This isn’t rocket science, but it is more than just participating in social media for customer service purposes.  Listening is just that – listening to what is being said about your company, products, and industry.  What are customers, prospects, and influencers tweeting about?  What are they posting on LinkedIn?  What questions are being asked on Quora?  What is happening on Facebook?  What are bloggers writing about?  These questions can all be answered if you are listening!

Listening can lead to the following benefits: Help identify influencers.  By monitoring what is being said about X online, you will be able to identify thought leaders who consistently blog, tweet, and post valuable content for your target audience. Identify opportunities.  This is sort of obvious, but if your company is not listening, there will be missed opportunities in product development, customer service marketing, and on and on. Develop your personas.  Many marketers know that all effective strategies are targeted towards specific personas.  Smart marketers know that personas are more than simply titles.  By listening to what is being said only, you may be able to flesh out issues, pain points, interests, and goals that will add more life into your personas.

Now go listen and engage!  This is more of an important role than you may think.  And it takes time!  Joe recommended to our portfolio company that it should have someone spend about 50% of his or her time on listening and participating online.