When you want to stay ahead of the pack, it’s important that you track your competitors’ activities. From tracking their prices using a minimum advertising pricing policy monitoring programs to their content marketing activities, you need to check on what they’re doing.
Fortunately, there is an easy way to monitor your competitor’s activities and that’s through their social media pages. So, aside from staying on top of the competition, here are other reasons you should be tracking your competitor’s activities on social media:
1. Check out their content
These days, no business can thrive if they don’t have content marketing in their operations plan. Some would say that traditional marketing is enough to keep the business afloat, but if you really want your company to thrive, you need to do some content marketing.
This is because content marketing can do so much more than just traditional promotion. Aside from promoting your brand through newspapers, TV commercials, and billboards, content marketing can reach customers through blogs, social media posts, YouTube, and other platforms that traditional marketing can’t reach.
On top of that, content marketing can help you build strong relationships with your customers by letting them know more about your business without having to delve into a sales talk. That said, content marketing is truly a necessity these days and if you’re trying to outdo your competitor, you need to know what type of content they’re putting out.
2. You need to know what’s new
Tracking your competitor’s social media activities can also help you learn anything new about your industry. You can check out what’s trending in your industry and you need to know this because you always need to offer something new to your customers.
3. Check out their relationship with their customers
You also need to see how your competitors deal with their customers. You need to see what kind of promos they offer, what content they show, and how they interact with their customers. Are they perky? Are they formal? Do they talk to their customers daily?
You must learn about these things because it could help you figure out if your marketing and customer service efforts are enough or if you need to step up. It doesn’t mean though, that you should copy what they’re doing. Nothing turns off people more than a company ripping off a competitor’s idea so try to come up with something new for your customers.
4. Check out what’s lacking
You also need to see where your competitor is lacking when it comes to social media marketing. Are they only using Facebook? Do they use Instagram but sparingly? See what areas your competitors are not focusing their energies on so that you can use them to your advantage.
You could also use this information to learn why your competitors aren’t focusing their efforts on some social media sites or why they’re not using certain social media marketing plans. Aside from them not knowing the importance of those sites and social media strategies, maybe the reason they’re not using those online networking sites because they’re not effective anymore.
For example, back then, when Twitter was an effective tool when it came to social media marketing. But these days Twitter his slightly losing t its popularity and Instagram has replaced it as one of the most frequently used social media site. So, if you see your competitor not using Twitter as much as before then it maybe because they’re using Instagram more.
So, if you want to stay ahead of the pack, always check up on what your competitor is doing in their social media platforms. This way, you’ll be able to come up with a counter-attack to launch your brand.