When Media Monitoring May Not Be Necessary: Let’s Find Out

Media monitoring is not a new concept. It dates back to the early 20th century with the advent of print newspapers. Back then, people would clip out articles, compile them, and send them to clients.

As media outlets multiplied, so did the workload for those tracking them. The real game-changer came with the rise of social networks, which transformed the media landscape.

Today, the volume of information about companies, individuals, and communities continues to grow rapidly. Tools like Metricom help businesses track and understand what is being said about them and their competitors, providing valuable insights into market trends and public perception.

How to Use Google for Market Research

Gathering market information using open-source tools can give you a comprehensive view of the companies you are interested in. Here is a practical approach to studying a new market:

- Explore the Market and Key Players: Use Google to find ads and articles about companies in your target industry. Identify the main players and analyze their advertising strategies and pricing. This will help you estimate ad costs and plan your advertising budget.

- Examine Competitors’ Social Media: Look into your future competitors' social media presence. Note the topics and formats they use and their audience’s response. This will guide you in planning your social media strategy, including staffing and budget needs, in line with current content trends.

- Analyze Company Websites: Review how companies generate leads, where their links direct users, and whether they provide pricing information. This insight helps you understand market trends and company strategies.

- Check Job Listings and LinkedIn: Investigate the job openings at these companies to gauge their development plans, projects, and new directions. LinkedIn profiles can also offer valuable information about company growth and focus areas.

- Review Press Releases and Official Reports: Look at press releases and, for public companies, their stock exchange reports. The IPO report often includes valuable market analysis.

- Monitor Media Coverage: Analyze what is written about these companies in the media, their employees' posts on LinkedIn, and what company spokespeople share.

While this market research method is free and DIY, keep in mind that it can be time-consuming. For a more thorough analysis, consider delegating this task to a professional service, as interpreting and gathering such a large amount of information requires significant effort.

The Link between Customer Volume and Media Mentions

In the B2C sector, there is often a clear link between a company's market share and its media mentions. Typically, a company with a larger market share will have a higher share of voice in the media. While the exact percentages might not match, the ratio generally reflects the company’s market dominance. For example, leading companies have more coverage and are frequently mentioned compared to smaller competitors. Their press releases are also picked up faster because they already have established recognition.

However, media and social media mentions are not always positive. For large companies, isolated negative mentions among a vast customer base usually do not warrant major concern. Being widely talked about, even if not always favorably, keeps your brand top of mind. In this case, there is no such thing as bad PR—more mentions keep you visible.

This dynamic is different for B2B companies, which often operate in more specialized and less visible sectors. Because their products are not as widely accessible for testing, they find it harder to gain media coverage. To boost their media presence, B2B companies can position their managers as experts or engage in industry rankings to increase visibility.

When Media Monitoring is Essential—and When It Isn’t

For small businesses like coffee shops or service stations, simpler tools often suffice. Chatbots and automatic social media notification services can usually handle their needs effectively.

As a business grows, its monitoring needs evolve. Startups seeking investment, for example, should consider monitoring to track news about their sector, competitors, and public perceptions—investors will research these areas before making decisions. Similarly, businesses launching new products or communications will benefit from monitoring to assess initial reactions.

Medium-sized businesses, on the other hand, should be mindful of the volume of media mentions they receive. When mentions exceed 30 to 50 per month, manual tracking becomes impractical. At this stage, monitoring services can help manage the volume and provide insights into competitors' media activity.

Non-profit organizations also find monitoring valuable, especially when communicating significant societal reforms or changes. It helps them understand public reaction and identify opposing viewpoints. Political organizations and parties, too, use monitoring extensively, particularly before elections, to study public sentiment and adjust strategies accordingly.

In summary, monitoring may not be necessary in the following cases:

- Small businesses in early stages where monitoring is not cost-effective.

- Businesses where public perception has little impact on operations or strategy.

- Companies needing specific monitoring, such as tracking only mentions of a particular individual due to a past issue.

- Businesses with minimal media presence or coverage, where monitoring would not yield useful insights.

Overall, monitoring is unnecessary for businesses or organizations with minimal or no media coverage.

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