Does social listening really help retain customers for businesses?

In traditional business practices, companies often focus on how to reach new customers with their products or brands. While that is important, retaining existing customers should not be overlooked. A business with a good reputation in the market is one that customers rate positively and continue to use its services repeatedly. Therefore, having a tool to support customer retention is crucial. Through the following article, business owners and marketers will gain a deeper understanding of social listening services and how they can help retain customers.

What is Social Listening?

Social listening is considered an essential and significant tool in the field of digital marketing. What makes this tool unique is its ability to synchronize with your industry, customers, and even competitors within the market. Social listening services help you precisely know what is happening on social media, including customer reviews, discussions about your brand, and even activities carried out by your competitors.

Definition of Social Listening

Social listening is the perfect combination of monitoring social media and analyzing data through continuous data collection. By “eavesdropping” on everything related to your brand and then analyzing the data, you can be sure that all the information you need will be available. You can draw many necessary insights for your business or learn valuable lessons that you may not have discovered through regular business practices. This tool is highly useful at every stage of the marketing and business process, such as:

• Competitor research.
• Analyzing customer behavior and habits.
• Supporting the creation of potential leading trends for your business.
• Assisting in customer feedback.
• Comprehensive product development for your business.
• Monitoring the campaigns your company has implemented.
• Managing your company’s brand and reputation.
• Influencer marketing.
• Building connections between relationships.

What Role Does Social Listening Play in Interacting With and Retaining Customers?

Social listening services play a significant role in voluntarily retaining customers and encouraging them to return to use a business’s products and services. Suppose a business already has a reputation among its customers but neglects to interact with them on social media. In that case, it is a significant missed opportunity. Customers want to feel respected by a brand and expect attentive care when they make a purchase.

In every business field, the 7/3 principle is fundamental and should be known and applied by everyone. For sustainable development and long-term customer relationships, businesses need to rely on 70% existing customers and 30% new customers. Therefore, using social media and combining it with social listening services to take care of customers helps maintain existing customers and also provides opportunities for regular revenue growth.

The role of social listening helps retain existing customer

What Factors, When Combined with Social Listening Services, Can Help Retain Customers Effectively?

In addition to integrating an understanding of social conversations and providing dedicated customer care to retain existing customers, here are some crucial factors you should know:

• Employee Training: Training for employees is extremely important and should be a mandatory part of the goal to ensure service quality for customers. Employees are a vital resource for any business, and that’s why their sales skills need to be constantly improved, always with the mindset that the customer is king.
• Managerial Attention: Typically, managers tend to overlook the issue of training employees in how to interact with customers in a delicate manner to ensure customer satisfaction. Therefore, skills in persuasion and issue resolution when product or service-related incidents occur need to be closely monitored.
• Customer Service: Customer service is about caring for every detail to maintain satisfaction for the longest possible time. This is why the job of customer care always requires well-trained and meticulous employees, as its impact is enormous. Neglecting customer care can have detrimental consequences when negative reviews and experiences spread to other potential customers.
• Combining Social Listening Services: Utilize Social Listening services to gain deeper insights into customers’ thoughts and desires. This helps in creating content that truly captivates them.
• Marketing, Re-Marketing, and Customer Retention: In the field of marketing, re-marketing, and especially retaining previous customers through enticing promotions and attractive gifts should never be disregarded, whether you’re managing a small or large business.

In addition to the factors mentioned above, the issue of price and product quality is of utmost importance. It can be said that a business cannot do without professionalism in advertising and product quality. Both of these elements need to be combined to create synergy for the growth objectives. However, whether your business can establish a long-term position in the industry largely depends on whether you can deliver exceptional value to customers, as promised in your service process and product offerings.

Social Listening Services

If your business is new to Social Listening or you’re uncertain about how to utilize it effectively, seeking support from a Social Listening service like Kompa is a safe choice.

Kompa delivers social listening solutions powered by big data

Kompa’s services can bring value to your business through:

• Monitoring, updating, and analyzing brand recognition.
• Measuring the effectiveness of communications.
• Managing your brand’s reputation.

Kompa is a company that applies data technology (AI and machine learning) on a large data platform (Big Data). They provide data analysis solutions and equip their customers with valuable insights to optimize their business operations in various areas, including marketing, finance, operations, and more.

With over 20 years of experience partnering with numerous businesses in Vietnam, such as Vingroup, Masterise Homes, Vinamilk, SSI, MB Bank, Tan Hiep Phat, Shopee, Vietjet Air, Kompa is confident in delivering solutions based on transparency and integrity. They aim for sustainable development, a willingness to share, and the desire to achieve success for their customers and the community.

Conclusion

Through this article, it is hoped that businesses have gained a better understanding of what Social Listening services entail. Understanding this tool is crucial for businesses looking to conduct sustainable market research. Alongside this, partnering with a market research service that integrates various modern technologies, such as Kompa, promises to deliver the best possible value to your business.