Part of your marketing strategy should include following what your competitors are doing. Why? Because they might be doing something worth looking into and putting your own spin to it or making it even better!
Jeremy Victor of Smart Blog on Social Media gives us three reasons why we should follow competitors online:
- Improve your content strategy. Sometimes coming up with your own fresh content could be challenging. By following your competitors you are aware of the trends and what their customers are talking about.
- Track sentiment. Consumers are using social media more to connect with their brands to complain or give kudos. By following the response and interaction between the customer and company, you can gain valuable knowledge about how to deal with similar situations in your own organization. This can help companies develop their social care strategies or get ideas on how to improve their own products, brand or service.
- Be the news. Just by being updated with what your competitors are up to, it gives companies an opportunity to respond or prepare to compete. It’s better to be prepared and understand how it will affect your sales and develop a plan if necessary to protect your market share.
Because there’s so many social media tools out there, following, tracking and getting the information can get overwhelming if you are not taking advantage of the tools out there. Here’s a list of cool websites and tools definitely worth checking out!
Google just launched a powerful new marketing tool called Think Insights. Mike Allton from Socialmediatoday.com defines Think Insights as, “a massive resource of information for marketers, providing the “latest research in digital marketing” as well as “industry-leading case studies and Google’s latest research, strategic perspectives, interviews with innovators and experts and more.”
There are various menu items where you can select marketing insights on industries, marketing objectives, and much more. The “Creative Sandbox” menu show cases various campaigns that Google describes as a “blend creative genius with digital innovation.” The best part is you can actually learn how it was done.
If your social media only includes Twitter and Facebook, Tweetdeck is sufficient enough to manage your accounts and updates. However Hootsuite is the ultimate powerhouse for social listening as it connects to eight different social media applications where you can narrow your streams of stories and updates by searches, keywords, filters and lists.
Addictomatic allows you to search any topic, company, products and brands, and it returns the latest updates in a dashboard view of the following channels:
- Delicious Tag, and much more!
Where can you get statistics on YouTube channels? Here it is. It is so simple, you just simply type in the channel name you are interested in and it returns the number of subscribers, video views, and estimated earnings for that video!
This website estimates web traffic, pageviews, top search queries, audience demographics and more. According to Alexa’s website, Google, Facebook and Youtube are the top three most popular websites.
I hope this helps you in your future endeavours! Good luck.
Miller, M. (2011). The Ulimate Web Marketing Guide. Indiana: Que Publishing.
Allton, M. (2013 March 13). Google’s Powerful New Markeing Tool: Think Insights. Social Media Today. Retrieved March 16, 2013 from http://socialmediatoday.com/mike-allton/1307296/google-marketing-tool-think-insights
Victor, J. (2012 April 11). Top 3 reasons you must follow your competitors on social media. Smart Blog on Social Media. Retrieved March 16, 2013 from http://smartblogs.com/social-media/2012/04/11/top-3-reasons-you-must-follow-your-competitors-on-social-media/