Social Listening – A Review and its Use for Customer Engagement & Customer Retention by Organizations

Social Listening – A Review and its Use for Customer Engagement & Customer Retention by Organizations

Prof. Ruchika Garhwal (Asst. Prof. at Indira School of Business Studies ,MBA ,Pune)

Dr. Sunil Dhanawade ( Director at Dr. D. Y. Patil Centre for Management & Research ,Pune)

Abstract

In today's digital age, social media has emerged as a vital platform for businesses to connect with their customers. As of July 2023, there are 5.19 billion internet users worldwide, which amounted to 64.6 percent of the global population. Of this total, 4.88 billion, or 59.9 percent of the world's population, were social media users (Source : Statista ). Tech and policy think tank Esya Centre has found that daily engagement of Indians in terms of time spent is the highest for social media at 194 minutes a day. This number for OTT and Online Gaming stands at 44 minutes and 46 minutes, respectively. Thus it has become important for organizations to be available on these social media platforms to connect with customers. Presence of organizations on Social media platforms has helped companies connect with common people , end users. Social listening, the practice of monitoring and analyzing online conversations and discussions, has gained significant attention as a strategic tool for understanding customer sentiments and preferences. This research article presents a comprehensive review of the concept of social listening and its pivotal role in enhancing customer engagement and retention strategies.

To provide a comprehensive perspective, the article also mentions about various organizations that have successfully integrated social listening into their customer-centric strategies.

In sum, this research article sheds light on the role of social listening in customer engagement and retention by making use of the insights derived from social listening.

Keywords: Social Listening, Social Media, Customer Engagement, Ethics