Blog Post By: Ellen Joppe
Through a social media profile, you can see what, where, and when your competitors are posting online, and if you keep an eye on the right things, it will help your company create an even better social media strategy. These are the interactions and behavior you should be watching:
When are they posting?
Has it been a few weeks since you posted on your business’ social media pages? Have you come to the conclusion that frequent posts are a waste of time? We encourage you to check out your competition’s pages. You’ll likely find the most successful accounts are posting several times a week. Keep track of when (what days/times) they are seeing the most interaction to develop a more effective and consistent posting schedule for your pages.
Who are they targeting?
Competitors can exploit many different methods to target a specific audience. Your company can analyze the language and images being used within their posts to determine who your competition’s target demographic is on social media. It’s possible you’re not seeing the social media engagement you want because you’re talking to the wrong audience.
What channels are they using?
Have you been thinking about expanding your company’s social media presence into other networks? Before you waste any time, effort, or energy, see if your competition has built successful interactive communities through the channels you’re considering. If they have, it’s definitely time to embrace them!
Has their branding changed?
By monitoring your competition’s social media pages, you’ll be first to know when any elements of their brand are changed. If you’re aware of the messaging your competition is projecting to prospective and current clients, you will be able to better separate and position your own brand within the industry.
How are they gathering market research and feedback?
Many businesses conduct polls or ask informal questions through their social media accounts. You can also benefit from any of the answers that are made public. For example, if there is a need your competition is unable satisfy (that your company can), consider advertising your product or service to their target audience.
As you can see, competitive analysis and research is made easy with social media. However, if you find that additional expertise from a marketing professional is needed to create a competitive and effective presence through these channels, we encourage you to give Baer Performance Marketing a call at 920-632-7648 for a free social media consultation!
Sources:
http://www.business2community.com/social-media/10-things-competitors-can-teach-social-networking-0833112#!bp0GzI
http://www.asigra.com/blog/7-things-your-competitors-can-teach-you-about-marketing-your-cloud-backup-services
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