Certainly, social media is a critical aspect for brands and marketers, but the significance of data and insights from social listening cannot be overlooked. At the e4m Martech India Conference 2022, a panel convened to discuss the nuances between social listening, analytics, and intelligence, the tools and technologies employed for social listening, what metrics to evaluate, and how to leverage social listening data, among other pertinent topics.
Ruhail Amin, Senior Editor at e4m & BW Businessworld, moderated the discussion, while the panel featured Sarthak Seth, SVP, Chief Sales & Marketing Officer at Tata Realty; Ashish Tiwari, CMO at Home Credit India; Lokendra Saini, COO at Ease My Trip; Gagan Arora, SVP Brand and Marketing at Pristyn Care; and Saurabh Agrawal, SVP Analytics and CRM at Lenskart.
Seth emphasized the transformation in consumer influence, stating, “Social listening is a necessary evil today. Two decades ago, consumers could influence at a ratio of 1:50, but today, every consumer can influence between 1000 to 50,000 people. The impact is massive. As brands, we cannot deny what consumers say about us across channels. Categorizing and understanding consumer feedback is crucial.”
Saini, representing a B2C-focused e-commerce brand, highlighted the importance of comprehending consumer sentiments, especially in a competitive market. He discussed the challenge of creating differentiation and shared insights gained through brand talk that occurs without direct mentions.
Drawing from the healthcare sector, Arora stressed the sensitivity of social listening in this domain, likening it to a room full of mirrors where lights cannot be switched off. He emphasized the gentle approach needed in the healthcare industry and how social listening aligns with the brand’s character and values.
Agrawal, offering a perspective from the D2C brand Lenskart, explained that social media data serves as a valuable source to understand shifts in consumer behavior. He mentioned the importance of measuring brand communication and engagement, as well as the insights derived from user-generated content to understand consumer preferences in a low-repeat category.
Tiwari provided insights on the broader perspective, stating, “Social media is about enabling millions of media houses, giving people an outlet to speak. Marketers are caretakers, and the brand is owned by consumers talking about it on social media. It’s not about social media; it’s about processes. People manipulate your brand in various ways, and marketers need to monitor this, even though there is no tool for that.”
In summary, the panel highlighted the evolving landscape of consumer influence, the need for categorizing and understanding feedback, and the strategic use of social listening data across different industries.