As we all know by now, media monitoring is the process of keeping an eye on the output of broadcast, print and online media. It is said to be a useful tool for gaining an edge over competitors and gathering information so that new strategies may be developed to improve your company’s market share and image.
However, do you wonder if all that is really necessary? Should companies really be paying attention to what the media are saying about them? The answer is a straight yes, even more so in this digital age when information reaches populations in an amazingly short period of time.
Information about your company should not only be monitored, but also carefully analysed and responded to. Negative comments, if not promptly addressed, can destroy the reputation you have built over the years.
Here are a few noteworthy advantages of media monitoring :
The media have become a powerful tool for shaping thoughts and opinions. While you cannot totally control what is being said about you, it is important you present your own version of the facts when negative comments are being passed around. It is important that you respond swiftly in crisis situations, to prevent molehills from becoming mountains. Media monitoring makes this possible, as it follows all that is said about your company and gives you room for quick responses.
Media monitoring does not only focus on you. It also pays attention to your competition and your sector in the broad sense. It keeps you on the top of your game. It tracks what your competitors might be doing differently to gain an edge. It also recommends necessary changes regarding your tactics.
Monitoring your sector will not only give you the upper-hand, you will also remain informed about the sector’s movements to better position your company on the market.
Consumer needs monitoring
Keeping the upper-hand is not only about monitoring your competition and the sector. The consumers remain the major force in any industry. Gaining the consumers’ loyalty and trust may just be the best way to stay ahead. What better way to achieve this than to keep meeting the consumers’ needs. Media monitoring makes this possible, as the ever changing needs of the consumers are monitored and reported to the company.
Measurement of the effectiveness of communication
Media monitoring services make it easier to monitor the effectiveness of your communication. There is tangible information regarding the reach of your press releases and the perception of the general population. It is also possible to determine which media outlet will provide you with the highest media coverage. Your company will then be able to consolidate its strengths and improve on its weaknesses.
Media monitoring is an essential tool for the continued progress of organisations. Media monitoring reports will help you in the decision making process and will assist you when preparing swift responses in times of crisis.