Continuous improvement is touted as a top focus in many Fortune 500 businesses. And they seem to be on to something. Shouldn’t your organization emulate that thinking? Absolutely. So, here are five ways brands must resolve to listen better in 2020 if they want to be counted among the success stories.
Resolution #1: Brand Health & Proactive PR
If you’re not listening to what consumers are saying online, well – then you won’t know what they’re saying online, now will you? Sure, you can make assumptions, but with those assumptions come unnecessary risk that could have been easily avoided. Brand health has to be a top priority these days, regardless of the space your business inhabits.
With it, you can set alerts around spikes in mentions or key terms you know you’ll want to watch out for – and can also know right away when net sentiment experiences a slump. And this will allow you key time to develop messaging and redirect a negative narrative that’s brewing, as well as time to engage brand ambassadors to take up your cause.
Without it, you’re an exercise bike business at the mercy of a rouge comedian, set to see its stock take a nosedive.
Resolution #2: Customer Care
Customers expect to reach you on social media when they have a problem. And oftentimes, they may not even mention you – but they’ll certainly tweet or post about how much they hate you/your product or services when things go wrong for them.
Not only that, as your brand health alerts will pick up spikes in mentions (so no worries there!), but you’ll be missing out on super valuable intel around pain points. These are things your brand could develop and capture a larger market share. Or even just tweak and retain a whole swath of customers feeling marginalized for whatever reason.
Resolve to show consumers how well you know them and how much you care. CX is everything, after all . . .
Resolution #3: Consumer Experience (CX) Understanding
Are you really understanding consumer wants and needs if you’re not closely monitoring consumer experience analytics online? Doubtful.
Leading businesses udnerstanding how crucial CX is to ROI, using it to inform every bit of their processes, including:
- Launching new products
- Improving operations
- Developing new products and services
- Improving customer satisfaction
- And running more effective marketing campaigns
Interestingly though, in a recent study, we found that these same top firms are falling flat post-sale. They’re doing all of this work to understand consumers, all the way through the purchase funnel and then they allow them to fall away.
Resolve to either be the brand that retains the consumers its winning, or the one snatching up the consumers others work so hard to win over to the benefits of your similarly positioned products – and then foolishly lose. Huge market share potential there for those willing to do comparatively little work!
Resolution #4: Influencer Identification
You can have the most amazing, provocative advertising campaign in the universe – and consumers will always appreciate authentic efforts made by “real people” more. So, your brand really needs to identify who these ‘regular folks’ are and investigate whether or not they truly resonate with your target market.
In NetBase, brands can easily track channel metrics to sort out which posts are engaging – and how consistently engaging influencers are overall. Not only that, but who are they influencing, specifically (to make sure it’s your target market) and how do those conversations look:
Resolution #5: Competitive Analysis & Innovation
While you’re busy sorting out CX, you’ll stumble upon an idea or two, no doubt. You can leave this insight for your competitor to snap up, or you can bring it to your research and development team to explore, lickety split to get the jump on that amazing white space idea.
Alternatively, you can spot intel your competitors are missing (or that they’re sourcing from consumers) and capture market share as they lollygag around. You can also identify new target segments based on their efforts, and then target those consumers in some superior manner. Social analytics will give you all the consumer insight you need to secure that win.
Resolve to make the most of what online has to offer this year. It’s really foolish not to.
If your resolutions involve any of the above, or they just seem like ‘must have’ items to help kick off your New Year – reach out! We’ll take you for a spin around the social analytics world and share the many exciting possibilities for your brand. And for your competitors too . . .