With few exceptions, your company is not alone in the market, and to be successful you need to know your competitors. Knowing what they are doing and the result of that can bring ideas to your company and help you leverage your business.
By analyzing your competitor you can get an overview of the industry, get to know your customers better, anticipate the competition and also serve as a source of inspiration. In other words, you can have greater control of the market and avoid unpleasant surprises.
Before you start, you should know that there are two different types of competitors: direct competitors, companies that offer the same product or service as your company, and indirect competitors, companies that are part of the Same market and sells a product or service similar to yours. From this, you must define who your competitors are and where they are.
Searching for your competitors can be done on Google by typing in the search field the most important keywords in your business. Select the competitors that appear in the top positions and look for their social networks on their sites.
Now is the time to decide what metrics you are going to analyze. The main points you should pay attention to :
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All this work can be enhanced with the help of some tools that do practically all the analysis for you. Here are some of them and how they can help you:
1 - Quicksprout
Shows the amount of content shared on social media of up to 4 competitors at the same time
2 - Fanpage Karma
It shows the presence of a company in social media. Allows to compare performance, content more used, number of fans, frequency of publication and engagement
3 - Audiense
Compare your actions with your competitors on Twitter
4 - Twitter counter
Compare followers and tweets
5 - Likealyzer
By providing the URL of the facebook page, dialyzer provides complete information on the page.
6 - Quintly
It provides information such as KPIs, most active users, fan behaviour, interaction with users, among other things.
7 - Social Mention
See how often your competitor is quoted on blogs and social platforms
And now what to do with all this information? It is important to analyze and compare all the data. For this, you can make a spreadsheet or a report with the conclusions drawn from the surveys. After the analysis is reached the moment of decision making: What will you do to get out in front of your competitor? What does he do better than you.? What is your advantage before it? By answering these questions you can chart good planning to take your company to success in the digital age.
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