The idea of Social Listening has received a lot of attention in the media and is a keyword that receives an increasing number of searches. This has led to the establishment of numerous companies that offer Social Listening services to manufacturing and commercial businesses worldwide. These are encouraging signs regarding the possibilities and prospects for expanding this service, and the Vietnamese market cannot ignore them. Let’s read this article to discover more about the Social Listening landscape both internationally and in Vietnam.
This type of market research, known as “Social Listening,” was first used by established corporations worldwide and has recently been adopted by Vietnam as the process of global integration has quickened. The ability to integrate additional supporting elements, such as AI, Big Data, and machine learning, to increase operational efficiency is being created for this tool, according to current trends. By automating the processes of gathering, analyzing, and evaluating data, this technology enhances comprehension and speeds up responses to data.
In addition to its usefulness in business research, Social Listening is being deeply integrated into customer interaction management systems. The field of customer care requires employees to grasp data information, market concerns as well as understand strategies to effectively build Brand relationships with customers. Therefore, it is essential to have a collection solution that will greatly support customer relations, marketing and product development staff.
On the other hand, Social Listening provides the ability to expand and diversify data sources when not focusing on major social networking platforms but also on online forums, blogs, and websites to help provide a comprehensive view about user opinions and behavior on the vast Internet.
Returning to the business environment and economic conditions in Vietnam, with high market openness and encouragement from management agencies in innovation, the Social Listening service was formed and increasingly expanded through the proliferation of many suppliers. This development is due to factors such as customer shopping behavior after the pandemic; shifting arguments in business operations; changes in the way products and services are marketed have had an impact.
In general, the use of Social Listening tools and services in Vietnam is still relatively new, depending largely on the social media industry as well as the level of capacity in the information technology field of businesses.
Although market research firms, advertising agencies, and media companies have been leaders in supporting the measurement of Social Listening effectiveness for campaigns, Marketing initiatives, and competitor research, there have also been positive changes in the application of Social Listening services. They experimented with and were the first to use Social Listening services, and they now provide this service to other companies.
The difficulty still exists since there aren’t many providers who can distribute it broadly to the Vietnamese market and because there aren’t enough products and services that have the features or quality that customers want.
Next, since not many Vietnamese organizations have the capacity or aptitude to fully adapt digitally, there is also a risk of awareness or changes in traditional work practices. It is difficult to persuade managers or business owners to use the Social Listening service when they do not believe the value is worth the expense, which can be seen to be a significant obstacle.
Learn more: Effective Social Listening tools Các công cụ Social listening hiệu quả
The balance between the opportunities and challenges mentioned above has caused the dissemination of the applications and benefits of the Social Listening tool to be in a tense situation, but it is impossible to deny that this service has enormous potential for the following reasons:
Brand management has always been a strategic role that affects a company’s ability to survive. Because many famous organizations such as consumer Brand Unilever, Coca Cola beverage or Google search engine always receive trust and welcome sponsorship activities. Obviously, they have directions, image development, image management and image-related risk control.
This can be interpreted as a lesson for Vietnamese firms about the importance of Brand management. To ensure that the Brand will be less impacted and always healthy, they must work to swiftly handle communication risks and uphold customer trust.
The reputation of a company on social media can be seriously damaged by a libelous post or a user advocating for a boycott of a good or service. If you don’t look for the source, don’t look into it, or don’t rectify it, the situation might swiftly deteriorate and lead people to believe the false allegations are true.
The work that needs to be done now is to shorten the time to process the media as quickly as possible by speaking up in affirmation, looking at the multi-dimensional situation and committing to clarify with transparent and honest evidence. In this way, the Brand’s image will be protected, avoiding further serious damage.
Building and keeping client relationships is crucial in the long run once you have received a thorough orientation on addressing Brand image crisis. In comparison to new clients, it may be claimed that current customers are a source of greater profit and revenue contribution.
If the explanations given are devious and evasive or do not find the problem that customers are really concerned about, then most likely, the consumer will leave and end the relationship with the business. . However, finding concerns is really difficult because consumers rarely express them directly. Therefore, having tools to capture and collect information continuously is very practical to maintain trust from consumers.
The brief conclusion is that when managers successfully complete the aforementioned two duties, they are aware that Brand image is a valuable asset and that firms should do everything possible to protect that asset.
The second point made is that the sector of Digital Marketing is expanding quickly. The number of Internet users, e-commerce, and the use of mobile devices are among factors causing the development. As a result, there is now a new trend of reaching clients via websites, social media, and apps. However, there are other challenges as well, such as escalating rivalry and a strong fight for control of big data.
Competition is usually the acquisition of market share through acquisitions, mergers or elimination of competitors. These achievements are shown through sales indicators, revenue and profits. However, the game has now changed as many managers have become cautious and economic growth in general has entered a recession. The goal of increasing revenue has shifted to optimizing operations and marketing processes. Businesses can still thrive in the market even if they have a small market share as long as they maintain and meet customer demand.
And to do this, Digital Marketing plays a prerequisite role in collecting information, helping to better understand consumer behavior and preferences as well as reach a diverse customer base in other geographical regions and push competition on a global scale.
Businesses need analytical tools to make assumptions, projections, or risk warnings when there is current consumer data and when the amount of data grows over time. Investing in analytics enables businesses to better serve customers by anticipating their requirements before they even consider or articulate them.The company will have a significant competitive advantage if effective risk management and control are put in place.
Kompa Kompa is a company that applies data technology (AI, machine learning) on a big data platform, providing data analysis solutions and equipping customers with valuable “insight” for optimization. optimize their business operations in Marketing, Branding.
At Kompa, Social Listening services are offered in bundles based on the values companies desire to obtain. Updating dialogues, channels, and customer nuances; monitoring market share trends and discussing Brands; capturing sensitive information; and dashboards that display Brand metrics are just a few of the services that need to be discussed. These are the fundamental feature bundles Kompa pledges to offer. Kompa provides high-performance and premium packages for companies searching for more comprehensive services.
For more than 10 years, Kompa has supported countless small, medium, and large businesses in Vietnam, including Vingroup, Masterise Homes, Vinamilk, SSI, MB bank, Tan Hiep Phat, Shopee, and Vietjet Air. Kompa is confident in its ability to be a friend in the development of Vietnamese businesses.
The Social Listening service has enormous potential, as well as exceptional advantages such as having pioneers and industry leaders that have used the service, as well as supplemental capabilities like artificial intelligence and machine learning that raise the price. dispense therapy. Contrarily, there are still issues with conversion, awareness, or a lack of units offering Social Listening solutions. However, the outlook for growth is still positive as Brand image management is given greater attention, and the thriving Digital Marketing environment will make it easier for firms to overcome obstacles.