The quality of your business is defined by the quality of your competition. There is no doubt that the quantity of your competitors speaks volumes but the type of competitors you have also plays an equally important role.
Here is giving you a START to your competitor analysis as explained by Maggie Burke
S: Sentiment
Different tools can, and should, be used to investigate a competitor’s sentiment on social media.
Do a large portion of their social mentions contain positive, negative or neutral affiliation?
Sure, it looks great to have a large percentage of mentions on Twitter, but what are people actually saying?
Sentiment analysis can reveal more about a company’s performance than basic numbers – it’s worth putting them to the test to see what you come up with.
T: Types of Content
It is SO important to look at what types of content a competitor’s fans are relating to the most.
Is the brand relying heavily on video content to convey their messaging?
Are they’re getting great engagement on link posts to their blog?
Before a brand can be advised on what they can do better, they need to understand what’s currently working best.
A: Audience
This may seem obvious, but a lot of companies assume that their competitors are speaking to the same audience. Taking a closer look at the demographics of who is actually interacting with their content can be a great key to success for your own channels.
Are they excluding a huge target that you could capitalize on for improved ROI?
R: Response Time
Facebook has a great tool that now publishes a brand’s response time on their Page. Using this as a guide, ensuring that your engagement with your fans exceeds what’s being provided by competitor’s can benefit you immensely.
Consumers want to know that they’re being listened to – but more importantly, that they’re actually being heard.
T: Timeliness
Real-time content is a huge opportunity for brands to connect with their audiences.
