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If you’re not an essential service, chances are that you’ve had to close or decrease your business for the last two months. To ensure you’ll hit the ground running once quarantine is lifted, you should be social listening.
“Social listening is the monitoring of your brand’s social media channels for any customer feedback and direct mentions of your brand or discussions regarding specific keywords, topics, competitors, or industries, followed by an analysis to gain insights and act on those opportunities.”Hubspot
I would expand Hubspot’s definition of social listening to include scanning the wider social media landscape outside of your own channels.
Your Customers are Changing.
According to a 2009 study in the European Journal of Social Psychology, it takes an average of 66 days for a group of people to form a new habit in their life. As of this blog, it has been 57 days since the Ontario state of emergency was declared on March 17, and it will be in effect until at least June 2.
This means you need to completely re-examine your understanding of your customers’ product preferences, spending patterns, and moods.
People make purchases based on their values, priorities, and sense of identity. A big change in society like a pandemic is certainly going to change how we feel about our own sense of security. For example, I believe there will be a shift toward more long-lasting, higher-end products, now that we’ve had to do without repair or replacement services. I also believe there may be a desire for beauty over cost-saving, thanks to days and weeks spent staring at our interior decorating choices.
“The CDC and World Health Organizations are stressing the importance of proper handwashing and doing it often. This is bound to influence people to live healthier lives, which is a win for retailers selling healthier foods and sustainable products. It will move consumers to evaluate things from a different perspective.”Michael Barbera, Chief Behaviour Officer at Clicksuation Labs via Forbes
Following social media will help inform your future product offerings. Image-based platforms like Instagram and Pinterest will show you what consumers are looking to buy once the pandemic is over. Tracking relevant hashtags will let you peek into consumer conversations – are they experiencing frustrations with certain types of products or services? What are they turning to right now?
Following online conversations will keep your content relevant. Customers are being bombarded with COVID-19 announcements from every business they’ve ever subscribed to. Don’t be yet another generic email in their inbox. Take those frustrations that you’re seeing on Twitter or Reddit and provide solutions.
My optometrist recently emailed me with methods to reduce eye strain from increased screen exposure. They have examined their audience's new daily routines and recognized an issue that needed to be solved. This is exactly the kind of content I want to see - topical, useful, and relevant to their core service.
Listening to your customers can provide opportunities. By following your followers, you may come across a non-profit that is supporting people in your industry, or influencers who might be open to a collaboration. It’s a great time to build partnerships and genuine relationships.
Your Competitors are Adapting.
While you’re doing your daily social listening, don’t forget to check out what your competition is saying and selling. If they have caught wind of a new trend or are planning a new product line, you’ll probably see hints of it in their social media.
The most obvious change that many businesses are taking advantage of is an increase in online spending. According to a survey of over 1,500 people on March 20, 24% of Canadians planned to increase their online spending during the coronavirus. After this is all over, many of those people will likely continue their newly formed habit of online spending, thanks to simple convenience. They’ll be expecting easy-to-navigate e-commerce sites, free shipping, and smart tools such as recommendation algorithms. Now might be the perfect time to start building your online shop.
I’ve seen many local businesses partner with each other and local charities during COVID-19. For example, Pressed For Time Panini has used Instagram to participate in collaborative giveaways and the Guelph Box subscription service. You never know where ideas will come from.