One of the most important tasks in an executive role is to ensure you are aware of as much going on as possible, at all times. The more you understand about daily operations and your industry, the easier it is to manage workflows and drive success.
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Running a company as a VIP requires many skills and in the modern digital age, understanding the social landscape is key. In fact, a recent study showed that 30% of CEOs at Fortune 500 companies are active on at least one social network.
A 360-degree view of your consumer base is a powerful thing and it can be achieved through social data analysis. A social media monitoring firm like Social Industries ensures that the most repetitive of tasks are automated and social information is reported in real-time. That way, CEOs can make the most informed decisions as efficiently as possible. Other ways social monitoring benefits VIPs include:
Driving Revenue
One of the key responsibilities an executive has is to maximize revenue. A social monitoring agency helps drive a robust return on investment by identifying significant market opportunities. Through continuous social listening, a VIP can determine industry trends and consumer needs. They can then use this data to develop teams and workflows that increase sales and profits.
A social media monitoring service can also increase cash flow by allowing a business to integrate all of their 3rd party platforms into one dashboard. This enables a brand to optimize campaign performance with rule-based features and automation. Sales data produced from this system allows a VIP to further company profits by drilling down through customized and relevant campaigns.
Competitive Analysis
It’s crucial for an executive to always be one step ahead of the competition. Competitor trends produce important data that can help estimate future campaigns and initiate progressive analytics.
Social monitoring reveals insights into your competition that will not only inspire your own campaigns, but help you avoid common traps they may have fallen into. Pay attention to their marketing that fails and try to steer in another direction. It’s incredibly useful data to procure.
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A social media monitoring service like Social Industries enables a VIP to study their competition in real-time. They help a brand maintain a competitive edge through consistent reporting and analysis. Keyword alerts can be set for any competitive campaign you choose to closely track.
Recruiting Top Talent
In order to recruit the top talent, you must be aware of their immediate wants and needs. Otherwise, you may present an offer that isn’t relevant to the candidates you desire. A social media monitoring service allows you to locate prime people before the competition does.
Additionally, monitoring will inspire any new talent to focus more on innovative tasks that drive business, rather than menial ones. That way you can tap into their creativity sooner rather than later. Organizations should consider these types of resources which allow them to hire great talent and keep employees trained on all platforms.
Marketing Automation
Social media monitoring is about automating repetitive systems. It’s crucial for reaching the largest audience possible. From prospecting to retargeting, monitoring is an effective process for both your sales and marketing teams.
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A VIP can use social information gathered from monitoring for other business tasks like A/B testing and product development. Automation also empowers an executive to dynamically direct updates on offers, availability, and pricing. This creates brand awareness and spurs the sales funnel.
Localization
Companies like Social Industries allow an executive to reach a hyper-localized audience through social monitoring. You can set specific alerts for certain regions or landmarks. This is the type of data collection that creates the greatest relevancy for your consumers.
Segmenting an audience and targeting them locally produces a different experience for people. It’s more memorable, encourages brand loyalty, and ultimately, leads to higher sales. In fact, 79% of consumers surveyed admitted they are more likely to use a brand’s promotion if it’s tailored to previous interactions. Data-driven advertising at scale is always anticipated by modern consumers.
Social monitoring and automation are about streamlining your options and working smarter, not harder. It allows a VIP to create teams with top talent, engage customers with new experiences, and drive revenue like a true champion.
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