Using social listening to build your business is one of the smartest moves you can make as an entrepreneur. While other founders and business builders are trying the “see what sticks” method of brand building, you can grow your company by using inside knowledge to increase your customer-acquisition efforts.
Understanding how to use social listening to turbocharge your business' growth rate is essential. Integrate the following social listening tips into your brand development strategy and you'll outgrow competitors at an advanced rate.
1) Monitor conversations relevant to your target audience in real-time using a tool like SocialMention.com.
When you practice real-time social listening, you discover engagement opportunities your competitors don't even know exist. Not only does this give you additional lead time, but it also helps you build a reputation as an industry leader who keeps tabs on what is happening within their industry.
2) Extract data from online conversations using social listening and use that information to fuel your content marketing and social media marketing strategy.
Not every conversation requires immediate feedback or engagement. You might be better off creating a detailed blog post specific to online conversations you uncover and then @ mention relevant parties on social media when you share your newly created blog post. This hack is especially useful on networks like LinkedIn.
3) Social listening isn't just about serving your own needs as a business builder.
Effective social listening is best used to serve the needs of your audience. Offering insights helpful to your audience without expecting anything in return allows you to build goodwill for your business and increase your odds of future referrals.
4) Social listening is also helpful in uncovering what competitors are doing and how they're interacting with customer segments you have in common.
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Practicing social listening on a regular basis should be a core component of your competitor analysis strategy. If you're not paying attention to the online interactions of your competitors, you'll miss opportunities and potentially lose market share by not understanding where their marketing strategy is leading them.
5) Be aware that social listening can have negative implications if you introduce yourself and your brand into conversations where you're not welcome.
Know when it is appropriate to pop into a conversation on platforms like Twitter and Facebook. Use good judgment when attempting to offer input of value or your social listening efforts can backfire and leave your brand looking nosey and pushy.
When used appropriately, social listening can have a major impact on your business' growth rate. You can use social listening for digital reconnaissance, trend watching, and even reputation management. The more effort you put into using your online listening skills for brand development, the more effective your business growth efforts will be.