Social Media Monitoring
Social media monitoring refers to research based on listening to the discourse of the web, especially social media, and usually refers to the use of automated tools to process that discourse, typically looking at thousands or millions of conversations. Social media monitoring can be passive, for example listening to people to find out what interests them, or it can be active, searching for references to a specific brand, campaign, or action. It is simply an analysis or understanding about brands, products, reputation and end users opinions through social web.
Social media monitoring is not just about listening to its people it has many key elements attached with it like:
It discovers conversations and activities in real time, it not only measures trends but also analyze it, it understand demographics main geo locations of activities, it also evaluates positive and negatives effects and identifies the key leader and opinion maker. Thus social media monitoring has a wide coverage under it as it covers many dimensions.
The business of social media monitoring The key factors that seem to have held social media monitoring back are:
1. Social media monitoring only reports what people are talking about, if they are not talking about you, or if they are not talking about the issue you need to research, then it does not solve the problem.
2. Social media monitoring is much more expensive than was expected, even to monitor a few brands and terms across a few markets is likely to cost several thousand dollars a month.
3. The widely perceived need to use manual coding has held back the credibility of social media monitoring and made it slower and more expensive.
4. Many of the areas where social media monitoring is strong, such as measuring reactions to experiences and advertising are areas where research buyers are very conservative, preferring to stick with their tried and trusted brand and customer satisfaction trackers.
5. The lack of knowledge about what the results of social media monitoring mean become apparent when companies start to use it. Comments from different parts of social media (e.g. Face book, blogs, and Twitter) often produce different findings, using different search terms often produces different results. There is a feeling that the results need to be merged to make them more representatives, but merged in what proportions? And, what are the merged result representative of?
However, social media monitoring is establishing a base within market research, and an even bigger one outside. Most brands recognize that they need to monitor what people are saying about them, even if they can’t use that process to replace other research.
It is likely that the cost of social media monitoring will fall, as software improves, and as competition between the large number of providers increases, this will increase the use of social media monitoring tools for both research and non-research purposes.
Social media monitoring follows three basic steps firstly it listen to its audience by determining relevant real time conservations and in its second step includes monitoring in which those conservations are analyzed and tracked and lastly it engage its customers dialogue comments for further use.
Maybe for few of us words like radian 6, techrigy SM2 etc sounds vague as we don’t have knowledge in these sphere but these are the top social media monitoring instruments.
The power of reputation is a key to success for any brand as there goes a famous saying:
IT TAKES 20 YEARS TO BUILD REPUTATION AND 5 MINUTES TO RUIN IT…..
Social media monitoring as a major role in building a reputation of a brand in its audience mind thus for any organization this factor should be the first priority as without this a brand in market cannot survive. The brands future lies with social media monitoring thus the better it is the successor the brand will get.
– By Anisha Bhatia