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Media monitoring is one of the components of competition monitoring. The basic idea is that you select various monitoring targets, then do a periodic sweep through various media channels to see how many times whatever you’ve selected for is being mentioned.<\/p>\n
Reasons & Uses<\/strong><\/p>\n By itself, simply counting the number of times this or that is mentioned is interesting, but not terribly useful. What makes it useful is when you begin to get more systemic and deliberate about it. In an ideal world you should tie these mentions to a specific metric.<\/p>\n For example, if your business is competing for the search term \u201ciPhone case\u201d and you’re tracking the total number of times your company is mentioned in the context of that keyword versus the number of times your chief competitors are mentioned, then one of the things you want and need to be able to track is the change in search engine rankings over time, relative to those terms. It is only by parsing the raw data with this kind of tangible metric that you get actual, useable, actionable information.<\/p>\n What’s Not There?<\/strong><\/p>\n The other best practice in terms of monitoring is to get a sense for what’s missing. By this, we mean, is there a conversation happening in the media that should include your company or brand, but your company or brand is conspicuously absent? If you spot such an instance, then you’ve identified a missed opportunity. If you identify it early enough, you’ll have time to correct in mid stream, get a presence out there and become part of the conversation. The point is that you would never even have known about this lost opportunity had you not been specifically looking.<\/p>\n This then, is one of the mechanisms by which market share is increased, and it underscores the importance that media monitoring can play in that never ending quest.<\/p>\n