I know what you’re thinking, monitoring? Important? Really? Yes. Organizations that fail to effectively monitor can lose out on valuable insights that could steer business in a favourable direction or could result in a missed opportunity in preventing a reputational challenge.
Here are three key reasons why monitoring is the foundation of any effective communications program:
1. Can inform accurate and effective counsel to clients
When working in a communications firm, unless a role or agency is niche and specialized, it’s imperative that we are “Industry experts” on a range of sectors such as fashion, finance, health and wellness, insurance, and more. While most PR practitioners are media junkies who are up on the latest news and trends, without a proper monitoring program in place, industry and competitor updates are inevitably missed. This knowledge gap can lead to ill-advised and costly mistakes when counselling on campaign strategies, interviews, and issues management. Proper monitoring provides a constant flow of information on all things relevant to the client and thus, allows PR teams to work with greater efficiency and accuracy when counseling the client – in turn, maximizing the client’s ROI.
2. Become a go-to for clients when building plans and strategies
In addition to being able to properly counsel clients, practitioners who spend their days with their ear to the ground as they put together monitoring reports become a go-to for the clients. As clients are busy strategizing and planning, they typically turn to their agency partners to keep them informed on industry and competitor news. A well-informed team is an effective and valuable team.
3. Directs management decisions
Organizations depend on receiving timely, relevant information regarding their business as well as industry and competitor updates. For example, the ability to catch a crisis or growing issue early on gives communications firms more time to formulate a plan of action and even reduce the impact of negative brand reputation. As well, if many industry competitors begin rolling out impactful programs such as rebates or climate initiatives, it is imperative that clients and agency partners are in-the-know to remain competitive and pivot strategies to avoid loss of market share. It’s vital that brands and companies continually differentiate against there competitors to maintain or gain market share and share of voice.
In an industry where data and knowledge are key to success, monitoring truly is the foundation of every successful PR team.
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Aaron Short is an Account Coordinator at APEX Public Relations