5 Questions to Ask Before Investing in a Media Monitoring Tool

Perri Robinson
22 March 2016

A media monitoring tool is increasingly becoming the must have accessory for every communication professional. Companies are relying on such tools to shed light on a range of situations, for example:

  • Analyses of brand or executive mentions
  • Tracking the success of press releases
  • Competitive and trend analysis
  • Performance reviews
  • Crisis communication

Whilst having a media monitoring tool makes our jobs a whole lot easier, the search for the perfect one can be a painstaking process. So, to help kick-start the search, here are five important questions to consider before making an investment.

Do I need a media monitoring provider who tracks global content?

The answer to this question depends on the company needs, and therefore varies from business to business. Just because a brand is only mentioned locally doesn’t mean to say its competitors are in the same boat and if competitive benchmarking is the aim, global should be the game. If industry trends and though leadership is a priority then it’s also important to look beyond local waters as trends aren’t confined to one region. Whilst there may not be a need for global coverage at the moment, it only takes one post to go viral for things to change. Consider a provider who offers global media monitoring and access to a vast range of news and social media sources to avoid having to repeat the search for another tool if the situation does change.

Does the provider offer local support?

Knowing that the media monitoring provider has your back during a time of need (and during local working hours) is the perfect comfort blanket. If a crisis was to explode, waiting until the other side of the world has woken up and come online just isn’t good enough. During the search for a media monitoring tool, ensure local support needs are considered. Local support allows users to benefit from faster response times, expertise of domestic markets and similar industries, as well as providing the opportunity for face to face consultations.

Is there a one-stop-shop option available?

Having a one-stop-shop media monitoring tool that offers online news, print, TV, an influencer database, radio and social all under one roof will heavily streamline the reporting process though the analysis of comparable data. The look and feel of reports will be very similar, the setup and collation of data more efficient, the cost of having 1 platform rather than 3 is cheaper… oh, and a few less passwords to remember!

Can we create customised dashboards?

We shouldn’t be reporting for reporting’s sake. Reports should be meaningful, to everybody involved. By investing in a media monitoring tool that allows personalised dashboards, we’re able to remove irrelevant content that our boss isn’t interested in seeing. Meltwater’s media intelligence platform offers fully customisable dashboards in a visually appealing format, and in real time. We’ve moved beyond static graphs and into media intelligence that constantly ticks over by analysing in the background. In effect, the interactive dashboards keep a finger on the pulse of all campaigns running. Efficient, you could say.

Can we access retrospective data?

Past data is just as important to us as current. By investing in a media monitoring tool that offers an archive option, we’re able to benefit from organising data for benchmark purpose by region, event or competitor, for example. Moreover, if you decide to leave the provider you know the data isn’t lost and can be easily accessed if needs be.

There are a ton more questions we must consider when investing in a media monitoring tool, but the above 5 are a great place to start when screening potential providers. Contact a Meltwater consultant here and learn more about how a tool can help take your marketing and PR efforts to new heights.