Social listening is the process of monitoring social media channels for mentions of your brand, products, competitors and categories. Learn how following Social Listening Best Practices can help power your digital marketing strategy.
How do leading brands incorporate social listening to create successful digital campaigns?
1. They measure objectively
To leverage the power of social listening, it is imperative to understand the business and marketing objectives of the company. This ensures that the relevant topics are being tracked and social listening objectives are aligned to those of the broader business.
2. They know their audience
Successful brands listen to understand audience perceptions of their products and brand:
- What is being said?
- Where are they saying it?
- Is the sentiment towards the brand positive, negative or neutral?
- Are campaigns having the desired impact?
Is their messaging resonating with the target audience?
3. They look to understand the broader landscape
Looking beyond their own brands to understand category and industry trends provides companies with:
- inspiration for content creation
- early detection of threats to the brand/business
- opportunities for growth
4. They have an ‘Always-On’ approach to brand tracking
Real-time monitoring provides an early warning system and helps companies manage crisis situations swiftly and decisively. Identifying detractor posts and responding quickly affords the maximum amount of time needed to implement contingency plans and ensures minimal damage to the brand. Successful brands don’t just listen during campaigns – they listen during the ‘quieter’ periods too.
5. They constantly benchmark against competitors
Social Listening helps brands learn what their competitors are doing and what people are saying about them online. This real-time intelligence allows companies to understand their own weaknesses, leverage competitor weaknesses and identify opportunities for growth.
6. They utilize data to inform business and marketing strategy
Social listening intelligence can be leveraged to achieve business and marketing objectives in the following ways:
- Tailored messaging, delivered to target audiences via their preferred channel
- Testing campaign effectiveness and adjusting campaigns accordingly to maximise performance.
- Understanding pain points can shape product development, ensuring a better customer experience
- Identify market entry opportunities
How can Circus Social help?
As leaders in the digital intelligence space, we empower brands with real-time insights through our social & news monitoring platform, 20/Twenty.
To find out more about Social Listening Best Practices, or book a demo click here
There are more than 1,000,000 engagements about the luxury space occurring every day in the social media and digital ecosystem.
This is where word-of-mouth takes the form of reviews, customer support is expected in real-time and where brand messaging and consumer communications play a very strong role. Hence, this is exactly why listening and actively tracking what consumers share about your brand matters the most.
Luxury merchandise, spanning across jewelry, cosmetics, apparel, automotive to even custom designed furniture and handmade electronics – all have a consumer base that’s actively conducting research and contemplating their high-end purchases online.
This is also where consumer conversations left untracked can take a turn for the worse.
BRAND SENTIMENT GONE WRONG CAN HAVE IRREVERSIBLE DAMAGE
To share an example, Burberry recently faced extreme criticism online for destroying a great deal of merchandise to avoid it being sold at a lower cost. This resulted in high volumes of negative consumer sentiment and criticism online via blogs, forums and even on the brand’s own online properties such as its Facebook page.
The news and negative sentiment around this matter continue to spread and this could potentially result in a loss of millions for the brand, if not addressed well in time.
Such instances can cause an irreversible damage to your brand perception by consumers if not dealt with immediately and with the right messaging.
BE AT THE FOREFRONT OF WHAT YOUR CONSUMERS ARE SAYING – AND TURN THEM INTO POSITIVE OPPORTUNITIES
By actively tracking consumer sentiments and receiving real-time alerts, you can preemptively prepare for customer service issues, brand reputation incidents and communicate well to your audience.
Identifying what these conversations are all about is not the only aspect that is crucial, but also understanding where audiences are engaging the most and exchanging their views.
IDENTIFY WHERE YOUR CONSUMERS ENGAGE ONLINE – LEVERAGE THESE PLATFORMS
Luxury automotive brand, BMW, known for its innovativeness and performance, has consistently engaged its consumers. This is done frequently online via various digital touchpoints, immersive website experiences and digital campaigns such as the Z4 AR campaign and the recent “Eyes on Gigi” campaign.
These initiatives not only engage consumers online but also fortify the luxury car brand’s perceptions among its consumers.
Another luxury beauty retailer, SKII Japan, leveraged online discussions to create a futuristic in-store experience. The experience, called SKII Future X, allowed consumers to feel, touch and experience their SKII products in a unique way including skin scanners and personalized skin maintenance recommendations.
DISCOVER AUDIENCE GROUPS & THEIR PREFERENCES
Understanding the digital behavior of your consumers and understanding who & what they engage with, is necessary to ensure you are creating content that resonates.
They also offer you a means to discover new audience groups, identify current gaps and opportunities and discover which features or attributes they care about most.
With 20/Twenty, our next-gen social monitoring solution, Kinder was able to dive deep into the chocolate industry and discover insights about what consumers felt about Kinder products. The brand was not only able to identify key chocolate consumption moments but also how other chocolate brands like Ferrero and Cadbury were being perceived by consumers. This allowed Kinder to create effective and memorable content for moms and teenagers, that was differentiated, targeted and built ground-up from real consumer insights.
THERE’S MORE TO DISCOVER WITH SOCIAL LISTENING – EXPLORE THEM HERE!
I was at a Business School today to attend an event and met a few people from the industry. Here is an interesting conversation I had with somebody I met. Let’s call him Mr. X.
Mr. X – So what do you do?
Ram – I am an entrepreneur and run a software product company called Circus Social. We do social media monitoring and analytics; and have offices in Singapore and Bangalore.
Mr. X – What exactly is social media monitoring?
Ram – In simple terms, we fetch data, and a lot of it, from multiple social networks like Facebook, Twitter, Instagram, Pinterest, Reddit etc. and also from several blogs, forums and news sites. We then process and augment this data (with sentiment, gender, removing spam etc) and allow marketers to get insights from this data. We show them trends, insights, a lot of charts and graphs and allow them to make better business decisions.
Mr. X – So you are a big data company. Sounds like tough work. What kind of business decisions can be made?
Ram – Yes, we are indeed a big data company. Currently, our clients are enterprises, typically marketers, who would like to know their customers better, research their markets, analyse their competitors, identify top influencers, get real time alerts on topics of interest etc. We are also launching our SME product shortly.
Mr. X – So, do you invade people’s privacy? Isn’t this data private?
Ram – We only crawl data that is already publicly available. Anything that is private or protected by you is completely out of bounds for us. We do an incredibly good job of collating all of this data in our platform and marketers find tremendous value in quickly viewing trends from 10,000 feet but also in the ability to drill down to understand the “why” and “how” behind the trends.
Mr. X – Will this be useful for my company?
Ram – If people are talking about your company, your brands or topics that you are interested in tracking, you will definitely find it useful.
Mr. X – Where can I get more information?
Ram – Here’s my business card. Please visit our website https://www.circussocial.com where you can find a lot more information about what we do and a list of some of our clients. You can also sign-up for a free demo.
Mr. X – Sounds good. Thank you!
Ram – You are welcome!
Reach to Revenue, a Webinar on Social ROI
Earlier today, our Co-Founder & COO, Prerna Pant, spoke at a webinar with Alison Ng (Regional Account Executive at Hootsuite APAC) and Meredith Wallace (Head of Social & Digital at M&C Saatchi). These three accomplished women discussed how to measure and prove the value of your investment in social.
If you missed it, don’t worry. Here’s a quick ten-pointer list of what was talked about!
What did we learn about Social ROI from the talk?
1. According to a dipstick survey, 66% of respondents currently do not measure Social ROI.
2. 42% of respondents are unsure how to go about measuring and proving Social ROI.
3. Measuring social ROI can help to make or save money, or mitigate risk. Or better yet, all three at once.
4. Use the 3-step framework for simplicity:
5. Not all Social ROI is created equal. Not every single metric like the number of followers could be important to you.
6. Proving Social ROI is not one-off, it changes day to day.
7. Be flexible! Change your approach based on results and insights as needed.
8. Customer-centric is not a buzzword, it’s integral to social and digital success.
9. Look at Social ROI from beyond a sales perspective, but as a way to find customer insights.
10. Always contextualize data. Half the battle is asking the right questions.
We hope that was a useful list!
If you have any other questions about Social ROI, don’t hesitate to tweet us @CircusSocial or leave a comment below.
As the Official Social Listening Partner, at Echelon Thailand 2017, Circus Social powered real-time event tracking and social monitoring at the 2 day conference at Bangkok – from the 15th to the 16th of May.
What did we get up to while we were there?
The Circus Command Centre
We showcased our platform, 20/Twenty and the powerful Circus Command Centre which allowed for effective real-time event tracking and the display of online mentions in the form of strong visuals to attendees. Our Circus Command Centre displayed the most used hashtags and buzzwords during the event as well as the most engaged-with posts. Posts with the Echelon event mentions would be showcased on the Command Centre Screens in real-time, informing viewers of the top trending content around the event – across Social & News.
With the help of 20/Twenty, we could actively track and monitor mentions of the event in real-time; what people were saying about various workshops, talks, and other start-ups, and how much engagement (likes, retweets, or shares) any post received.
Speaker Zone – COO & Founder Prerna Pant – Talk on Social Media Intelligence for Start-ups and SME’s
During the speaker session in the afternoon, our COO and Co-Founder, Prerna Pant, shared on how brands can use social media data beyond simply crisis management, event tracking and how social listening is crucial across various business verticals as well as business sizes – SME’s as well as larger corporates.
Aside from nipping potential PR crises in the bud, social listening allows brands to do more than just monitor media. They could also draw insights from existing social media data too.
Here’s a snippet from the talk: “Social listening lets you find additional and unexpected branding and content opportunities. You may get inspired by an industry piece, or find an angle from user-generated organic content that you hadn’t considered before.”
Launched a 14-day free trial of 20/Twenty – Our Next-Gen Social Listening & Monitoring solution
Echelon Thailand might be over but we all know that the social media cycle never stops. Circus Social is excited to share an exclusive offer that could help your business get a quick taste of real-time monitoring and see what social media intelligence can do for your business strategies whether it is to do with content development, product decisions, media spends or simply PR management.
How can you benefit from our limited-time 14-day trial?
Take a quick spin of real-time listening and monitoring to help you –
- Monitor updates from Facebook, Twitter, Instagram, blogs, forums
- Monitor both online and offline news
- Gather deeper insights into your audiences
- See what people are saying about your brand
- Find who is influencing the sentiments around your brand
- Find opportunities for content
- Find content inspiration
- Actively find leads
CIRCUS SOCIAL IS COMING TO THIS YEAR’S MUCH ANTICIPATED ECHELON THAILAND 2017!
The Echelon Thailand 2017 conference is set to attract and engage over 1,500 industry leaders and professionals across Asia Pacific this year as well as feature a plethora of startups, investor groups, punctuated with power-packed events and exciting workshops.
This conference to be held over 2 days, the 15th and 16th of May, will see live speakers and professionals from across APAC, sharing their experiences, business stories, knowledge and insights into their businesses and key topics of interest.
Join us at Echelon Thailand and be a part of this amazing journey and hear about how social media listening can help grow your business! Register today and avail 30% off passes with our exclusive coupon code!
Head over here to register: e27.co/echelon/thailand/register
Prerna Pant, our Co-Founder and COO here at Circus Social, will be taking the stage at Echelon Thailand 2017! Voted one of Singapore’s top female entrepreneurs, she will share insights into how to utilize Social Intelligence and how digital analytics is shaping marketing strategy today!
Other Echelon Thailand 2017 Details:
Conference: May 15-16th, 2017 (C asean, Bangkok)
Cyber World Tower, 10th floor, 302 รัช ดา, Huai Khwang, Bangkok 10310, Thailand
See you there! 🙂
On the day India’s Prime Minister, Narendra Modi, declared the currency demonetization, the country witnessed a mixed reaction from its people. The very next day, the whole country was in turmoil and rushed to exchange these notes from banks and their ATMs, – only to find that banks and ATMs were struggling to meet these suddenly increased demands. Widespread chaos ensued across the nation and hundreds of thousands of people were adversely affected, most evidently the lower strata including farmers, daily wage earners, middle class and SME’s. Even large corporates were forced to shut operations for multiple days and lay off hundreds of employees. Other incidents representative of the impact of demonetization were the endless long queues of harried, starving and deprived men and women in front of ATMs and banks, once flourishing street stalls and shops, now a deserted scene.
The decision made by PM Modi to demonetize 86% of the notes in circulation was one that was initiated with various interests in mind. The one thing that it has undoubtedly successfully accomplished, is that of the widescale adoption of digital payments technology by Indians of all strata, nationwide.
In the wake of this massive push towards digital payments technology and moving towards a cashless, economy in India- one of our payments solutions clients saw this as a great opportunity to leverage their presence and services. The global payments company sought to identify more growth opportunities for their business and to increase share and adoption of its digital payments solutions. At such an opportune time, in order for it to reach out to this massive audience, it was extremely crucial to identify and understand the voice of public opinion, thoughts and issues surrounding this new loss of currency. An understanding of what the masses felt, what were their pain points and issues, could help the brand provide a solution in the form of its services which at its core was all about going cashless and embracing digital means of payments.
This is where 20/Twenty, our proprietary social intelligence and listening platform, helped the brand achieve insight and clear view into the opinions, thoughts and trends of the consumers moving to digital payments in India. A continued study of competition has also helped the brand keep a close tab on competitors as well as payment wallet solution providers’ activities of interest.
We at Circus Social, leveraged data from 20/Twenty to deliver daily insight reports which informed the brand of key developments and areas of opportunity with the following assessments –
• Consumer sentiments towards demonetization
• Identification of pain points of consumers as well as SME’s
• Tracking various campaign efforts of the government and competitors to learn what worked and resonated
• Tracking daily updates of other e-wallet companies like Paytm, MobiKwik etc.
• Measuring and categorizing different types of consumer engagement
• Identifying key influencers
The client also leveraged our social listening platform to get daily automated alerts when there were key issues being discussed, changes in consumer sentiment as well as growing trends. Alerts were based on keywords and consumer sentiments, when they reached a particular threshold the client received a notification. These e-mail alerts helped our client to be alerted to new and important updates and changes around India’s demonetization fiasco. With the help of 20/Twenty, the team was able to tap into the pulse of the masses and understand their sentiment on the whole demonetization drive.
Here are some of the interesting trends and insights from this crucial period:
• Over a period of two months’ people have understood that downloading an e-wallet app to pay bills is very convenient. Hence, adoption has been quick and easy with people using their e-wallets for to pay almost everything now including mobile bills/recharge, utility bills, cab bookings, movie tickets, etc.
• Post demonetization, e-wallet companies like Paytm, MobiKwik and FreeCharge have seen a huge surge in their daily transactions like never before. Paytm, MobiKwik, FreeCharge have already been in the overdrive to reach out to small traders to commence transactions on their platform. From running full-page ads in newspapers to making their presence felt on TV and digital, Paytm, FreeCharge, MobiKwik etc. are focusing on educating the consumers, expanding their user base and promoting cashless transactions.
• Moreover, since a lot of merchants don’t have card readers for debit/credit transactions, they have started to accept e-wallets as a mode of payment.
• Despite the positive developments post demonetization there still exists a section of people who are unhappy with PM’s decision of currency ban as they are forced to stand in long ques to withdraw their own cash. Also there are shops which still don’t accept any form of e-payment
• Infrastructure still a problem as its unable to cope with demands for new cash. ATMs are constantly out of cash and long queues till the wee hours of the morning persist resulting in severe consequences for consumers with them unable to pay and support their day-to-day consumption.
Whether or not India will benefit from the demonetization drive is still a big question mark but Mr. Modi’s demonetization initiative has definitely been a boon for India’s e-payment providers and they definitely have right future.
The future of e-payment providers:
• The future seems to be extremely strong. Smaller restaurants, vegetable venders are now open to accepting e-wallet payment, some merchants do not accept credit/debit cards but are now accepting e-wallet transactions.
• There has been a constant increase in the number of electronic transactions since demonetization started. Out of the 700 million debit card users in the country, 450 million earlier used the facility only at ATMs. Now, they are swiping cards at PoS (point-of-sale) terminals. This is encouraging for a move to a cashless economy.
• E-wallet transactions are convenient as these are conducted through mobile phones with internet connection.
• This is the time, for Digital Wallet Companies to grow further and be the next way of growth because people are moving towards digital life by accessing internet facility to their life.
So far so positive, but what could hold back this trend?
Having specified the benefits of electronic payment system, it is necessary to mention its drawbacks:
• Restrictions: Each payment system has certain restrictions regarding the maximum amount in the account, the number of transactions per day and the withdrawal amount.
• The risk of being hacked: As more and more people download and figure out how to use mobile wallets such as MobiKwik, FreeCharge or Paytm, there is also increasing concern over the security of transactions on these apps. If one follows the security rules the threat is lesser. Most reputed wallets adhere to all RBI security specifications and also have extra layers of security. However, most wallet apps only require a simple click for its operation. So, if you lose your phone, whoever finds it has control of your wallet. Only thing which may save you is a PIN or fingerprint protection when you send or transfer money. Though all apps are inherently safe, or as safe as your bank account, there are a few things a user has to do to ensure the financial information or money on their phones is not misused.
• The problem of transferring money between different payment systems. Usually the majority of electronic payment systems do not cooperate with each other. In this case, you have to use the services of e-currency exchange, and it can be time-consuming if you still do not have a trusted service for this purpose.
• The lack of anonymity. The information about all the transactions, including the amount, time and recipient are stored in the database of the payment system. And it means the intelligence agency has an access to this information.
• The necessity of Internet access. If Internet connection fails, you cannot get to your online account.
In general, the advantages of electronic payment system outweigh its disadvantages and they have bigger opportunities comparing with ones of traditional wire transfers.