Someone is sharing their information with your product on social media and tagging you. You can quickly look at what has been said and take action if necessary – whether that involves thanking them or apologizing and resolving their problem. However, not everyone who talks about your company online will mark you. And if it is a bad idea, it can seriously affect your self-esteem.
This makes it important for you to do product monitoring to get an idea of what is being said about your product. This allows you to take appropriate and timely action, and engage with the most appropriate audience. But before you get started on product monitoring, there are a few things you need to understand.
First, you need to understand how product monitoring can benefit your business. This will help you to get a clear idea of how you can get the most out of your product monitoring efforts. You should also understand what you need to be aware of so that you can properly monitor all the important discussions or activities surrounding your product.
This post will give you a complete guide to product monitoring. You will learn all the ways to benefit yourself and all the things you need to be aware of. You will find good free and paid tools to help you with your product monitoring efforts. Let’s take a look.
Importance of Product Monitoring
Managing what your product says and feeling about the product can help you in many ways. The main benefits are:
Improve Customer Service and Maintenance
Every successful business owner understands that attracting new customers is half the job. Ensuring customer happiness and gaining their loyalty is essential, if not all, to generate cash consistently. For this, you need to listen to your customers, answer their questions and complaints, and give them timely support.
And many customers go to social media with their complaints and inquiries. According to the Sprout Social 2018 Index, 57% of consumers reach out to brands on social media because they have a question. 45% do so because of a product or service problem, and 34% use it to recommend a company product or service.
It is important to answer these questions and complaints because they have a great impact on product identification. 21% of consumers are more likely to buy from your product if they have access to you on social media.
Product monitoring helps you follow all of these questions and concerns, as well as rave reviews, so you can provide timely feedback. This means you will be able to provide better, timely customer service and keep your customers successful.
Create a Better Product
Product monitoring is a great way to gather feedback about your product. People can write reviews online and express their opinions on social media. Some of these ideas may also include wise ideas for how your product can be improved. This can help you identify ways in which your product is lacking to create a better product targeted at your customers.
Your product monitoring efforts should include explicit documentation, in which you record all feature requests and complaints. This will help you identify the most requested features and major complaints so that you can make product improvements accordingly.
Increase Your Sales
In addition to identifying customer service and product development opportunities, product monitoring also helps you identify marketing opportunities. Some people may discuss the product online before deciding to buy it. They may ask for updates and ideas in their circles, or they may ask for specific clarifications.
Some may not ask about a particular product but may be on the market for a particular product to solve a problem. Identifying these conversations and providing customer support can help them make a quick decision and turn them into customers. In addition, you can even identify potential customers to your competitors. Working with them on time can help you improve your sales.
Source of Essential Content
Monitoring an online product is a great way to find great content to share with your fans. It helps you find content that embodies your brand – whether it’s product reviews, lists, or product reviews.
You can even find high-quality content that discusses a topic that is relevant to the features of your product or industry. It is therefore a great way to find content that you should share on social media and improve your content marketing strategy.