We’re all using social media to help build our online presence on the various social sites to grow our businesses. Competitive analysis can be crucial for brands invested in social media, but it’s often overlooked.
Understanding your competition can help your business in many ways. One of the best ways to help develop a social media strategy for your brand is to assess what your competitors are doing. Here are 4 relatively easy tips for learning more about your competition while scouring their website:
- Identify Your Competitors: Find businesses similar to yours, but not limit your analysis to competitors of a specific size.
- Choose Your Social Networks: Start with the main social networks first: Twitter and Facebook.
- Analyze Competitor Profiles: A great social media campaign starts with solid social profiles and pages: What Wording, Images, Products and Services are your competitors using?
- Analyze Competitor Content: You will need to create content for your social media updates. Do your competitors use their own content, post updates, and engage with their audience?
These are just a few tips to give you ideas on what you should be tracking. They can help you to better understand what your competitors are doing on the social sites and how this is working for them.