As marketers, we are now living in a world where social media is fully integrated in our brand strategy and communication plan. We’re all using social and have a presence on the various social sites; it’s now time to start really analyzing what type of social communication is effective and what’s not. Because of its low cost, many times brands jump into social media without setting tactical goals or developing a strategic plan. This can be extremely harmful as social media is at its core, one of the most effective media vehicles to influence and engage with your customers. It’s also a valuable source of information for brands as it’s a low cost way of getting product feedback and customer input.
One of the best ways to help develop a social media strategy for your brand is to assess what your competitors are doing. In this post, I’m going to share some of the tactics and processes we use here at SwellPath when performing social media competitive analyses for our clients.
So, why is performing a social competitive analysis an essential part of social media success? Because by analyzing your competitors’ you can set realistic benchmarks for your brand based on what others in your industry are seeing in terms of fan growth and engagement. As mentioned, it also helps lay the framework for a successful social media strategy for your own brand based on the successes of others in your space.
With that said, let’s jump into how to perform a social media competitive analysis.
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Categories: Social Media