Media monitoring tools report what is happening, and advanced tools based on AI technology do much more than that! They excel in guiding the marketer/researcher on what to improve and where to look for new insight. Notably, they access vast data, offer real-time monitoring, and automate time-consuming tasks.
As the market becomes more complex with evolving consumer values and expectations combined with unforeseeable market movements, automated, real-time monitoring is the closest you can come to understanding your business environment fully.
This is especially important for social media, where almost half of the world’s population is logging in daily to turn the wheels of business.
We are going to share some of the best media monitoring tools for your social media marketing campaigns, including:
- NetBase Quid
- Rival IQ
What Is Media Monitoring?
Media monitoring encompasses all the efforts that are geared toward a better understanding of your market. This involves a variety of key performance metrics, data sources, and of course, tools.
Performance metrics are the measures of progress you use to determine whether you are achieving your goals. These are internally decided, but generally, brands are interested in those about awareness, engagement, sentiment, competitive edge, and risk/crisis management.
Data sources include online news, broadcast media, print media, consumer forums, product review sites, and social media. These are where consumers and businesses go to produce and/or consume information.
In this article, we will focus on social media monitoring which, for various reasons, is essential for modern brands.
Why Is Social Media Monitoring Important?
Even without being on social media (God forbid!), there is a lot a brand can gain from media monitoring. On the contrary, brands that don’t track even their own social media performance place themselves in a losing position. If this is you, here is what you are missing out on:
1. Understanding consumer sentiment
Consumer sentiment refers to the attitude of your target demographics towards a relevant subject. This may be around your brand or, more crucially, about more significant issues such as emerging trends or a shift in customer values. All these subjects have a direct effect on the brand’s performance.
Brands monitor consumer sentiment because it keeps changing based on what’s happening in the news, trends, and other factors. Beyond that, keeping tabs on what is happening on social media helps them understand consumer behavior and expectations.
2. Tracking campaign performance
Marketing campaigns for brand awareness, product launches, new partnerships, rebranding, etc., need to be monitored and not just left to run on autopilot. This allows you to see what is working and correct the mistakes before they snowball.
Social media monitoring tools allow you to see your campaign’s effect through your most valued performance metrics in real time.
3. Managing crises proactively
Proactive crisis management requires constant watch over social media. As discussed above, consumer sentiment is fickle. Add to that the high speed at which news travels across various channels, making it almost impossible to manage a crisis today.
But brands are doing it, and quite effectively so. For example, social media monitoring tools allow you to put out the embers or tame the fire of a crisis. Sometimes, brands can use the insights they have to prevent potential problems.
4. Identifying influencers
Social media monitoring tools can help you find the right influencers for your brand. This can happen spontaneously as you track a topic and notice the people driving the conversation. However, it could also be more strategic where you follow the activities of your target (s) to see if they fit the bill.
5. Understanding the competition
Your competitors are probably already monitoring your activities on social media and using the information to develop winning strategies. It’s fair game. You, too, can use social media monitoring tools to track their every move in real time. There are tools designed specifically for that, like our sister company, Rival IQ.
How Do Social Media Monitoring Tools Work?
Brands rely on tools because they can achieve the goals of social media monitoring much more efficiently than humans. Because of the tasks they are created for; modern social media monitoring tools are built with AI technology.
With AI, they can access vast amounts of newly created data, analyze it, and provide reports on relevant metrics. In addition, automation allows users to “set and forget” their target, whether it’s a keyword, a hashtag, or a URL.
The tool automatically and continuously scours the target data sources, constantly updating the dashboard with new developments. Reports may be generated periodically or on command, depending on the marketing needs.
Some of the most popular metrics to track include content reach, post impressions, audience growth, engagement rate, the share of voice, brand passion, and consumer sentiment. In addition, social media monitoring tools can be categorized into different types based on what they are meant to achieve.
Types of Social Media Monitoring Tools
Social media monitoring tools may be free or premium. There is also a third category of “freemium” tools that distinguish between those that are free because they are essential and those that offer premium features for free, e.g., most Google products.
Free tools may offer all their features or only a part with the option to upgrade. Premium tools provide their services for a fee, usually a subscription rather than a one-off price.
Some premium providers may allow potential subscribers a trial period which will enable them to use some of their features for free. Others may give a money-back guarantee, while others offer a tool demo.
That said, there are other equally, if not more, important aspects of social media monitoring tools that should be considered in the decision. Firstly, the device should have the right technology for the job. In 2023, you want AI-backed tools.
AI allows social media monitoring tools to access large amounts of publicly available data and automatically break it down through techniques such as machine learning (ML) and natural language processing (NLP).
Secondly, the proper social media monitoring tools are simple for their users. Choose a tool that provides a great user experience through an intuitive user interface and aesthetic appeal. With AI, the devices can generate beautiful data visualizations and customization on the dashboard and exportable files.
Thirdly, you want to be assured of technical support when necessary. The best social media monitoring tools will provide guaranteed, easily accessible customer service. Ultimately, choosing social media monitoring tools should not just be based on one aspect, like pricing but on what you want to achieve.
The Best Media Monitoring Tools
If you’re out shopping for social media monitoring tools and know what you want to achieve with your toolkit, this list may help.
Note that you may not need all of these tools, but it’s good to know what is being offered out there. In addition, the knowledge could help you ask the right questions the next time you are with a provider or demand more from your current toolset.
1. NetBase Quid
NetBase Quid is great for consumer and market intelligence gathering. Our platform is often listed among the market’s leading social media monitoring tools, not just today but historically – having been founded in 2004. We have also been named a leader by Forrester New Wave multiple times.
Our client list includes companies of all sizes, from renowned brands like Coca-Cola, Walmart, Lloyds Bank, and Boston Consulting Group (BCG) to little-known startups and regional SMBs. Across the board, our customers say good things about us. Check out the reviews on G2.
2. Rival IQ
Rival IQ – Premium with a free trial
Rival IQ is designed for social media competitive intelligence. One of its best features is social media monitoring, allowing users to collect and use information about their competitors in real time. It is also well suited for social listening –a collection of past rather than real-time data.
Other features include a Powerful dashboard, customizable reporting, and comprehensive analytics.
Brand24 – Premium with a free trial
Brand24 is equipped for tracking social media conversations. Its standout feature is its advanced filtering and organizational capability, which helps brands improve the quality of the data they collect. Other features include AI-based sentiment analysis, customizable reporting, and exportable reports.
Hootsuite – Premium with a free trial
Hootsuite is great for social media management. It has a powerful dashboard that makes it easy to see what’s happening on multiple social media accounts and provides content management features. It also allows direct audience engagement and offers performance analytics. It also gives recommendations on campaign optimization.
Awario – Premium with a free trial
Awario is loved for its capability to track brand mentions. You give it a target keyword (s) and it continuously monitors the target across various social media platforms. You can also give it negative keywords – targets to exclude from the search results.
Its unique feature is Awario Leads which helps brands generate leads and complete transactions on social media.
Mentionlytics – Premium with a free trial
Mentionlytics is also designed to track brand mentions on social media and across the web. In addition, it has content publishing features and provides performance analytics, including engagement. Its unique feature is the AI Social Intelligence Advisor (SIA), which improves the quality of data gathered.
HubSpot CRM – Free with premium upgrades
HubSpot is great for customer relationship management (CRM). It can monitor content performance and social media engagement. Designed as a CRM, it is equipped for capturing customer information. Brands can also use it to understand other aspects, such as the correlation between social content performance and sales.
Reputology – Premium with a free trial
Reputology is equipped with features for tracking reviews across social media and product review platforms. A powerful dashboard makes it easy to view vast data and collaborate with team members. To allow organizations to exercise their internal protocols while taking full advantage of the features, Reputology offers permission levels.
Keyhole – Premium with a free trial
Keyhole can be used to track hashtags and keywords on Twitter and Instagram. These are the two platforms on the internet with the highest rate of hashtag use, and thus, the tool is handy for brands that want to mine this data. It has great search functionality and excellent filtering features. It also has sentiment analysis capability.
Nexalogy – Free
Nexalogy is excellent for tracking trends on Twitter. It works by monitoring streams of conversations relevant to the brand and analyzing them to reveal where the trends are. It can also identify influencers by pointing out the people driving the most engagement on a platform or a topic.
Trackur – Premium with a free demo
Trackur helps keep tabs on the brand reputation across the entire media space, not just social media. It can be used to track brand advocates and detractors by analyzing data to reveal the influence of people making comments across social media
TweetDeck – Free
TweetDeck is designed to help brands manage multiple Twitter accounts from a single dashboard. It is a freemium tool for its specialization, offering advanced features such as tweet categorization and post scheduling. It also has a very cool feature known as sentiment-based search that allows filtering search results by positivity and negativity.
While gathering data may require different media monitoring tools, analyzing it to reveal insights is best done uniformly. Once it is collected, it should be integrated and viewed from one dashboard, i.e., create a single source of truth.
The media monitoring tools in this list are great at collecting data, but only one is designed to create a single source of truth: NetBase Quid®. It allows integration with third-party tools, including but not limited to the above list, and offers a powerful dashboard from which to analyze and interpret the data.
Instead of simply hearing about it, why don’t you reach out for a demo and get an expert to show you how it works?