When it comes to marketing, social media is one of the best options that a brand can choose. Whether you are a large enterprise or a small start-up, there are a long list of reasons to use social media. It probably goes without saying that your competition is on social media. Although there are many schools of thought regarding how brands should deal with their competitors, it’s always important to know what they have going on, including what’s working and what isn’t. With social media analysis, you can get a good understanding of your competition in a short amount of time.
Competitor Social Media Analysis
For starters, NetBase is a company that provides brands with the tools they need to conduct a deep dive analysis of social media, including the competition. You can essentially find out the sentiment of consumers regarding your competitors and use that information in the development of a more effective marketing strategy. There are many times when a brand must pivot after gathering information about the competition and NetBase makes that process easier. Subsequently, you can be more strategic about your marketing endeavors.
One way to leverage the power of social media analysis is by using it to understand the sentiment concerning your competition. This can enable you to meet the needs that exist. Sometimes you can do this by uncovering areas where your competitor’s customers are dissatisfied. This too is information that can be obtained through social media analysis using NetBase tools. They offer a powerful system that can help you develop strategic marketing plans based on insights from social listening.
Uncover the Interests of Your Target Audience
Conducting a social media analysis of your competitors can help you find out the type of content they find most interesting. This can aid in choosing the type of social media posts that will resonate with your audience. This information is readily available with the right tools. Instead of making assumptions about what to post on Twitter, LinkedIn, Facebook and Instagram, you can analyze what’s happening with your competition and make a decision accordingly.
A powerful piece of information that you can obtain is the expectations that consumers have about a product or service. This is available by analyzing the competition because it’s easy to find in comments and product reviews, which are everywhere. You can find these details online, but effectively synthesizing the information requires the help of the most up-to-date and modern technology.
Analyzing Marketing Campaigns
Your marketing campaigns are not the only ones that need to be analyzed. You should also look closely at your competitor’s marketing. Why? Because it can help you understand what’s working and what isn’t working. If you pay close enough attention, you can use the data to avoid making mistakes and exploit. It’s important to use the right tools because this type of analysis can be a masterful undertaking. However, it can be simplified with some of the latest technologies.
When assessing the data obtained about your competition, the likes and dislikes are critical. You can use them to find out what your competitor is doing right and what they’re doing wrong. Trends today don’t last very long. In fact, you’ll need to conduct a social media analysis on a consistent basis to make sure you understand what’s current. What was hot last month, may not be on anyone’s radar this month. If your competition has this information, you should too. More brands than ever before are becoming more savvy in the use of social media analytics.