Competitor Intelligence – A Social Media Audit
Keeping an eye on your competitors is an essential part of business. The beauty of this exercise is that, as well as keeping you up to date with what they are up to, it can also help you reassess what you are doing. We frequently carry out detailed social media audits for our clients however you don’t need specialist software to get a pretty good overview of what’s going on.
Who are you watching?
Competitor intelligence involves selecting two or three of your main competitors plus one or two other businesses from the same sector, even if they aren’t direct competitors – you can still learn from them. You might also want to include a client or two if you work business to business plus a supplier. This will give you a good feel as to which social media channels your market is operating in.
Check how many followers they have and how many people they are following. If they don’t follow many people back they may not be interested in hearing what their audience has to say. Take a look at how many tweets they have made and when their account was opened – this will give you a guide as to the frequency of their posting – also check when their most recent tweet was posted.
Have a detailed look at some of their posts – you’re looking for engagement here. Do people reply to them, retweet them or favourite their posts?
— Starbucks UK (@StarbucksUK) April 27, 2017
Click the ‘Likes’ button on the page menu and you’ll get information about how many page likes they have together with how many people are talking about them and whether people have checked in at their location.
Again, go and have a look at some of their posts – see what sort of content they are posting and how engaged people are. You can see if they respond to their audience’s posts.
Other Social Channels
Do the same checks on other social media channels and you’ll find that you’ll build a picture of the kind of social interaction that’s being carried out.
You might want to set up a spreadsheet where you can keep a note of the date you checked and the key data that you’ve collected – next time you do a review you’ll be able to compare whether they’ve got better or worse. And don’t forget to include data about your accounts with this!
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