New media platforms for new opportunities affect the prospects of brand values, how they build relationships with customers/investors/partners, the general approach to business, and the introduction of new products to the market.
According to Statista, the total amount of data created, distributed, copied, and consumed in the world in 2020, reached 59 zettabytes. Forecasts predicted the figure to increase to 74 zettabytes in 2021.
It means growing competition in the online info space. The number of forms, platforms and methods of content distribution will increase. The main point to consider is that automatic tracking of brand mentions will be a profitable investment for businesses in turbulent data flow, which will grow and accumulate annually.
Why use media monitoring? Check out these reasons and switch to the dark side.
Stackla’s research data shows that 92% of marketing professionals believe that most or all the content they create appeals to consumers. On the contrary, 51% of consumers say less than half of brands create content they like.
What consumers and markets think about interesting and compelling content differs significantly. This discrepancy harms feedback and affects budgets that fail to deliver the expected results.
However, media monitoring allows you to find out what type of content attracts your customers and what resources they ignore. Based on the received data, media monitoring helps you:
By knowing your industry niche and its major players, you can learn from best practices and avoid mistakes. What you gain from monitoring the media of your competitors:
Consumer insights are interpretations used by businesses to understand their customers better. Media monitoring tools like LOOQME Hub help:
A reputation audit is the starting point for working on the company's reputation offline and online. It is necessary to build and increase its reach, change the brand positioning in the market, and improve interaction with partners/investors/customers.
Reputation audit process based on media monitoring analyses:
A reputation audit is a more reliable source of brand data than surveys and focus groups because it taps into the unfiltered opinions of a brand's audience. Feel free to contact us if you need an expert opinion on how media monitoring can help your particular brand.