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According to an ancient Chinese proverb, “A good reputation is more valuable than diamonds.”  But how do you know what your company’s reputation really is? What do people say about your business out in the world?  It starts with Social Listening.  Social Listening is the process of monitoring online conversations about your brand, competitors, and industry. It involves tracking mentions of your brand on social media, forums, blogs, and other online channels.

Social Listening can be used to:

• Understand customer sentiment and identify opportunities for improvement.
• Monitor your brand’s reputation and identify potential crises.
• Track your competitors’ activities and identify new market opportunities.
• Stay up-to-date on industry trends and developments.
• Generate new marketing ideas and content.

Social Listening is an essential activity for any business that wants to stay ahead of the competition and build strong relationships with its customers. It can be used to collect valuable insights in order to improve products and services, launch new marketing campaigns, and resolve customer issues. 

Examples of Social Listening might include an existing customer tweeting about how much they love a particular company’s product. Or, it might mean spotting a conversation where people are looking for a solution (product or service) that your company could provide.  This valuable feedback could be used to improve the offering, ensure the offering is being communicated clearly and find ways to make customers happier.

To Listen or Not To Listen:  That is No Longer the Question 

Social Listening is not optional.  It is a must.  Opting not to do any Social Listening poses a huge risk for any established company.  In fact, a failure to do Social Listening can be devastating.  Here are some recent examples of major companies that failed to do Social Listening.

In 2015, J.C. Penney had a major sales slump after the company made a number of changes to its marketing and merchandising strategy. The company was not listening to its customers and did not realize that they were unhappy with the changes.  J.C. Penney was forced to reverse course and make changes to its strategy.  Their inability to really understand what customers want ultimately led to the company filing for bankruptcy protection in May 2020. 

In 2016, Starbucks had a public relations disaster when two African-American men were arrested in one of its stores in Philadelphia. The incident was caught on video and went viral on social media. Starbucks was forced to issue a public apology and close all of its stores for a day of racial bias training.

In 2017, United Airlines experienced a PR passenger nightmare when a passenger was forcibly removed from an overbooked flight. The incident was caught on video and went viral on social media. United Airlines was widely criticized for its handling of the situation.  As a result, the company lost a significant amount of customer goodwill.  Its stock price fell 4%.  United’s President was forced to issue a public apology. The company was investigated by the Department of Transportation.  And, it was fined by the city of Chicago.  For a publicly-traded company, this is devastating.  If United Airlines had been using Social Listening, it would have been able to see the growing anger and frustration among its customers. The company could have taken steps to address the issue before it escalated into a PR disaster.

These are cautionary tales for businesses of all sizes. By failing to listen to customers across digital and analog mediums alike, companies can put themselves at risk of a PR disaster.

How to do Social Listening

The good news is that Social Listening does not require any special training or knowledge. However, it is important to:

1. choose an effective tool for Social Listening;
2. have a clear understanding of the company’s goals and objectives before starting to listen; and
3. have a plan for how the information collected will be used and handled.

1. Choose a Social Listening Tool

To start, there are a number of different tools that can be used for Social Listening.  Using Social Listening tools is the most effective way to measure a brand’s social reputation score. These tools track and analyze mentions of a brand or individual across social media, news sites, newsletters, podcasts, and other online sources. These tools use algorithms to detect whether mentions are positive, negative, or neutral.  Some of the most popular tools include:

• Hootsuite
• Sprout Social
• Brandwatch
• Mention
• Talkwalker

These tools allow you to track mentions of your brand, identify key influencers, and measure the impact of your social media campaigns.  These tools can be used to generate a social reputation score. These scores are calculated by social media monitoring tools and are based on a variety of factors, including the number of mentions, the sentiment of those mentions, and the reach of those mentions. Business reputation scores can also be influenced by other factors, such as customer reviews, media coverage, and industry rankings.

Businesses can use their social reputation score to track their progress over time and identify areas where they can improve. They can also use these scores to compare themselves to their competitors and see how they are doing in the marketplace.  Keep in mind that social reputation scores are just one measure of a company’s performance. They should not be used in isolation, but should be considered alongside other factors, such as financial performance, customer satisfaction, and employee morale.

2. Set Clear Goals

Set clear goals for your Social Listening program. What do you hope to achieve?  Here are some examples of goals that companies can have for their Social Listening efforts:

• Understand customer sentiment. Social Listening can be used to understand how customers feel about your brand, products, and services. This information can be used to improve customer satisfaction and loyalty.
• Identify opportunities for improvement. Social Listening can be used to identify areas where your company can improve its products, services, and customer experience. This information can be used to make necessary changes and improvements.
• Monitor your brand’s reputation. Social Listening can be used to monitor your brand’s reputation and identify any potential problems. This information can be used to take corrective action before a problem escalates.
• Track your competitors. Social Listening can be used to track your competitors’ activities and identify new market opportunities. This information can be used to stay ahead of the competition and grow your business.
• Stay up-to-date on industry trends. Social Listening can be used to stay up-to-date on industry trends and developments. This information can be used to make sure your company is staying ahead of the curve.
• Generate new marketing ideas and content. Social Listening can be used to generate new marketing ideas and content. This information can be used to create more effective marketing campaigns that resonate with your target audience.
• Resolve customer issues. Social Listening can be used to resolve customer issues quickly and efficiently. This information can be used to improve customer satisfaction and loyalty.
• Build relationships with customers. Social Listening can be used to build relationships with customers. This information can be used to create a more personal and engaging customer experience.
• Launch new products and services. Social Listening can be used to launch new products and services. This information can be used to gauge customer interest and feedback before launching a new product or service.
• Gather market research. Social Listening can be used to gather market research. This information can be used to make informed decisions about your company’s future.

These are just a few examples of the many goals that companies can have for their Social Listening efforts. By setting clear goals and using the right tools, you can use Social Listening to improve your business in a variety of ways.

3. Plan How Collected Information will be Used and Handled

Monitor your results regularly. Social Listening is an ongoing process, so make sure you check in on your results regularly to see how you’re doing. Use the information you collect to improve your business. The insights you gain from Social Listening should be used to improve your products, services, and marketing campaigns.  Here is a sample Social Listening plan for a company that provides a product or service:

Goals:

• Understand customer sentiment about our product or service.
• Identify opportunities for improvement.
• Monitor our brand’s reputation.
• Track our competitors.
• Stay up-to-date on industry trends.
• Generate new marketing ideas and content.
• Resolve customer issues.
• Build relationships with customers.

Tools:

Choose a social media monitoring tools such as Hootsuite, Sprout Social, and Brandwatch.  Also use:

• Google Alerts
• Reddit
• Quora
• Forums
• Blogs
• Industry publications

Process:

• Set up a social media monitoring dashboard to track mentions of your brand, products, and services.
• Use keywords, hashtags, and other filters to narrow down your results.
• Read through the results and identify any trends or patterns.
• Analyze the data to identify opportunities for improvement.
• Take action to address any issues that you find.
• Monitor your results over time to see how your Social Listening efforts are impacting your business.

Tips:

• Be consistent with your Social Listening efforts.
• Use a variety of tools to get the most comprehensive view of what people are saying about your brand.
• Be responsive to customer feedback.
• Use Social Listening to generate new ideas for marketing campaigns and content.
• Build relationships with customers by engaging with them on social media.

Social Listening is a powerful tool that can help you improve your business in a variety of ways. By setting clear goals, using the right tools, and being consistent with your efforts, you can use Social Listening to understand your customers better, identify opportunities for improvement, and build stronger relationships with them.

Tune in next week when we look at how JC Penney and other companies have used Social Listening to turn their business around and what it takes to build a good social reputation score.  Don’t miss it!

Quote of the Week

“Social listening is the key to understanding your customers and building relationships with them.” Gary Vaynerchuk

© 2023, Keren Peters-Atkinson. All rights reserved.