In today’s digital age it’s important to know your competitors and their strategy to beat or out-perform your competitors. Social media marketing is your best tool to understand the strategies of your competition.
Social media has occupied an essential position in the marketing strategy. With every single company resorting to social media for promoting their products and services, it has increased the competition on social media. Thousands and millions of posts are shared on social media and every brand is trying to outperform their competitors.
Social media is changing the nature of competition, and it is no doubt the best channel for companies to promote their brands in addition to keeping a watch on their competition. With social media marketing, you seem to be competing with everyone on real-time. Competition drives most of the brands to perform higher on social media.
Here are 7 Strategies To Stay Ahead Of The Competition On Social Media:
1. Figure Out What Your Competitors Are Doing Differently
If you miss important leads of your competitors, you can end up being isolated in the competition. Competition drives most of the brands to perform higher on social media. You can easily check your competitors actions, the campaign they launched recently, posts are they are floating, best performing posts, and so on.
Identify your key competitors and make a list of top 5-10 competitors. Analyze them every day to know various aspects of your competitors such as the content they publish, the frequency of their posts, the influencers that they are engaging with and the campaigns that they are running.
SEMrush is a competition monitoring tool that can be used for tracking multiple aspects of your competitors. You can find out where your rivals concentrate most of their marketing efforts, discover their websites’ traffic, audiences and lead gen sources. You can also conduct in-depth analysis of your competitors' backlinks.
2. Research And Explore Your Audience
It is important to know your customer first, as all your marketing strategies depend on your target audience. As a marketer do you know who your ideal customers are?
Do you know their age and gender? Do you know where they shop? How often do they shop? Which location are they based in? What are their interests?
In an era of social media, there has been more access to user information that can be used to craft accurate customer information. With the data being at the center, social media marketers have the capability to create personalized advertising campaigns that can hit the bulls-eye thereby defeating your competitors.
Audiense is yet another social media management tool that is designed to identify the right audience that is most relevant to your business. This tool is capable of finding large audience that is perfectly matched to your brand.
3. Reinforce Your Brand’s Personality
When you don’t have a social media brand presence, you are automatically passing on the advantage to your competitors. Not having a social media brand presence will deprive you of all the benefits of social media.
Your competitors might already be ahead of you in building a strong social media brand presence and there are high chances that they are investing their time and efforts to build a positive online social presence to gain business.
With a strong social media presence, you can monitor and measure your brand performance. It helps you to see what your customers are saying online about your company and products. You can also extract information about the comparisons that customers are making between your product and your competitors’ products.
Tools such as Twitonomy gives various methods of analysis of your competitor accounts. Just Start by listing your competitors’ Twitter handles. Twitonomy will give you complete details on the Twitter lists where you and your competitor is part of. It will list down the most popular Tweets and other engagement statistics.
4. Create Irresistible Content Your Audience Will Love To Read
With so much of content on the social media, you don’t have more than few seconds to catch the attention of your audience. Creating compelling content that will get someone to stop and engage with you on your social media page is the key to content creation.
Content is used for increasing brand awareness, engaging with audience, customer attraction and retention, and lead generation. As a social media marketer responsible for creating and publishing engaging content, have you ever felt that you are running out of ideas for content creation?
Social media tools come to our rescue at this point of time. You can use the ideas and suggestions offered by social media management tools to generate and curate content.
Cloohawk is an intelligent social media tool that offers numerous content generation ideas and suggestions. It’s feature, ‘Your competitors' best posts’ allows you to see at a glance the best performing posts of your competitors. You can view your competitor’s top posts, the date when it was posted and the engagement on each post. Based on this data, you can create compelling content that has already proved to be good with similar customers.
5. Rely On Automation
Whether you are a small business or a social media manager of a large company, social media marketing automation tools are of great assistance to save your time and effort. While social media can be overwhelming, the automation tools can be a boon to manage, schedule, repost your content while increasing the engagement with your audience.
The good news is that there are a ton of automated competitor analysis tools to help you efficiently assess how you stand up against your competitors. With these tools at your advantage, marketers can maximize not just social media engagement but also your revenues.
Tools such as Social Blade come handy when you want to check your competitors. The tools can assess follower counts, likes of Twitter, Instagram and YouTube among other services. The tools will give you complete details of a competing brand messaging, the frequency of their content publishing, posts that are doing well, unhappy customers of your competition etc.
With the features offered by these tools, you can effortlessly compare your own growth with your competition.
6. Follow And Connect With Social Media Influencers
Brands are building partnerships with social media influencers to reach wider audiences to defeat the competition. Influencer marketing is an opportunity for brands to work with social media using a well-defined and well-designed social media marketing strategy to cut the competition.
Start following the industry leaders, influencers in your domain and other social impacting brands. Connection that you build with industry influencers is going to be a huge positive strategy for your brand to move forward.
Connect with influential speakers on social media and take the opportunity to engage with the speaker who might make a mention of your conversation in his social platform thereby exposing you to his numerous followers.
A tool like Cloohawk will make it easier to identify your most influential users so that you can connect to them instantly.
7. Create A Conducive Environment For Customer Service
Competition can be killed by offering excellent customer service. Social media plays a great role in customer service.
Social media has changed the face of customer service. Customers today, prefer to post on social media rather than talking to call center executives. They would rather share their problems faced relating to the product on social media, with an intention to gain immediate action from the brand.
Be quick to resolve queries and complaints that have been posted on social media. Share the experiences of customers on social media which helps to gain trust from social media audience. This brand action creates a positive impact on the social media audience by depicting that you take care of the customers on real-time basis and that you are very proactive thereby crushing competition.
When a company studies its competitors to understand their social media strategies, you will have greater advantage as the information that you have gathered will enable you to take important decisions regarding your social media strategy, thereby putting you ahead of competition on social media.