We all hold the key of success to our business, don’t we? Regular monitoring of the social media platform helps to know if the key of your brand is working efficiently. This will help to withdraw the profits of business smoothly from the locker of social media.
If it sounds a little confusing, let’s talk about the simpler ways to monitor the social media platform for your brand:
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Social Communication:
Initially, social communication was limited to face to face conversations or telephone calls. Today, despite the people addicted to smartphones, they just hate the idea of receiving business promotion calls. Social media is the only platform, which helps the businessmen to understand the preferences of people. A businessman needs to engage in regular conversations with his customers, to know their likes and dislikes.
Socializing with the customers also help in empathizing with them. Remember; ‘people don’t wish to listen to what you have to say about your product, they want to share what they want in a product.’ UNISON is one of the best examples to share. With 1200 staff and over 1300 branches, there are regular conferences, which help the company to sort of the business matters and issues. Many of the branches also run online public forums.
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Identify the customer:
How do you know if the right customer segment is visiting your blog or page? Are these customers the one from your target list? These two questions will help you understand whether you are channelizing your product’s brand on the right path. Once you are on the track, it is essential that you monitor your efforts.
The likes and followers help to understand whether your efforts are making sense to the people. Help yourself to improve better in case the results are not desirable.
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Identify the risks:
The feedbacks and comments may either make or break your reputation in the market. It is extremely essential that you learn the risks of negative feedback and make solutions to solve it.
For instance, if customers are not happy with your product delivery options, you may have to find ways to make prompt and efficient delivery. This is exactly what your competitors follow. Analyze your competitor’s skills. Do you really see any harm in this? Competitors are the best masters, who will indirectly train you to grow in business. No competition means you will have NO master to train you in the market.
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Monitor Opportunities:
Social media is one of the greatest and easiest ways to find new opportunities. No business entrepreneur wishes to stick to the limited number of followers to their blog or web page. Track more opportunities and hit them at the right time.
Another way to attract the opportunities, so that they come to you by itself is by rewarding your customers/followers. Are you rewarding your strongest customer segment for liking your product or page? There are plenty of discount coupons available, which will help you to get that strongest key engaged. Remember, leading voices influence and attract more opportunities.
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Identify the employment costs:
Last but not the least, employment cost relates to the staff, which is hired to monitor the online business. Social media is one platform where the business development team and sales team are increasing their turnover and business leads, without spending much of time, money and effort. If you have yet not realized this, then tracking your employment cost will let you know how.
For instance, the great recession in USA increased the number of employees forcefully leaving their jobs. The unemployment rate remained high due to recession in 2011 and about 23.6 million workers of the total workforce of the USA, had to resign from their jobs. The real estate market was also badly affected, due to which the construction works got a raise in unemployment, which increased the turnover rates in the long run.
LogicSpeak : Remember, for some people it must be a buzzword; however, to some it is a curve of success that will help you monitor your overall business.
Last updated on : 9th May ’16
