Years ago keeping an eye on what your competition were doing and how well they were doing was a bit cloak and dagger, luckily these days it is a whole lot easier and can be done using social media and a little bit of time.
By social media we are focussing on Facebook, Twitter, LinkedIn etc. These are in the public domain and easily viewed, more importantly access to their audiences and strategies.
Who are my competition?
You should probably already know this but businesses can be launced almost on a daily basis so you can be forgiven for missing some of them. Get yourself over to Google and search for businesses that provide your products or services, focus on the first page for now and gather up a list of companies that are operating in your space/industry.
What social media platforms are they using?
Have a look around their websites, are they using social media at? If they are, make a note of the social media platforms they are using for reference.
Gather some intelligence on their social media use...
For now, focus on the following:
1) How many followers do they have
2) How often are they updating their social media channels
3) How are they engaging with customers
4) How are they portraying their brand on social media
Numbers wont tell you the whole story but it will give you a good indication on the strategy they are employing.
Look at their customer service, are they engaging with customers using social media?
If they are, should you be?
Do they have a newsletter available for you to sign up for?
If so, go ahead and signup to receive updates from them.
By keeping an eye on your competitors' social media activities means you can look beyond the 4 walls of your office and gather the intelligence to discover how to manage your customers' expectations, seek out new customers and to ensure you can meet their expectations from your own business perspective.
We hope you have found this post interesting and it spurs you into taking social media seriously within business.
For more information about how Pebble can help you with your social media presense please telephone us on 01733 902070, email us via our contact form or head over to our social media services page.