These conversations create massive amounts of user-generated content (UGC) and data. Nearly 80% of people admit that UGC on social media significantly impacts their purchasing decisions. Thus, top brands are figuring out ways to unlock insights from user data and gain a competitive edge.

Customers interacting with your brand on social channels expect you to listen, engage, and respond to them. A lack of response can result in a loss of trust. Therefore, a good growth and retention strategy must involve meaningful connections with your customers and targeted marketing campaigns.

Here’s how you can use social media to benefit your brand:

• anyone involved in product or service development using Scrum methods – developers, testers, Product Owners, Scrum Masters, and line managers
• newly created teams where members have some previous experience using Scrum but need to create a shared understanding of processes and practices
• anyone helping or participating in agile transformation in their organization

Use social listening to connect with the right audience

Millions of conversations happen every day on the internet. It is impossible to manually filter out spam and keep track of conversations that matter.

Social listening refers to the monitoring and analysis of conversations on social channels relevant to your brand, industry, and customers, using a capable AI-based tool. It offers you an in-depth understanding of customer sentiment — and how that affects your business. Based on the detected sentiment, you can provide relevant and prompt responses at scale.

Identify growth opportunities through competitive benchmarking

To stand apart in a competitive marketplace, today’s enterprises need to listen in real time and act fast on actionable insights. But large volumes of unstructured data — scattered across a broad spectrum of modern channels — prevent many businesses from properly benchmarking and rising above the noise.

You can leverage publicly available social media data through competitive analysis to learn what your competitors are up to. If done correctly, competitive benchmarking can help you.

You can often spot the shift in customer expectations by gaining insights into the tone, sentiment, and intent of customer conversations, on social channels. Once identified, tend to the changing expectations of customers and use the data to stay ahead of the competition.

Customer insights allow your product teams to develop new features and products, bridging the gap between industry availability and unmet customer needs. These can be opportunities for your brand to achieve growth through innovation and be a market leader.