Retail Sales Promotion, 7-1 Discussion

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University of Nairobi *

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1020

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Marketing

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Nov 24, 2024

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Uploaded by PrivateGoldfinch122

1 Direct Marketing Student’s Name Institutional Affiliation Course Code and Name Professor’s Name Due Date

2 The advent of the digital age has revolutionized the retail landscape, with social media platforms becoming powerful channels for brand exposure and customer engagement. To navigate this dynamic realm effectively, retailers increasingly turn to specialized companies providing social media monitoring services. The following are two prominent companies in this domain, Brandwatch and Hootsuite, and discussion of how retailers can utilize their services to monitor products and optimize advertising strategies. Brandwatch Brandwatch enables retailers to track and analyze brand and product mentions on various social media platforms. Retailers can set custom alerts for real-time updates on product discussions, along with sentiment analysis for understanding customer perception (McGuirk, 2021, August 19). This facilitates prompt customer engagement, allowing retailers to respond swiftly to both positive and negative mentions. Such rapid responses contribute to crisis management and bolster a positive brand image. Moreover, Brandwatch aids in identifying influential individuals discussing products, potentially leading to influencer collaborations and extended reach. Hootsuite Hootsuite, known for social media management, also offers strong monitoring capabilities. Retailers utilize it to track relevant keywords and hashtags, staying updated on trends and conversations about their products. This real-time monitoring provides valuable market insights. Retailers can leverage Hootsuite for informed marketing strategies by identifying popular topics and audience preferences (Macready, 2023, September 14). It facilitates tailored advertising content to effectively engage their target market. Additionally,

3 Hootsuite enables competitive analysis, aiding retailers in refining marketing approaches by understanding their product's positioning compared to competitors. Leveraging Social Media Monitoring Through the diligent use of platforms like Brandwatch and Hootsuite, retailers can engage with customers in real time, conduct insightful market research, collaborate with influencers, manage crises effectively, conduct competitive analysis, and generate relevant content. These aspects collectively contribute to enhanced brand visibility, increased customer engagement, and ultimately, augmented success in the competitive retail landscape. In conclusion, the emergence of social media as a dominant advertising platform necessitates efficient monitoring of online conversations and trends. Companies like Brandwatch and Hootsuite serve as indispensable tools for retailers in achieving this objective. By harnessing the capabilities of these platforms effectively, retailers can not only monitor their products comprehensively but also devise and implement advertising strategies that resonate with their target audience, ultimately contributing to the growth and success of their retail ventures.

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4 References McGuirk, M. (2021, August 19). Performing social media analytics with Brandwatch for Classrooms: a platform review. https://doi.org/10.1057/s41270-021-00128-5 Macready, H. (2023, September 14). Social Media Intelligence: What It Is & Why You Need It. Retrieved from https://blog.hootsuite.com/social-media-intelligence/

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