You may be at a point where you are starting to expand your business and it's time for you to start taking advantage of the wondrous powers of social media. One thing you need to consider before drafting up your social media campaign is what your competitors are doing.
It is crucial to know this information to see how people have been attracting similar audiences compared to your own so that you can find what works best and what causes people to steer clear. With your message, you want to be able to grab your audience and keep their attention. By looking at your competitors and reviewing what they have been posting, you can create clear, consistent messages. Now, doing this manually will take a ton of research hours and waste your valuable time.
However, you can now get all of this information in one place. This video below will show you how:
Before moving into this tool, it is important to note that when you are creating your social media project, you must connect to all social media platforms in order to see all the data. For example, if you only connect a Facebook and Twitter account to your project but not one for Google+, you will only be able to see data for Facebook and Twitter even if you have added your competitor’s Google+ accounts. When you have created and set up your social media project, you will see all of the data we have for your competitor through their social media accounts.
The first tab will show you an overview of where your competitors stand through each platform. For each social media platform, you will be able to see the size of the audience, the amount of posts made on the platform as well as how each platform has been performing through the engagement and engagement rate metrics. You will see a percentage change number under each metric as your project gets older. This will tell you how your campaign has changed through the timeframe selected through the calendar icon in the top right corner. By reviewing this information, you can see where your competitors rank amongst the top of the totem pole and who is underperforming. This can be done by selecting the different competitors, using the dropdown selector in the blue box next to where it says “Overview report for ________”.
Once you establish who is performing the best out of your competitors, it is now time to see how they are getting to this point. To find this information, lets take a look at the Audience report, which can be seen through the Audience tab. What this report will show us is how followers have changed over the same timeframe we have set. Whatever they are posting or changing in these accounts are causing the dips or spikes that you see. If we are looking at your top competitor, this is most likely displaying an increasing line. So how are they doing this? What are they posting to increase this number?
Using the Activity tab, we will now see a post log for this competitor through the selected time period. Pay close attention to these posts and try to take note of what they are using to draw in their audience. Is the content relevant to the audience? Are they using any catch phrases or witty lines?
We can find out all of this information through this report. This report will display the post itself, any pictures or attachments with the post, a link to view the post or to expand it within the report along with how the post performed. You will see a total engagement metric along with an engagement rate. The total engagement refers to the number of engagement types that occurred for the post. For example, if one post received 1 like and 1 share/retweet, this post would have a total engagement score of 2. The engagement rate tracks user interactions for the selected timeframe against the total number of followers. These numbers will assist you in determining the effectiveness of these posts being pushed out to your competitor’s audiences.
Although the icons listed above quite iconic to specific platforms, they are actually representative of all platforms. Lets break this down further. You will notice the “Like” icon from Facebook in this report. However, this metric is referring to not only Facebook likes but also Twitter favorites as well as Google +1s. Another noticeable icon would be the “Retweet” icon. This not only represents retweets on Twitter but also represents shares on Facebook and Twitter. And last, the comment icon represents comments on both Facebook and Google+. (Note: this currently does not include replies from Tweets, however, we plan on implementing this soon).
The last report within the Social Media tool would be the Engagement report. Here is where we explain how we compiled the total engagement number for your competitors for each social platform. These total engagement numbers are coming from how your audience is interacting with you, which can be broken down by the type of engagement. This report will serve to be quite helpful as you try to increase the way your audience interacts with you. This will assist you with getting the most engagement and determining how your competitors receive most of their engagement.
With this information at your disposal, you will be able to properly structure your social media campaigns to further entice your audience. Knowing what your competitors are doing, you can make sure that you come up with proper targeted content to increase your engagement. After all, if you are not communicating with your audience, your social media pages aren’t really doing anything for you.