As the social media evolves, so does the market. In order to keep yourself on top of it, you need to start using some smart social media strategies.
One of those strategies is “stalking” your competition.
To be fair, stalking is a bit too strong expression, as you can break it down to the basic competitive analytics. Competitive analytics have been used way before social media, but nowadays, it can be more helpful than ever.
We’ve assembled a list of few steps you should keep in mind when it comes to analyzing your competitors’ social media. So let’s dive in.
Define your competition and your platform
In order to fully maximize the potential of your social media marketing, you need to know exactly who do you consider as competition. When you know who to compare with it will be way easier to start analyzing their social media strategies.
After you’ve defined your target competition, you need to do a thorough research of all the social media platforms they’re involved with. Check their Twitter, Facebook, Linkedin, Pinterest, Google+ and all the other platforms they advertise on. The aforementioned platforms are the main focus of modern marketers so that’s what we’re going to focus on.
Benchmark page performance and social engagement
What are the most basic things you’re looking for when it comes to competitive analysis? Basically, there are few things to consider:
Social reach – the number of followers or fans on social pages.
Social engagement – the number of shares, likes, and comments on various posts.
Own VS sourced content – as content is king, quality, and originality of it are what generates the best results.
Use of network features – the way your competitors’ social media marketers use their networking tools and features can boost their overall online presence.
The best way to do a proper engagement benchmarking is to find a proper set of tools for that. While the internet is filled with those, you will have to pick the one that suits your needs best. From keyword research to statistic comparison of two social media pages, these tools can help you understand how to achieve higher engagement and market your product in the best possible way.
Aim for audience feedback
As SEO experts have noted – the more engaging you are – the more traffic you generate. This is important in order to boost your overall online presence. Closely monitoring the social engagement well-established brands form your branch has with their customers can help you. It will show you how to approach social media in the best possible way to attract the certain focus group.
Also, tracking the negative feedback you can learn what to avoid. You can’t simply take someone’s social media marketing strategy and make it your own, but you can learn quite a lot from their strategies, and learn what would be the best solution for your business.
Make sure there’s consistency on-page and in posts
Following your competition on social media is not enough. You need to understand their posts. Check their blog, and regularly track their keywords use. These techniques can help you understand what your competitors are trying to do. Do a thorough analysis of their posts: what images did they use; what type of colors and keywords; what formats are used and when did they post it. All of these aspects can help you understand how to make a viral post and help establish your brand on social media.
Analyze referral traffic and use it to your advantage
With a lot of useful tools, analyzing your traffic or the traffic of your competitors isn’t such a hard thing to do, but you must know what to do with the results.
You need to understand which social media platforms draw the most traffic to your competitors and you need to understand why. Make sure you’re following smart strategies and not just use social media at any cost because “everybody else is doing it”.
This list is here to help you understand how to learn from your competitors. All of these tips have only one goal and that is to help you understand how dynamic your target market actually is. Whether you’re running a small business or a large company, social media marketing is incredibly important for both promotion and income generation, and following your competition can help you out in understanding how to use social media to your own advantage.
Chloe Smith is a cycling enthusiast, business consultant for an SEO company based in Perth and a part-time writer always willing to share tidbits of advice. She believes that passion, courage and, above all, knowledge breed success.