If you’re serious about your business’ long-term success, understanding what’s going on in your industry is a fundamental first step. Media monitoring can help you keep up to date with the latest industry trends – and it needn’t take too much of your time or resources.
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Reasons why you need to monitor the media for industry news:
Anticipate spikes in demand
Media monitoring can give you a pretty good idea of future demand or interest in your brand. If you start seeing a lot of articles, social media posts and other media mentions for the types of products or services you sell, it could signify that you’re about to see a rush of orders! If you’re aware of these spikes in demand, in advance, then you can take action to ensure your production and distribution channels are ready to respond accordingly.
Differentiate yourself from your competitors
Media monitoring is a simple way to discover what your competitors are doing. You can find out about their latest campaigns and see how much media attention their efforts are attracting. You can then use your opponent’s’ ideas as inspiration for your campaigns. Or as a warning for what doesn’t work! If you aim to be original, you can also use media monitoring to find out whether your best marketing ideas have already been done before.
See what the world thinks of your brand
Media monitoring is also an excellent way to assess the effectiveness of your marketing campaigns. Is the world aware that your brand even exists? Do potential customers understand what your brand is all about? Media monitoring can help you identify any misconceptions about your brand so you can take actions to correct them. For example, you may think your marketing team has done a great job of explaining your products to the world, but you can’t be sure until you check what kind of questions people are asking about them on social media. Your campaigns could have left consumers with some confusion, in which case you’ll need to rethink the messages you’re putting out.
Turn negative perceptions around
When you’ve put a lot of effort into building a business, it can be difficult to hear customers bad-mouthing your brand online. However, you need to pay attention to negative attention surrounding your products & services, rather than putting your head in the sand! Media monitoring lets you know as soon as your brand is presented negatively, so you can immediately address the complaints. Responding promptly to negative feedback can show customers that you care about their experience; thus, giving them a much more favorable impression of your company.
Find out more about media monitoring
To learn more, take a look at the new digital handbook from Mynewsdesk. This guide explains why it’s important and gives tips on which categories of media and topics. Find out how you can effectively and efficiently monitor various media channels to stay informed and up to date with the latest trends in your industry.