Every marketing company worth their salt these days is touting the benefits of social media.  And we would be hard-pressed to find the owner of a company – large or small – that doesn’t recognize the benefits that social media offers.

But what we often find when we sit down to discuss social media with clients is that, while they understand they should be participating (and often already are in some form), they don’t have the slightest idea what to do once they join in the conversation.  They blog, they post, they update – but they rarely listen.

Listening in the social media-sphere can be difficult; even daunting.  But with a little practice and a lot of discipline, you’ll find that monitoring social media is absolutely crucial.  And well worth your time.

Here are 5 easy steps to your social media listening strategy:

• Who is talking about you? And just as important – what are they saying when they talk about you?  How often do they talk about you?  A quick and simple Google search for your company, staff and products can offer a wealth of information.

• What is going on with your competitors? You can easily learn what your competitors are up to through monitoring their social media efforts.  And a bonus: often you can build on their ideas (Be careful here – only use their ideas to spark ideas of your own.  You don’t want to be accused of copying what they do!)

• What are your own people saying? In any company that has a staff of more than one person, it is vital that you stay on top of what is being said.  Again, caution is necessary as you don’t want to be controlling.  But remember, each time an employee speaks, they are speaking for your company.

• What new products are available? By “listening” to social media often, you can get a firm grasp of new products, thoughts and ideas that would impact you.  Being an early adopter of new ideas and products in your market set you up as a thought-leader and expert.

• What return can you get from your investment of time and energy? There are very few actions in your company that you perform on a regular basis without knowing the return you get on them.  Social media monitoring should be no different.  With some careful attention to detail, you should be able to see what benefit monitoring has on your business.

If you are participating in social media, but have no real answer to any of these questions, then you aren’t receiving the full benefits that social media has to offer.

In your excitement to dive into the waters of social media, don’t forget to constantly be evaluating, monitoring and listening for the benefits.  It will give you much-needed direction as you chart waters that may feel unknown to you.