What is social listening?
Social listening is an opportunity familiar to many, but still untapped by the overwhelming majority. At a time when people’s digital presence has reached unprecedented levels, one of the pillars of business success is how to leverage the almost unrestricted and instantly available abundance of digital data.
The essence of social listening technology is that companies find, understand and utilize large amounts of relevant data generated online and in social media. Whether it is customer management, product development, sales, recruitment or campaign efficiency, social listening can fundamentally change the way companies do business.
How can PwC assist you?
PwC’s team of experts has provided a variety of social listening services to its clients in many industries in recent years. In our work, we solve challenging business problems for our clients by combining the best domestic practices with international experience.
Measuring and improving customer satisfaction
- By using social listening tools, businesses can assess customer needs faster, cheaper and without distortion, and build on the results in business operations, and in product and service development, leading to increased customer satisfaction.
Product and service development, concept validation
- More accurate knowledge of customer needs enables the development of products and services that serve the needs of customers at a higher level, significantly improving their marketability.
Detecting attrition, and customer retention
- By using customers’ comments in social media related to a company’s products or services, the company can immediately identify a defecting customer and intervene immediately.
Monitoring competitors
- Social listening allows businesses to track their competitors’ online activities and user responses in real time.
Market research
- In contrast to focus group- and questionnaire-based surveys, market research based on social listening provides a real-life, more accurate, faster and more affordable solution.
- Social listening research can be used as a complement to traditional surveys to give a complete picture of the market.
Trend tracking and forecasting
- The methodology provides an opportunity to measure not only the performance of a brand, a company or a product, but also to track long-term trends in a particular market or segment, and to predict market trends.
Customer acquisition
- A deeper understanding of customer needs, competitors and market processes assessed online allows businesses to effectively identify and solicit new customers and optimize their product offerings.
Crisis management
- By setting the right parameters, social listening tools can detect potentially suspicious online activities (such as phishing attempts, product issues) and escalate the problem to the appropriate corporate department.
Employer branding
- The increasing competition for employees makes it essential that companies understand customers’ perceptions of their business. In order to conduct effective recruitment, it is extremely important to recognize the perception of potential and existing employees as soon as possible, and make improvements where needed.
Real-time, multi-platform complaint handling
- Real-time customer feedback and complaints channelled from online platforms are automatically categorized by the company’s customer support staff who are able to respond in real time.
Customer service supported by robo-chat and artificial intelligence
- Businesses can complement their customer service with advanced technology solutions through a social listening platform.
- Using robo-chat bolstered by artificial intelligence, it is possible to handle customer inquiries, complaints and feedback received via any of the company’s channels, without human intervention.
Integrated social CRM service
- Companies can integrate the diverse solutions offered by social listening into their systems, gain a comprehensive picture of their customers, and support their existing CRM processes, with a reduced time and cost overhead.
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