The keys to competition analysis

[sakib36]

Applied to the design of a social media strategy, a competitor analysis should clarify the threats (the environmental elements that reduce the effectiveness of the social media strategy or act as a brake, and that will have to be addressed, for example, changes in the algorithm that the social media platforms themselves impose, or the fact that the competition has powerful and highly connected online communities), and the opportunities (the circumstances buy phone number list external to the company that favor its development in social networks, and that it is interesting to exploit, such as the competition not providing a good service through social networks or that its content does not generate interactions).

Here are the keys to making it

Think: Who is your competition on social media?
Don't assume that the most powerful companies in the economic environment are also powerful on social media. Also consider that some businesses may have influence and are relevant to the comparison, even if they aren't direct competitors: a kitchen company might find inspiration in the social media trends of home decor magazines or architectural firms, not just other kitchen installation businesses. It's a good idea to broaden the spectrum, but without losing focus.

Find out what their online community is like
What platforms are they present on? Perhaps tracking their websites' social icons isn't enough; search for profiles using keywords and related terms. Ask yourself: Who are they targeting? How often do they post? What type of content do they share, and what generates the most engagement? It's also important to know how their community has grown and what its expected evolution is, as well as who their main influencers are and what advertising campaigns they have running on social media.

Discover the impact of social media on web traffic.
What percentage of visits do they generate through social media? And which ones specifically? More importantly, are they increasing or decreasing? You might be surprised by the effectiveness they achieve on social platforms where your brand isn't present... and you didn't plan to include them in your social media plan.