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There is never a bad time to start collecting real-time business intelligence that will help you learn about your audience. That said, there are some key periods when a social media monitoring program can bring important insight to your business planning.
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Marketing campaign periods
You can benchmark the buzz around your brand before you launch your next campaign, then continue monitoring it during the campaign period and see how much lasting impact your campaign had through post-testing.
During a crisis
As online conversations move fast from one site to another, particularly negative news and opinions, you must make sure you have a handle on where it's going and what's being said. With the proper social media training, you can bring a crisis to a halt by knowing where to enter the conversation and how to deliver your message.
Before launching a product or product improvement
You can turn to social media monitoring to gain product development insights throughout the product lifecycle. Whether for feedback on product features, insight on packaging design or just to get a sense of how people are using your product, monitoring can be a very influential part of your development.
Before any major expenditure
Follow industry trends to see where they're going and determine how you fit in before making any major financial commitments. More specifically, you should also follow your suppliers to ensure that you're keeping up in the ways you determine to be most important.
Always
As people are leaving their thoughts online every day, social media monitoring is becoming more and more important from a business intelligence standpoint. It's vital to define your listening objectives, determine how you'll collect information on a regular basis and figure out how to apply it to your business goals.
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