Social Listening Tools at NetbaseQuid for Better Engagement

NetbaseQuid is a company that helps businesses listen to what people are saying about their products on social media. They have developed technology that can help companies track conversations in real-time and respond at the moment with appropriate messages. NetbaseQuid also offers social listening tools for large brands, agencies, and other organizations interested in tracking online sentiment in social media. Businesses can use NetbaseQuid to track conversations in real-time about their products, brands, or competitors. The social listening tools also provide feedback on the strength of each product’s online presence. Therefore, companies know which items are being talked about most frequently. The companies also know how they stock up against the competition.

Matching metrics from social listening tools to business goals

There are three main things businesses want from their social media accounts: increased brand awareness, customer acquisition/retention, and leads generated. While many people think these are the only metrics worth monitoring, there are other very important metrics for business owners to check. However, a discussion on the three metrics will be key in guiding the use of social listening tools.

Brand Awareness

When it comes down to it, more impressions mean better brand awareness (or reach). “Impression” is a term used specifically with Facebook but also has relevance across most platforms, including Twitter. It refers to how often your post showed up on someone’s newsfeed or timeline. It also means whether the person clicked through or not. If your post gets more impressions, it means your brand is increasing its reach or gaining more exposure.

The number of likes, comments, and shares indicates how well your post resonated with the audience you were targeting. This is a great metric to see if people are responding positively or negatively to what you have posted. If there’s a lot of negative feedback in the comments section, it might be time for an overhaul of your social media strategy. However, that can only come from analyzing this data over time and experimenting with different content types until something is consistent.

Customer Acquisition / Retention

More followers mean increased customer acquisition (or reach). In addition to impressions increasing brand awareness across various platforms, having lots of followers indicates someone has been interested enough in what they’ve seen from your brand. They may have seen it on their feed/timeline too and decided to follow you. This is a clear sign that your posts are resonating with the audience you’re targeting. The resonance should be taken as a positive indication of customer retention (they like what they see enough to want it again in the future).

Apart from that, there is also a need to check on engagement rate and conversion rate to establish customer acquisition/retention. Engagement Rate is how often people interact with a post – comments, likes, shares, and many more. The higher this number is over time, the better you are engaging your audience on that platform. Conversion Rate reflects how successful those interactions were in terms of turning page or site visits into leads or sales. Calculation of these numbers will give you an idea of what this number looks like by default in relation to customer acquisition/retention.

Lead Generation

This metric is tied closely with the number of followers because social media accounts run on an investment model. The model assumes that, time invested first results in increased following later down the line. For example, creating compelling content takes time but if done correctly will result in more people seeing the said content which may convince them to invest some time into following your page/account. At this point then, for businesses whose main concern isn’t increasing brand awareness or customer acquisition/retention, lead generation becomes the most important metric – at least until they have a following large enough to make the other metrics matter.

Although lead generation isn’t important for every business, it becomes very relevant when you consider that social media is often used as a means of generating leads in addition to customer acquisition and retention. In fact, most companies use multiple platforms, not only because each one has its own strengths but also because it allows them to generate different types of leads. The generation is done on various demographics across different regions/countries from one single location. The location could be your website or blog where people can get more information about what they need and who can better provide the service they’re looking for. 

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