The potential benefits of media monitoring for big business

Communication and marketing professionals can no longer imagine their work without the data on the customers’ opinions, wishes, complaints, and reactions to new products, related PR and advertising campaigns, or user experience information.

The use of specialized media monitoring products is rapidly replacing the manual collection of this valuable information for companies, which is 100% inferior in regard to labor intensity, speed, accuracy, and volume of the media field that one person can process.

Small enterprises can still refuse to use specialized monitoring products, albeit by sacrificing time and quality. However, this is something large holdings and corporations simply cannot afford. Especially at a time when you need to adapt to market changes faster than the word gets out in the media.Below you will read about the ways media monitoring is already helping to accomplish communication goals and those less obvious benefits that your company could not predict to receive from media monitoring data.Keep track of everythingCommunication strategies for big business are not limited to mentions in online media and but surely also social media, offline media, international media, and news agencies.

The presence of the brand on all existing social networks that have its target audience may be a key requirement.You might not even be aware of the existence of customer content, such as forums and blogs that mention your product or company and provide the kind of customer information you plan to collect through customer surveys.Any form of digital field presence requires feedback collection, and it is now possible to keep track of large amounts of information.

Looqme Hub account collects and structures all mentions of your brand or a competitor's brand. It stores the information from all existing channels in one place.You can set the metrics you find important, detect negative sentiment in media, analyze competitors, and use all available information to improve the effectiveness of communication campaigns.

It is easier to put out a spark than a large fire

A successful modern business always follows market trends, competitors, and customer wishes. Adjustment to new conditions has become a necessity, which calls for changes that entail risks.When launching a new product, you must keep track of the information environment 24/7 to prevent or deal with emergencies that may arise due to misinformation or unexpected reactions from users.The product might need a quick fix or additional communication campaigns with instructions on the correct use of the product.

MyNews Bot is a must for dealing with such situations. It instantly sends all news about companies to the Telegram bot. You can monitor the sources that write about you or competitors, the service market, and product innovations.

And, most importantly, you can follow the news of a particular event, such as the launch of a new product. The MyNews bot sends news right after it comes out in the media, regardless of the time and day of publication.Media monitoring is also a portal into the world of micro-influencers. It is for a reason that we keep hearing about the micro-influencer trend in influencer marketing news. The research indicates that the trust towards the macro-influencers is declining, while the opposite is true for micro-influencers.

Companies turn to advertising agencies with a request for cooperation, but not everyone knows that monitoring services can also successfully satisfy this request. Follow customer posts on social networks, find advocates for your brand, and form a base that will allow you to start implementing a new campaign using influencer marketing, which will raise product awareness, brand trust, or increase sales.

How is the brand perceived now

When it comes to strengthening and refining brand positioning, current brand attributes are being examined in order to evaluate if they are strong and unique. That is where LOOQME analytics enters the chat providing an unbiased brand reputation profile as is and narratives around it.

Having an intended brand identity doesn’t mean it meets customers. Since the way a brand sees itself and the way clients do may differ. Great news there are unique machine learning models included in LOOQME analytics visually disclosing the context of discussions and evaluating existing brand attributes whether they differ from the intended ones set to meet company goals.

Trending challenge

In the world of trend development it is difficult to become pioneers. Knowing what a market, a country or several countries are talking about can be a challenging task taking over the whole work time. Using tools that automate manual effort, like LOOQME, will not only save time, but give an unbiased assess. The moment trends development monitoring in large information arrays becomes insightful in several clicks - and you keep track of trending topics: what is relevant now, what interest has increased during the week (or other period of time), what is new in the information field, how active this topic is, etc.

The power of media monitoring not everyone is aware of

Data from media monitoring systems is not useful exclusively for communication and marketing professionals.

The product development department needs it to track reactions to your new products, new and old competitors' products, ratings, recommendations, and feedback. Use data to get a head start over your competitors and adapt to new needs.

Analysts will make use of data from international media and specialized forums, which will allow you to learn about the latest technologies and market trends in your industry.

Company owners will find it convenient to be able to get summarized information. For example, the reputation index, which demonstrates the impact of communications on business results. Use the combined data of media activity and sociological research to understand the impact on changing public awareness, find out the real level of trust/recognition, and assess the competitiveness and investment attractiveness of the company in the market.

Obtain systematic and comprehensive information with media monitoring to facilitate your company’s growth, help it adapt faster, and be a step ahead of competitors.

The article was originally published Netpeak Software blog.

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