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Will Social Listening Grow Your Business?

In today’s social media world, it’s vital for businesses to understand how their customers think. Companies must consider what their current and potential customers want, need, and think about in order to compete with other businesses. One of the most effective strategies to achieve this is through social listening. Keep reading to learn what social listening is and how it can revolutionize your business!

How do you “Socially Listen?”

Before we can understand how to “socially listen,” we have to know what social listening is. Social listening is the process of monitoring social media channels for mentions of your brand, competitors, product, and more. When executed correctly, this will provide companies with a clear understanding not only of what their client thinks about the company, but about the industry as a whole. There are three steps to social listening:

  1. Monitor social media: Find out what people are saying about your company and the industry. Search for keywords, mentions of your brand, mentions of competitors, products, and so on.

  2. Analyze the information: Consider what you uncovered through social listening. Were there frequently made opinions or ideas?

  3. Put it into action: Take what you learned and act on it!

Let’s apply social listening to a bakery that sells only pastries. The bakery wants to increase their sales, so they try out social listening to discover their target customers’ wants and needs. They post polls online, read articles about the industry, and consider how their competitors are performing. The bakery finds out that people online are obsessed with cookies right now! In response to this discovery, the bakery takes action by selling cookies in the store. Now, the bakery is growing its customer base and making double the sales!

Social Listening in Real Estate

Although baking and real estate are very different industries, we can still use social listening in both! Let’s apply the three steps to social listening to a hot topic in real estate: low inventory.

  1. Monitor social media: People online are talking about the state of the housing market. They’re concerned about finding an affordable home that meets their needs.

  2. Analyze the information: From research and experience, you know that the market is in a tough spot right now. However, your research tells you that experts project a positive change in the near future.

  3. Put it into action: You record and post a short video talking about the experts’ projections for the market. You end the video with a “call-to-action” encouraging people to reach out to you for real estate help.

Can Social Listening Grow Your Business?

In real estate, it’s not always possible to change “products” or services to meet your customers’ needs. However, agents can use social listening to provide valuable information or knowledge to their customer base. Agents should seek to understand what their clients might be looking for in order to successfully engage with them online. Unsure about how to get started? Here are some simple tips to start social listening:

  • Listen for industry-related words and topics

  • Listen in the right places (Example: Instagram, Facebook, LinkedIn, etc.)

  • Narrow your search

  • Consider your competitors

  • Share your social listening results

  • Always be ready for changes

Contact the RE/MAX Metro team for more information or tips on how you can improve your social listening!

Upcoming Local Events

Localtopia is back for 2022! Join “Keep St. Petersburg Local” in the biggest Localtopia yet in Williams Park on Saturday, February 12th. From 10:00 AM to 5:00 PM, some of the most amazing local businesses in St. Pete will gather together to celebrate the unique, vibrant character of the city and its amazing citizens. The free event will host countless merchants, vendors, food, and music. You don’t want to miss out on the celebration!


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