How to do Social Media Competitor Analysis

Are you wondering why your competitors are gaining more eyeballs on social media than you?

Is social selling your agenda but your strategy hasn’t shown desired results?

Well, you are not alone. That’s when you need to start looking at social media competitor analysis seriously because a deep understanding of your strengths and weaknesses versus your competitors’ helps you maximize your potential and fill the gaps.

Social media is an evolution. Every day there are millions of mentions and conversation across multiple platforms. So how are you going to monitor your presence vs your competition. This is where a social media monitoring tool could come to your rescue.

Monitoring and analyzing the presence of your competitor can help you derive valuable business insights, and use them to improve operations, product development, reputation management, customer experience and more.

If you haven’t started yet, let me take you through a quick set of steps to begin with.

No matter which industry you belong to, everyday there are a new set of competitors flowing in. So how are you going to decide whom to track. Primarily, it has to be your brand,  your established competitors, the best of class brands and the industry updates/new competitors. 

Set up these keywords as your search profiles on your social media monitoring and analytics tool.

To know where you are lacking it’s important to understand three key aspects- what channels are your competitors on, what is the sentiment around their efforts on those channels and which geography do they cater to. There are many social media platforms but not all will work for you. But taking a close look at what your competitor has already worked on to experience success can give you a direction. Also, analyze what has already worked for your brand and work around areas that you have missed.

Published on http://www.blog.webflunz.com.  To read the full article, click here.  For more information on creating your own online brand, website and social media strategy, please visit our website at www.mydigibrand.com and follow us everywhere @mydigitalbrand.

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About MyDigiBrand™

At MyDigiBrand™, we're passionate about what we do. Our team has been in the technology industry for ages, and are proud to play a small role in helping people capitalize on the Internet to establish their brands and generate revenues. Like most small businesses, we've gone through the trial processes of trying to find what works to create and maintain a powerful social media presence. We know it's not easy, that it takes a lot of work and a whole helluva lot of consistency. Most small businesses just don't have the time to do it, nor the resources to have someone on staff dedicated to managing their social presence.​ So let MYDIGIBRAND handle it for you. We've been there. We understand. And we can definitely help!
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