If you're using social media for business, you need a social media monitoring strategy. Period. Here's why and what to do about it.
If you can't answer these questions, then you're flying blind. That may be fine if you're just experimenting with social media, but if you really want to apply it to specific goals, you will need a strategy.
The bottom line is that there is a tidal wave of social media data being produced every second. You need to be able to filter this monster in a reliable, predictable way in order to glean valuable information. There is no one-size-fits-all. Your strategy and toolkit depends on your business goals, size of your market, size and experience of your team and, of course, budget. Importantly, it's not just about the toolkit. You need people assigned to the task of monitoring and policies in place to manage the flow of social media interaction. We can break the toolkit down a bit by looking at the overall scope of your social media program.
Last but not least, there's assessment. You need to evaluate your program early and often. You have the tools to measure the buzz about your company, products and people. How are you doing? What adjustments can you make to your strategy to improve performance? Where do you go from here? Now you're well on your way to building one of those success stories you hear about every day.