Having an eye on your competitors can help in different ways for every business person. Now social media has been the main source for every business to reach out to more customers and with few simple researches it is possible to improve your social strategy. Analyzing your competitors is also one of the most important part of this process which will help to know how they are using the social media platform. There are different ways to analyze your competitors on the social media network. Rival IQ is one of the services that can be used to analyze your competitors and this service features a 14-day trial period that can be enough to know about your competitor’s status in the social media platform.
1. Social engagement prospect- Start the analyzing process with social media networks in which your competitors hold a business profile. Twitter is one of the most important social network that is used by many companies to promote their business. Even if your competitor has an account in a least used social media network, try to analyze it. You will be able to get an idea about attracting more customers which is already being done by your competitor. Prepare a chart with your competitor and their accounts details in various social media network which would help to know your competitors presence on various platforms.
2. Competitors position- Now you have to check the ways your competitors will be positioning on the social network. Go through your competitor’s social media profile and their page bios to see how they have represented themselves. Most of the companies using Twitter chat to represent themselves and some will use separate Twitter accounts to provide customers support. The company that has been facing tough competition must prepare a company bios and analysis related to their competitors handle the social media perfectly.
3. Sharing content- Once you get the details about maintaining your position in the social media network try to share a proper content that would attract more leads to your brand. Look for the content used by your competitors which is used to receive more engagement on the social media network. Also analyze top tweets made by the competitors in their Twitter account and the time it was posted. Also do the same for other social media platforms get some idea about updating actual data from your competitor to get better response.
4. Targeting the mentioners- In Twitter you can see the users who mention about the company in the landscape. The mentioners relationship with company can also be seen in your landscape and some of them will also share the content used by the company that can be analyzed. The Rival IQ can also be used analyze the website of your competitors along with SEO strategies. Once you have got the website details of your competitor, it will be possible to use the same strategy to attract leads to your social media network.