For any business, understanding the competition is important. It allows a business to plan a brand strategy which will set it apart from the field and to exploit areas in which the competition may be lacking. But how does a business understand, compare and learn from what the competition is doing on social media? Mijo! Brands offers a few suggestions on how to measure up your competitor's social networking.
• Facebook Pages to Watch: adding this tool through the admin section of your business Facebook page will allow you to track Likes on your competitor's pages and monitor their growth.
• Facebook Interest Lists: stay under the radar by adding your competitors to your Interests lists on your personal Facebook page. You may add pages without giving them a Like and set your list to Only Me under the “Who Can See This List” settings. This will allow you to easily monitor your competitor's posts without them knowing you are watching.
• Paid Monitoring: AgoraPulse and Simply Measured offer free or low cost reports on competitor's social media sites including Facebook, Twitter, Instagram, Google+, Vine and LinkedIn.
Monitoring your competition's social media can provide helpful insight into their online strategy and provide inspiration for your own strategy as well, but keep in mind that it is always important to stay true to your brand message on your social networks.
Have you measured up the competition on social networks and did you find it helpful for your online marketing plan? Leave us your thoughts below.