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Systems and methods using multi-electrode configurations for characterizing fluids in subterranean formations during various treatment operations are provided. In certain embodiments, the methods comprise: placing a tubular base structure having a multi-electrode configuration disposed thereon in at least a portion of a well bore penetrating at least a portion of a subterranean formation, the multi-electrode configuration comprising at least first and second electrodes with a dielectric layer between the tubular base structure and the electrodes; collecting electromagnetic measurements using the multi-electrode configuration; and processing the electromagnetic measurements to obtain a characterization of at least one fluid in an annulus between the tubular base structure and an inner wall of the well bore. The first and second electrodes of the multi-electrode configuration may be oriented along non-parallel planes and/or positioned at different heights from an outer surface of the tubular base structure.