Analyzing Your Competition’s Social Media Efforts
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Have you checked out your competition’s online presence lately? Your competition can give you a lot of insight into your own company’s audience and how you can improve to make your business even more profitable. One way to do this is to analyze your competition’s social media efforts. Here’s how:
Follow them on social media – Take note of how your competitors use each social media network to give information to their audience and how they get more followers.
Sign up for their email lists – By receiving your competitors’ emails, you can see how they are using their email lists in conjunction with social media to market their products and services.
Read their blogs – Frequently check your competitors’ blogs to read their latest news and advice. Add their blogs to your RSS feed so you can keep track of the information they’re disseminating to their audience.
Notice what they share on social media – What does their goal seem to be on social media? Do they direct you back to their email lists, blogs, other social media accounts, or something else?
Find out how they get people to like or follow them – How do your competitors incentivize their audiences to like or follow them on multiple social media accounts? Are your competitors sharing the same information on each social media network?
Note when they send updates – Track how often your competition sends out updates, whether on their blogs, on their social media accounts, or through their email lists. And note the time of day your competition sends out updates.
Review how their audiences react – Take note of how your competitors’ followers engage with the companies’ based on their social media updates.
As you analyze your competitors on their social media networks, you should keep track of the information you discover. Here are some good ways to do that:
Create a spreadsheet – Enter the information you collect into a spreadsheet to keep track of the details you discover about how each of your competitors uses social media.
Use Evernote – Evernote is an easy way to collect the information you find about your competition. Make a note of it, and then put it into practice at your own company.
Write a report – Focusing on each of your competition separately, write a report about the information you gathered. It will be easy to refer to this report in the future and even share it with key leaders in your company. Be sure to include action steps you can take now and in the future.
Tracking what your competition is doing, as well as how your audience responds to the competition, will reveal ways you can improve your own company’s social media marketing efforts.
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