As companies around the world begin to establish and refine their social media programs, you are more likely to find your competitors on sites like Facebook, Twitter, and YouTube than you were a year ago.
Your company may have participated in social media for a while now, creating well-designed and engaging social media platforms, but it doesn’t hurt to check out who you’re up against.
Social media is no different from any other marketing campaign. Just as you would take a look at your competition for print ads, TV commercials, search, and email campaigns, it is helpful to benchmark your social media efforts against others in your industry. This tactic lets you get a good idea of probable growth and progress and allows you to provide context for your efforts in reports.
Competitors and other companies can help you develop ideas that will work with your audience. Use your competitor’s efforts to determine what resonates well with your audience. What types of questions are they asking? What do their fans and followers actively respond to? By monitoring these pages regularly, you can see what new tools can be used, what topics you can blog about, get ideas for tabs on Facebook, and bone up on best practices for all platforms. Chances are, if your competitor has a similar audience to yours, you can learn a lot from their efforts.
Stay Ahead of the Game
Social media moves quickly. Popular tactics one week may not be popular the next. Keeping an eye on your competition will allow you to stay ahead and see what’s new and exciting. It is helpful to look at your industry competitors as well as aspirational companies. Keeping track of other industry efforts may spark some new ideas for your industry.
In short, YES, you should always care about your competition. Social media is SOCIAL – its important not to work in a vacuum. So push aside your concerns about “cheating,” and rest assured that it’s not!
Anjanee Szczupak is a Social Media Marketing Manager at Fluency Media. Experienced in the world of social media, she helps national brand clients achieve maximum ROI from social media platforms. Check back often to see more posts from Anjanee at fluencymedia.com/blog