Keeping Track of Your Competitors
Keeping track of your competition is absolutely essential. Knowing what they’re doing to stay in the game allows you to see how you can potentially improve your strategies and potentially widen your audience.
Try to go beyond just a Google search
Obviously, researching your competitors is the first step you’re going to take in terms of finding them. Once you have fully researched into your competitors, you need to go beyond this. There are a variety of online tools you can find that give you statistics and such on other companies. One example of this is https://www.spyfu.com/, where you can research what keywords and campaigns your competitors are using.
Then, you need to look on social media
You need to look into your competitors social media, monitor their tweets, posts, anything they do and gauge how they do it. Knowing how your competitors approach social media allows you to see if it works and how you can interpret it in your own way to improve your social media strategies.
In terms of social media, it’s good to separate different parts of research
This can go into categories such as platforms, how frequently they post, their following, response time, etc. It is important to see what platforms your competitors are using; what works for them and how they utilise each platforms features. You can also look at how frequently they post, what they post, what time they post usually, and more. Tracking their followers and seeing how much they increase by each week can show you how they’re doing in terms of gaining more of an audience. This can show you whether what they’re doing works for them and how it can work for you.
You could also analyse their content
See what content they publish, is it relevant to the industry or just relevant to their business? Are they just promoting their business or engaging with customers? See how often your competitors publish unique content such as blogs. Knowing what content is popular with their followers will show you what content could potentially be popular within your following and increase your numbers.
Ask your customers
An easy way to see how you compare to your competitors is to simply ask your customers. Whenever you gain a new customer, try to find out who they used previously and why they switched to you. If they didn’t switch and you’re their first choice, ask why they chose you. You can also do the exact same when you lose a customer, see why they preferred another company if they’re switching or why they no longer need the service you provide.
Be sure to maintain a strong eye on what your competitors are doing and try to remain one step ahead of them.
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