Your marketing efforts are essentially futile if you do not know what your customers want from you. And if you don’t know what they need, your product/service will obviously fall short of expectations and suffer the consequences. This could prove very costly, especially when you are launching a new product. Fortunately for you, market research which supports and informs a product launch is one of the major benefits of social listening. Moreover, a product launch requires a lot more than primary research. And social listening tools are built to assist you through each process.
What makes Social Listening Beneficial for a Product Launch?
Say you go ahead and launch a product without properly reading into customer insights. And the product does not resonate well with the audience. You begin to wonder what went wrong because you made a top-notch product. Social listening to the chatter online would have told about the competitor who is selling the product at a lower price. Social listening isn’t a traditional method but it is an important step in studying your online audience.
When you listen, you start tracking brand mentions. This opens up avenues to analyze a lot more than you would otherwise do. Analyzing this data goes beyond tracking likes and comments passively. You can draw insights from this and build an impactful campaign for your product launch around it. Social listening is one of the most cost-effective ways to build a product launch campaign and make it a success.
The Components of a Successful Product Launch Campaign
We have established that there are benefits of social listening if done before a product launch. However, this tool does more than offer pre-launch support. Here are all the components that can be aided by a social media listening tool.
Procuring Compelling Insights
No campaign can run successfully without gathering public attention. And you can afford to do so by speaking the language of your audience. Also, you need to track your performance in order to know which part to improve and tweak. Social listening tells you about your existing SOV, the overall sentiment about your brand or industry. If you wish to build your campaign around your new product, say an air-purifier, the tool brings you every news related to the keyword. Study the data and proceed further to plan your campaign. Once your campaign is up and running, the dashboard of the tool helps you respond to real-time feedback while it keeps measuring the ROI.
Helps Build Content
When you are launching a product you have to take care of the content for product descriptions, social media captions, newsletters et cetera. Putting all this together in addition to the stress of other activities of designing the campaign can be really hectic. The intelligence gained from social listening can help your content team pull out tailored content. The data tells you about the interests of your target audience, their purchase behavior, the trends, and more.
Identifies Brand Advocates
For most brands, the easiest way to gain an initial set of fixed eyes and ears is to go for an influencer marketing campaign. If your company already has few products in the market, you can use social listening tools to see who engaged with your brand the most and identify your brand advocates by seeing who commented positively about your brand and track their influence scores.
If you are going for a first-time product launch, social listening tools help you find the best micro-influencers in your market. And if you want to know why you should opt to work with micro-influencers over celebrity influencers, here you go! With a social listening tool like Auris, you just have to set it up to listen to your preferred keywords. The tool brings you all relevant mentions and the profiles who commented and engaged with the topic. You can filter out the right influencer you want to work with based on their influence score. The tool’s algorithm calculates the influencer score taking into consideration metrics like engagement rate, frequency of posts, expertise level et cetera.
Social listening tools can provide a precise picture of your customer’s shifting preferences over time. This helps you not just during the product launch but also for research and development. And thee benefits of social listening do not stop at this. You can uncover the gaps in the market, launch new product lines to fill in these gaps, and expand your business using just this smart tool!