A startup company is more than the idea and state of mind. It is more relatively a young organization that focuses on the growth. In this rush of increasing demand of users, there are many startup companies that usually forget the basic marketing rules to know who your customer is, what he thinks, and how he feels about everything.
So, if you are involving into any startup business, then brand monitoring is the most crucial part of your organization. According to the Technopedia, they call brand monitoring a business analytics process that means you cannot expect your organization to thrive without performing the required important research through brand monitoring tools.
Now, the question arises “what do brand monitoring tools contain”? Basically, these tools help you to gather the insights of your organization, its perception within digital space and your overall brand image, also anything which has any relation with your business.
The custom software and the KPIs are becoming so essential, that we forget for whom we have built this product in the first place. What’s more essential is the brand monitoring tools help you to monitor the brand’s performance in your targeted demographics. This is again another vital part to be aware of your particulars audience segment and your target audience.
If you believe that a brand monitoring platform is the only relevant and essential steps for any startup organization, then below are some reasons that will clearly explain why a startup organization requires brand monitoring tools:
Remember, how it looks in old days; you never knew what conversation was going on between your competitors and your customers. But nowadays, you can see that happening in real time. Moreover, you can follow your competitor's marketing and sales development strategy and can take on their success cases as well as can learn from their mistakes.
It is the smartest way to be creative and innovative, yet there is no requirement to reinvent the wheel. You can also spare your organization from lots of troubles and challenges that they usually face by merely looking at your competition. Furthermore, your competitors can be both source of inspiration and endless improvement at the time.
All that noise which surrounds your brand such as comments, social media, reviews, etc is worth your attention. People are happily sharing their feedback in the digital space and these companies are more likely to succeed.
No survey or focus group can reveal improvement areas as well as people’s honest opinion, like Twitter for instance. If it is the customer-oriented approach that your organization is taking, then this is what can help you for building the utmost customer-centered products and business strategy. Here is what you must pay attention for more:
1. Product & Features requests: When you tell your customers that his/her feedback is crucial, that it is considered as one important thing. However, when you promise that their feedback can have a real impact on your product strategy, then this is the platforms where you provide the real value added to whatever feedback you want to receive from your customers.
2. Bugs and enhanced product: You might be spending ages to test your own products before it lands on the market; however, we all know that nothing can be the most appropriate option for you. Therefore, you must find your own brand champion and let them test your product.
3. Spy on your customers: Make sure that you must know what your competitors are doing and what their customers are saying about them. This thing especially helps new brands which have more established competitors.
Now, this is the last and most important point that should make your heart ticking quicker. If you want to practice an inbound marketing strategy, then you must be very well aware that the contents are the cornerstone of generating more leads. The reports of Neil Patel, if B2B Company runs a blog, then it generates 67% more leads per month. Therefore, you can use a huge range of information that you get from the brand monitoring platform to get the ideas about what kind of content will be relevant to your customers and prospects.
Once you have clearly defined your product strategy, it is high time that you take a look at how a brand monitoring tool helps to enhance your digital marketing efforts. A great product has no real business value, if it is not marketed smartly. The first layer of great marketing strategy always has to do with knowing your targeted audience. Below are some of the key measures that will help you to understand how brand monitoring tool can offer you with rich customer’s insight:
1. Know your customers: Targeting is not an intentional business decision, rather than it is an intuitive one. However, in today’s modern world, everything is full of tool and marketing goals, therefore, going with your gut is not the best solution.
2. Identify your customer's requirements: By monitoring discussions about the particular business niche, you will be able to quickly identify what your customers expect from your product or service. Only by knowing what your customers actually need, you can satisfy their requirements.
3. Be present where your target audience is: It is simply not smart to be present everywhere at all times. If your target audience does not happen to be social media, and it is only using a web search to find out about your services, then you can invest your resources in PPC campaigns more effectively.
The “it-thing” is one of the coolest features of the digital age, which defines the ability to perform sentiment analysis. There are some brand monitoring tools which allow you to effortlessly measure what your brand perception is, be it negative or positive. It is completely up to you to look into these areas for more improvement- so, be it your product, your customer service, your marketing strategy or the success of the certain campaign.
If you cannot afford a large customer support service team, a brand monitoring tool can come to your aid. The fact about this is that, the digital space already comprises of all important instruments for customer support and retention, so all you have to do is to just leverage all the possibilities. Once you have attracted your customers, then this is when the real job starts. However, react timely and make sure that the support is present which will save you from lots of trouble.
It is quite obvious that if you create a customer-centric organization product approach that addresses your customer’s queries and needs and quickly and successfully handle their issues then your organization will have pretty much all that a customer actually needs. Thus, brand monitoring also helps to enhance your sales strategy.
According to the reports, 84% of the consumer’s claim that the most trusted and influential source of information about brands, products, and companies come from word of mouth. You must also understand that there is a huge difference between opinion leader and brand advocates, for the latter do not get paid for reviews or do not consider being the industry experts. Therefore, these brand champions are precisely the valuable solution that you are looking for.
It is essential to recognize that online conversation is not merely a matter that is to be taken into consideration by your marketing team. The brand monitoring tool helps you to monitor your brand perception, its overall performance, follows up the industry trends and thus gathers all that data to make data-driven decisions which will help you to build a successful and customer oriented business.