone who appreciates your brand. With social media monitoring, you can monitor the buzz on different social media platforms. Find Instagram influencers that are advocating for your brand. You can reach out to them to collaborate to keep your brand engagement high. 

Source – Benefit Cosmetics collaborated with beauty influencer, Danielle Mansutti

  1. Lets You Step Ahead of the Competition

Knowing what your competitors are up to is always a blessing. Fortunately, social media monitoring is the holy grail of competition tracking. 

With a social media monitoring tool, you can get an insight into how your competitors are handling their presence on various social media platforms. Furthermore, you get to access several aspects of your competitors’ behavior – 

  • The content they primarily share 
  • The variety of their content pieces
  • Their customer service management
  • The customer’s perception about their brand
  • Their strategies to promote the brand
  • The customer complaints and feedback 
  • Their mistakes 
  • Crisis management strategies, and more.

All these aspects help you understand the strengths of your competitors. You can learn the strategies that are working for their audience and take inspiration from them. As per the weaknesses are concerned, you can take preventive measures in advance to not bear the loss. 

  1. Engages With New Leads

Social media monitoring does not help with lead generation directly. However, it can be done!

Social media is synonymous with search engines these days. Users explore products and services on various social platforms. You can take leverage of this habit and track the keywords relevant to your brand. The people who are not your customers but are looking for those keywords are your neglected target audience. 

For example, a restaurant should track industry keywords like ‘fine dining,’ ‘gluten-free,’ and ‘live music’. You can also search for brand-specific keywords. Look for the commonly misspelled words related to your brand as well. If your brand is popular in specific locations, combine your primary keyword with the location keyword and search for it. The results lead you to people who were in your blind spot until now. They are your potential customers whom you can pitch to and gain new customers. 

Social media monitoring is not a one-off process. Once you set it up and make it a part of your routine strategy, it will help you grow your brand. Keep monitoring the web and social media and have the conversation going. 

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