You need to be where your customers are – that’s an understatement.  With the exploding popularity of leading social media platforms, like Facebook and Twitter, there are a number of conversations taking place that are both directly and indirectly affecting your brand and your company’s reputation.  But how do you insert yourself into the conversation?  What’s the impact of your customers’ social interactions on your brand?  And how does being part of the conversation impact your revenues?

The voice of the customer fuels the power of the brand.

By monitoring the social conversations underway every hour of every day, you can identify your brand’s most passionate customers and energetic detractors across a wide range of social media platforms.  From such extensive monitoring, key learnings can be gained, including how those customers engage with other brands and what motivates and interests them to stay engaged.  These insights, combined with additional demographic data, allow for smarter modeling and analytics.  The more you know about prospects and customers, the better your strategy will be.  Platforms like Facebook and Twitter are conduits to a robust understanding of ways to enhance your brand.

Actionable brand data powers your marketing efforts.

New information from new sources will drive more effective marketing.  In turn, more effective marketing accelerates your organization’s path to additional revenue.  With a clearer and more comprehensive understanding of both your prospects and current customers, you can identify best practices for engagement with your brand on social media outlets, know what motivates your best brand advocates, and integrate the voice of the customer into your brand strategies.  Such steps lead to a more tailored marketing approach, allowing your organization to better reach and engage with key audiences and expand its existing customer base.

The conversations taking place on social media may seem at times to carry little business weight.  However, when closely monitored, they carry key insights about your target audiences and carry the potential to greatly increase your revenue stream.