What is Media Monitoring and Why is it Important?
What is Media Monitoring & Analysis?
It is the process of reading, watching, or listening to the editorial content of different media sources continually, and then, identifying, saving, and analyzing content that contains specific keywords or topics. It was, at one point in time, a tedious process adopted by companies to manually go through different forms of media to check for any mention of their product or service. But in an era of digitization, media monitoring has evolved tremendously over the years, and monitoring across all platforms including print, social media, websites, television and radio where customer engagement is high, is easy.
Some organizations, also deploy monitoring tools to track the success of their news release, find information about competitors and specific issues relevant to the organization, benchmark performance against competitors, manage corporate or brand reputation, gather industry intelligence, better understand the strengths and weaknesses of corporate communications, identify new business opportunities, and for other purposes.
With technology growing leaps and bounds, media monitoring has now become automated and eases individuals of non-strategic tasks. It not just limits itself to the basic mentions of a brand, but also includes insights into the brand’s overall visibility on media, measuring the impact of campaigns and identifying opportunities, alerting the company on competitor activities, user thoughts about specific brands, topics, or products, tracking what customers say about the brand, and tracking how other companies react to actions.
Why is Media Monitoring Important?
With the hard data procured from monitoring, which includes details on where the company advertisements have been placed and where the company’s content has been posted, analysis can be done to get insights on the content, the industry, and the brand.
Media monitoring helps measure how the content, industry or the brand is portrayed in the media by means of tone/sentiment analysis. This tone is normally categorized as positive, negative, or neutral.
Media monitoring helps save a lot of time and lets companies develop newer strategies and plans for the future. The ability to generate reports based on data analysis like the reach, intended reactions, etc., acts as a great source for decision making and helps achieve concrete results.
Getting to know the latest developments in the industry through media monitoring, helps in better strategic planning, and enables companies to take quick actions. It also helps in understanding competition better and takes cues on setting up business priorities and outlining plans for growth.
Related keywords help identify trending topics and come up with creative ideas and different perspectives when writing content, thereby enhancing reach and visibility.
With the need to understand what’s happening around being vital to long-term success, media monitoring helps companies stay up to date with the latest trends without having to spend too much time or resources on it.