If you’re overlooking this activity as a component of your social planning, you may be missing out on game-changing opportunities. Competitive analysis is a crucial part of your social analytics strategy, and social marketing strategy as a whole.
A social analytics strategy is critical for any marketer looking to understand, optimize, and streamline the social marketing process. Social analytics enables two parts of the marketing process:
Setting social strategy
Measuring and optimizing tactics
Competitive analysis is a big part of a social analytics strategy, and one of three components that fuel the planning process.
Before you set your social strategy, it’s essential to have a solid understanding of your brand’s particular competitive landscape, both online and off.
Competitive analysis helps you identify important trends, impactful tactics, and new competition as you plan your social marketing efforts.
In addition to keeping you updated on your competitors’ activities, a solid competitive analysis empowers you with:
Market Context: Study the norms for your market, especially on social where longstanding benchmarks don’t exist.
Opportunities for Growth and Expansion: Inform your roadmap for the next week, quarter, and year.
Content Insight: Learn which content increases engagement and social audience size among your competitors.
Fresh Thoughts: Spark new ideas for staying competitive.
Our latest guide will walk you through best practices for learning what your competitors are doing on Facebook, Instagram, and Twitter, how well they’re doing it, and, ultimately, what your brand could be doing better to win.
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I’m the Content Marketing Manager here at Simply Measured. I manage our blog, produce longform content, head our co-marketing initiatives, and host the Simply Social podcast, among a few other things. I love yoga, The X-Files, peaty scotch, hiking, and poetry. If I were a social media channel, I’d want to be Instagram, but I think I’m Twitter.
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