With the rise of e-commerce and social media, brands and consumers now engage more intimately and customers demand ever-increasing attention from the companies that they interact with. This makes tracking brand conversations more important than ever.
With this being said, how could your retail brand benefit from a media monitoring service?
Let’s find out:
1. Media monitoring helps retail improve customer experience
Do you ever wish you could know
exactly what your consumer base was thinking? Well, utilising a media monitoring service can help with this, as it gives you valuable insight into the
public perception surrounding your brand.
If you’re wondering how all of this works, then take a closer look at
brand tracking and sentiment analysis — because this is the answer!
Brand tracking keeps track of
all of your brand’s media coverage, which offers a holistic view of how it is represented in traditional media, on social platforms and in your adverts.
Utilising this service will give you insight into how the public perceives your brand and its messaging. Understanding how your audience receives your brand’s messages will enable your retail company to either
change or
improve on its image, according to what consumers want to see.
Using brand tracking and sentiment analysis together will help you get more
bang for your buck. This is because the two go hand-in-hand — working together to provide an effective solution.
Sentiment analysis and Natural Language Processing (NLP) analyse various texts to classify words as either
positive,
negative or
neutral. This, in turn, reveals how a particular customer is
feeling in that selected comment or text.
Media monitoring and brand tracking arms you with
all the information you need to better understand your audience’s needs — allowing you to improve customer experience. And yes, this is a
vital part of the consumer’s journey with your brand.
2. Media monitoring helps track retail brand campaigns
You definitely want to know if your latest campaign was a hit or a miss with your audience, and that is why media monitoring
is for you!
Utilising
campaign keyword tracking enables you to track specific keywords relating to campaigns or product launches. This tool empowers retail brands by giving them the insight that they need to adapt their strategies based on customer reception and feedback.
It is
essential that your retail brand monitors the performance of its campaigns because that will help you to identify what is working and what isn’t. This, in turn, allows your brand to grow brand awareness.
3. Media monitoring helps you to keep an eye on competing retail brands
As e-commerce grows, so does the competition within this industry. But this isn’t
necessarily a bad thing.
If you study your rivals, you will be able to identify their
strengths,
weaknesses, the
public perception surrounding their brand and any possible
gaps in your shared market.
Media monitoring gives you insights that can help you focus on bettering your brand image and products where competitors
might be lacking. But where do you get this information from anyway?
At Newsclip, we’ve partnered up with
Adclip, an advert monitoring service. This solution enables you to see
exactly where your competitors are placing their adverts.
This information is useful because, by seeing where your biggest rivals are placing
their ads, you’ll know where to place
yours. Moreover, it will help you identify gaps in the market as you can also see where your competitors
aren’t advertising — allowing you to tap into those new markets first.