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Due to factors such as the digital revolution, cross-border political influences or financial liberalization, the pace of globalization has steadily increased in recent years. These developments have promoted the expansion of trade borders, investment opportunities, access to new markets and customers as well as the efficiency and productivity of companies among other aspects.
This ongoing development in the global economy has led to a higher level of competition between businesses in the international marketplace, which requires companies to focus more than ever on fine-tuning their business strategies to stay ahead.
In today’s “information era”, in which data and media content play a key role in business success, how can media monitoring meet the requirements of globalization to help companies succeed? Let’s take a look!
Media monitoring helps companies extract relevant data from media content and turn them into valuable insights. This information can help them evaluate important aspects of their business such as brand reputation, media presence or content strategy. It also offers the opportunity to observe competitors and the industry landscape and make well-informed decisions in order to gain a competitive advantage.
The first challenge that media monitoring faces is the need of observing the global information flow. Media monitoring tools allow to track media in every corner of the world. eMM clients, for example, can track radio and TV channels in more than 80 countries across five continents, allowing them to understand the global landscape of their industry, partners or affiliates in other countries.
The second major challenge of media monitoring on a global scale is language barriers. Although many countries have some English-language media, they are few in number and cover only a fraction of the relevant information broadcast in a country. Therefore, access to national and local media in the official language is essential if a company requires a holistic overview.
In order to overcome this challenge, many companies and PR agencies monitoring the media invest large amounts of money in third-party services or a team with the necessary language skills, who can set up multi-language queries and view or listen to the content and summarize it in the relevant language.
A clever alternative to this costly process are innovative automated media monitoring solutions based on speech-to-text technology (STT), natural language processing (NPL) or automated translation. eMM is the pioneer in this field: with its new AI-based tool it can not only automatically summarize media content and assign a sentiment to it but also delivers a translation into the desired language within seconds. The eMM Auto Summary feature is able to overcome the language barriers of the globalized market.
Another very frequent challenge among international companies has to do with time zones and time differences. Especially in crisis situations affecting several markets, timely notifications are crucial, no matter if the news air at 3pm or 4am. Media monitoring tools that offer real-time content alerts to users via e-mail, Whatsapp or the online platform are the way to go. In a global economy where market changes and information never sleep, being informed about any important information as it appears is essential to stay in the race.
In addition to linguistic and cultural challenges, another of the most difficult globalization-related challenges faced by companies is the coordination of teams working in different geographic regions.
Nowadays, this process has been favored by the development of online media monitoring platforms. However, there are clear differences between services: those that simply offer a tool accessible from anywhere in the world and those that also integrate functions specially created to make teamwork more efficient.
Features like the Editorial Workflow, developed by eMM, allow users to see if a piece of content is being or has already been worked on by another user and blocks it, preventing unnecessary duplication of work. This is a smart way to increase productivity and efficiency in international media monitoring.
Despite the challenges that can emerge from it, globalization has paved the way for today’s progressive and interconnected economy, bringing many new opportunities to companies and consumers! The key for companies is willingness and ability to adapt. If you want to learn more about our media monitoring solution and how our fantastic features can help your business compete in a global marketplace, contact us:
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