Organizations today have adapted their marketing strategies to suit the age of social media. Now, while a strong online presence is vital for all businesses, a key tool is social media listening. It uses monitoring strategies to track conversations on social media platforms and websites about brands, upcoming trends, and the latest industry developments. The data collected is then analyzed in a qualitative way and used to improve products, services, and marketing campaigns to connect with the target audience. In addition, it helps businesses be aware of current and future social media trends and plan in advance to efficiently leverage them.
How are B2C companies different from B2B companies?
A business-to-consumer company, popularly referred to as B2C, is a business model in which the company’s product or service is sold directly to the end consumer with no involvement of a middle person. Such businesses are different from business-to-business (B2B) companies that sell products or services to other businesses.
Some big names in the B2C domain include Google, Amazon, Netflix, Airbnb, Walmart, Facebook, and eBay. According to a report by Grand View Research, the valuation of the global B2C e-commerce market in 2020 was USD 3.67 trillion, and it is expected to only grow further. Of course, the Covid-19 pandemic has also accelerated the number of buyers on B2C e-commerce platforms.
Since B2C businesses typically deal with a larger volume of clients than B2B ones, it becomes imperative for the former to connect with customers and nurture a long-term, trust-based relationship with them. In this age of digital marketing, social media listening and monitoring is the way to get there.
Tips for using social media listening to grow your brand
Buyers can be fickle in the B2C segment. For example, customers may buy shoes or clothes from a particular brand today and decide to try other brands next time. Design your marketing and social media listening strategy such that it elicits an emotional response in consumers and helps them form a bond with your product or company. Here are a few points to keep in mind to use social media listening efficiently for your B2C business:
Create the right listening plan
Identify your target audience, the social media platforms they prefer, and what exactly to listen for. Brainstorm and create a list of industry buzzwords, your company’s as well as your competitors’ names, products, and relevant hashtags. Put your social media listening tools to use in picking up such keywords for optimal results.
Look beyond social media platforms
Listen for mentions not just on the traditional networks like Twitter, Facebook, and Instagram, but also on forums, blogs, review websites, etc. for a complete picture. However, you have to deal with huge volumes here since on an average, approximately 6,000 tweets are sent per second! And this is on just one social media platform. Using the right monitoring tool or taking the help of a professional social media listening company can help you track pertinent mentions across the web.
Maximise consumer interactions
Get the most out of social media mentions and conversations with your customers by responding to them within a short time and making them visible online. Such interactions portray a positive brand image, displaying that your business takes customer service seriously. This can significantly help B2C brands boost brand loyalty among consumers, thus increasing revenue and growth.
Focus on the negatives, too
Not all online mentions about your business will be positive, but take that in your stride and use such comments to improve your products and customer service. Respond to criticism, listen to grievances, and offer helpful solutions in addition to an apology.
Gather industry insights
Social listening is not just for picking up brand mentions online; use it to expand your industry knowledge, the latest trends that you can capitalize on, and what your competition is doing. Asia is the world’s biggest B2C e-commerce market, which means that there is stiff competition for you all around. Use the information gathered to adapt your marketing strategy and improve your products by understanding exactly what your target customers want.
The increasing use of social media, ease of buying, and growing popularity of technology among people are major factors that have contributed to the rise of e-commerce in recent times. If you are a B2C brand who are not already using social media listening to capitalize on this growth, you are missing a massive opportunity.