The growth of online and offline communication channels has placed companies under a public microscope, and as a result consumers are more fickle about the brands they choose to support. Media fragmentation and information overload has made it much more difficult for communicators to single-handedly keep track of all the information that is publicly available about their brands. Investing in the right tools to monitor a brand’s performance not only prepares that company in advance of a crisis, but can also identify new opportunities for growth.
“Now, more than ever, you have the ability to refine your brand monitoring strategies to extract the specific information internal stakeholders need to make critical business decisions,” says Ken Wincko, PR Newswire’s senior vice president of marketing. “Compiling and interpreting this data requires more sophisticated brand monitoring strategies than you may have previously relied on. While this may require more time and investment, the benefits far outweigh the opportunity cost.”
The benefits of brand monitoring, including recommendations to obtain the greatest possible benefit for stakeholders, are discussed in the new white paper Brand Monitoring for the C-Suite: Delivering Actionable Business Intelligence.
Regular brand monitoring can uncover important insights for a company’s internal stakeholders, including:
- Public perception
Media monitoring tools act as a barometer for customer sentiment about your brand. Understanding a customer’s positive or negative impressions can help you determine a strategy for boosting your brand’s reputation.
- Competitive intelligence
Remaining cognizant of how competitor brands position themselves in the market as well as how prospects perceive competitors can reveal opportunities to further distinguish your brand.
- Content Planning
Careful analysis of media monitoring trends can identify additional opportunities for your brand to position itself as a leader and provide the types of information that customers and prospects care about.
- Reputation management
Planning for scenarios that could potentially harm your brand’s reputation doesn’t make you paranoid, it makes you smart. Media monitoring on emerging business continuity issues can help communicators prepare a plan before a crisis spirals out of control.
Carefully monitoring the brand prepares key stakeholders across the C-suite to make short-term and long-term strategic decisions that minimize risk and maximize business results.