Why social listening is a critical spend right now?

The novel coronavirus is the unshakable truth that this lockdown will continue to loom over our lives like an impending sense of doom. While this can also mean ‘lesser handshakes and more video calls’, if you’re a businessman, the digital migration of both your business and your customers should have already happened. Now that you’re here, what have you thought about how your brand is to strategically adapt in the digital realm, where CX management is completely redefined?

Customer sentiment is legitimately changing market structures by the hour. Recently, Cultfit promoted a month-long free trial of live fitness classes to emphasize two things: One – That fitness really is an essential commodity, and two – you don’t need to be in a gym to experience the workout you need. That right there was a brand strategically adapting to a crisis. In fact, Mckinsey’s (April 2020 report shows a global increase of 80% to 250% in new signups and fitness app downloads during the recent months. The same study showed that in Italy alone, one of the worst-hit areas of Covid19, there is a 40-50% increase in the use of Facebook to reach out to brands.

Most large-scale industries have already shifted their communication from direct advertising to pushing out marketing material relevant to the crisis. For example, Zomato went from advertising offers and discounts to focusing on hygienic delivery – something that they have never had to do before. Their consistent online presence and quick action have made adapting to a crisis very smooth. However, adaptation also requires monitoring. Are your efforts being paid off in the large digital realm of customers? This is where the role of Social Listening Tools really matters.

Social listening can offer a robust picture of not just your customer’s behaviors, but also the behavior of your competitors. How has the competition been affected by the crisis, and what are they doing differently to stay afloat, or even succeed? Unveiling your concerns about share-of-voice in a crisis like this may not actually be a bad thing. Many brands push out content highlighting their support and adjustments to their customers online hoping they are still a fan-favorite. When you benchmark against the competition online, you stand to compare how the target group responds to your competition’s communication as opposed to yours. You know what areas the competition is faring well, and what areas they aren’t. Knowing the kind of engagement, you and your competition receive right now is critical, and social listening tools are designed to relay such information.

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