The Importance of Social Media Tracking and Competitor Analysis
20th November 2018
Previously we have spoken about why you need a social media strategy and how to create one. Within this post we talked about auditing your content and keeping an eye on what your competitors are doing. Now we are going to delve into this deeper and show you why these steps are so important! We recently completed a three-month social media analysis for one of our clients by monitoring what content their competitors were putting out, where they were putting this content and at what time among much more – and we learnt a lot!
What are the benefits?
By completing competitor analysis you can see where you fit in compared to similar businesses out there. It’s a great way to see if you’re missing out on key types of content that are working well, in which case jump on the bandwagon. If it works for them it’s pretty much guaranteed to work for you too. But don’t forget to look in the blank spaces too. What we mean by that is see if there is anything your competitors aren’t doing. You want to stand out from the crowd, so as great as it is to copy great ideas, look at leading as well as following. This will give you the competitive advantage. Don’t be afraid to ask your audience as well. After all they know what they want the best! Twitter polls are great for finding out what content they want to see from you.
Don’t just look at the content being posted but the time and platform it’s going out on. If you audience works 9-5 Monday to Friday they are unlikely to be online at 3pm when you put your latest news on Twitter. Instead schedule content to go out on the weekend. Or target the commuter hours and get them on their way in to work. Social media platforms all come with their own analytics system, use this to track and analyse what is and isn’t working. Everything really comes down to trial and error to find what works for you and your audience.
Where do I start?
Luckily for you we know a thing or two about how to complete competitor analysis for your business! As we said earlier we recently completed a social media tracking project for our client. The results were surprising and we found a multitude of ways our client can improve their social media content and stand out from everyone else in their industry. If you feel like this is something your business needs or you want to find out more information give us a call or drop us an email!
01225 351715 firstname.lastname@example.org