Your brand name is your reputation. Nothing is more important – Richard Branson
More often than not, people don’t fully understand what we do when we say we are in media monitoring. Media Monitoring is so much more than just monitoring what is in the media.
Brand reputation management has become one of the most important facets of any business in today’s society and marketplace alike. Transparency has become inextricably linked to the concept of reputation management, we see this in consumer behaviour changes, communication improvements and technological advancements. In the ‘transparency tyranny’ the power of this trend is likely to unmask, outnumber and consequently neutralise the fake and desperate brands (http://trendwatching.com/trends/pdf/2007_05_transparency.pdf). Consumers today want AUTHENTIC brands, they want brands that are willing to own up to their mistakes. They want brands that are transparent!
Media Monitoring is not perfect, it’s a team effort between Client, their Agency and the Media Monitoring team behind the brand, it centres on the principle of what you put in, is ultimately, what you will get out. The only way to truly know your brand reputation in the marketplace is to LISTEN. Media monitoring is a means of doing this, but it doesn’t stop there. Strategically, brands need to take the gift of listening and knowledge, and then convert it into actionable business insights, essentially – taking the data and making it tangible.
Given technology and the rapid advancement thereof, one has to wonder why a business makes the conscious decision not to maximise the opportunity to interact directly with those who consume their brands, and more importantly, share those experiences with others in their communities and circles. Through media monitoring, one is able to successfully manage the consumer experience and foster positive brand associations. Media Monitoring has to go deeper than the simple collection and distribution of published media material, it should assist with informing a brands strategic direction and intent. Media Monitoring gives you the power to become an early adopter within your market place, it provides insight into what is happening in the macro and micro environments in which your brand operates.
Ultimately the power of the intelligence that media monitoring provides can enable a brand to move strategically in the direction of owning the product category and becoming best-of-breed. Yes, there are a whole host of other facets that will give you the power to ultimately reach this point and to maintain it, but media monitoring provides the foundation.
Without the intelligence and insight behind the data, and with poor methods of data collection, the data is essentially rendered useless. You cannot fix or create something you don’t know about. You know your brand and business better than anybody, by working hand in hand with a market intelligence agency, together this creates a formidable force that moves your brand from strength to strength.
All too often, brands don’t realise the value in media monitoring, and as Andrew Hutchinson rightfully states, the knowledge provided by media monitoring opens up new perspectives, it’s all about the value of knowing (https://blog.hootsuite.com/social-media-democratisation-media-monitoring/).
One has to ask oneself… what is the value of knowing?
Media Monitoring is more than just the collection and distribution of data, well, at least it should be! In a complex environment where the consumer is central to the success of any brand and its reputation, we think it’s safe to say that every company needs media monitoring!
The power of knowledge comes with responsibility. A brand can choose not to listen, but the impact of this decision is far reaching. We listen to your consumers and non-consumers so that we can assist you with not only breaking through the clutter, but fostering a brand love within your target market arena.