No matter how you see your competition, any business without it is set to struggle in many possible ways. In other words, competition is good for your business. It is something that keeps the fire burning, keeps you on your toes and lets you improve your business and innovate new things continually.
Instead of being angry on your competition, you can actually learn a thing or two from it nowadays. Below, we are listing the seven ways to start getting insights from each of their moves.
1. Identify your target audience If you don’t know your target customer yet, you can start tracking down businesses that offer a similar product or service - and hop on their social pages. At a quick glance, you will see what your ideal customers look like, whether they are home-based moms or aspiring millennials.
2. Study their engagement with customers Now that you know your target audience, it’s time to dig a little deeper - and study how your competition engages with their customers. For example, you can check if their pages are littered with complaints from customers - and how they are responding to them. Alternatively, this will let you learn your customers’ likes and pain points.
3. Mimic what works Your competition is likely doing a great job in something. It is up to you to see the best practices and mimic them in your social media strategy. These can range from curated content, case studies, images, videos or quotes - it is up to you to see what works and what doesn’t.
4. Avoid what doesn’t work While mimicking the things you like in your competitor’s social media approach, you should left out and avoid what doesn’t. This is where you have a chance to be a fly on the wall and know how the audience reacts to certain types of content.
5. See the best times to post Your competition can give you the best times of the day to post - and the times when your customers seem to interact with content the most. So, why not adopt this and use it in your strategy?
6. See the keywords they are targeting SEO is crucial when it comes to social media too - and keywords are one of the most important features. By seeing which keywords your competition targets, you can gain a competitive edge and better exposure.
7. Post content that they are not posting Your social media strategy should be unique - so make sure to see what your competitors miss and post it instead of them. This will give you unique brand authority and get you even more loyal followers.
We hope that these tips will help you make most of your social media strategy!