Monitor Your Competitor's Social Media & Up Your Social Game.
The team at Sked Social couldn’t have said it any better “Tracking your competitors isn’t creepy. It’s a business essential” and they are bang on. The way to step ahead of your competitors is totally by following the path behind them - anyone who says any different needs another strategy. 🤷♀️ If you’re ready to up your social game, it’s time to monitor competitors and get results.
It’s time to follow, and stalk.
First, follow your competitors closely to see what they’re doing. Take it a step further by turning on push notifications so you can follow them in real-time. This will allow you to become aware of when they’re posting, what they're posting, and how frequently they're posting. Conduct a social media audit if you will. Are the posting reels, short-form videos, graphic posts, images, carousels, a mixture, or both? Note the types of content their posting, then track their engagement. What's performing well, and what isn’t? This will help you to gage the type of content you could be creating and will help to give you ideas for future content posting. By analysing what's performing, and what isn’t and implementing this into your social strategy, you step ahead of the social game. The trick is to track what they are doing well, and then do more of it.
Invest in a monitoring tool like Sked Social
If you don’t want to be manually following your competitor's every move, opt for a social media competitor analysis tool. This is an easy way for you to keep up with competitor activity and pinpoint where your shortcomings are. Sked Social is a great tool and is something we love here at Daily Digital. Sked will allow you to gain a better understanding of what your competitors are doing by providing you with in-depth data and insights. Track up to 4 competitors with their Advanced Instagram Analytics.
You’ll be able to track their average post engagement, follower growth and even Top 5 Posts across accounts. How cool is that? Sked Social is the perfect tool to conduct a social media competitor analysis, and we highly recommend it if you’re wanting to step up your social game.
Sign up to their newsletters
Wanting to keep up with your competitor's news? Subscribe to their newsletters. If your competitors are using email marketing as a content marketing strategy; subscribe and follow their email updates closely. Newsletters are a more in-depth form of content marketing and will give you a deeper insight into life at their business. Emails are informative and will provide you with more info about their products, promotions, and overall marketing strategy.
Conduct a SWOT analysis
SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats.
Use a SWOT analysis as a tool to put all of the information that you’ve collected about your competitors, into context with your own metrics. (source)
For example:
Strengths: Identity what you’re doing well compared with your competitors
Weaknesses: What are your weaknesses? Where are you falling short behind your competition?
Opportunities: What’s something that your competitors are doing well that you could adopt into your digital marketing/social media strategy?
Threats: Think about where your competitor could be stepping ahead of you. Are they growing on TikTok? Getting epic engagement on their Reels? Take tips from their wins, get competitive and aim to step ahead.
Overall, make it your aim to keep up to date with what your competitors are doing and keep well informed. By conducting a monthly or quarterly social media analysis, you’ll become clued up on what they’re doing, giving you valuable insights for the future.
You can do it!
Don’t have the time? Daily Digital has your back. Our social media management includes regular posting and detailed reporting. Contact us to find out more!
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