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Social media competitor analysis and its relevance to your business




Social media competitor analysis and its relevance to your business
by Nitin Tripathi Posted on Wednesday, September 24, 2014
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Are you wondering why the competitors are earning more attention on their social media campaign? What are they doing right? What are you missing on? Are you efforts going in vain while you competitors are gaining massively?

 

You probably need a competitor analysis. It’s a simple concept of an adequate research on your competitors to gain basic insight as to what works for them and where you are doing wrong. But what are the insight you can get on a competitor analysis. lets just say is a twitter handle or a facebook page is attracting more likes and followers there has to be some reason for that. But what is that right things to do? Well to the best of my knowledge there is no magic wand to solve this problem hence to make a learning curve and to shift from trial and error to mix and match there is a strong need for competitor analysis.

 

let's list out a few things that are a crucial matrix for a great reach. These are most likely the vectors which define the reach of your competitors.

 

  • Time of the day when posting makes maximum visibility.

  • Day of the week when you competitors are posting.

  • Post variation(Text, link or picture).

  • Frequency of post.

  • mentions, re-tweets and shares.

 

Each one of the points mention here when combined together will result in a great intuitive insight. There are a lot of matrices and vectors to analyze and a huge amount of time is required for this.

 

As i said earlier there is no magic wand to do this, we at Sociota decided to name this feature as the MagicBox. Its a comprehensive tool for a complete competitor analysis. MagicBox is divided into four basic coordinates on which we place a profiles. They are Reach, Activity, Engagement and Sentiment.

 

MagicBox is a simple 3 step tool available on Sociota. ITs a great tool for all kind of competitor analysis or keyword/hash-tag research. Enter the hashtags, Your competitors page/accounts/handles and add your own accounts or a combination of these and hit the ‘get report’ button. These reports once generated will remain in your saved report tab.

 

All these reports are live that is they gather data everyday to update themselves and are also publicly available that is the link could be quoted anywhere. You have the liberty to mark these reports as private if you don't want them to be accessible by others.

 

So get started now and get that extra edge over your competitors with that great tool. Dont miss any of your competitors activity. Know it as soon as they apply a strategy and act on it immediately.

 


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