4 Reasons Why Analysing Your Competitors Website & Social Media Activity Can Really Pay Off
No matter what your business is and what industry you’re in, your competitors will always be in the forefront of your mind when wanting to gain more customers. Many businesses are purely focused on their own work and never even begin to think about what their competitors are doing. Gaining an insight into what your competitors are doing can certainly open new doors and possibilities for your business. Here are 4 crucial reasons why it’s so important to analyse your competitor’s websites and social media actively.
1. See What Content They’re Producing
No matter what industry you’re in, there is always a wide and vast range of content that can be produced. Analysing your competitor’s website will help you see what content they’re producing and how regularly they’re updating it. Seeing what they produce can help give you ideas on content that you can produce on your own website. It will also help you to see what current trends are out there for your customers. If you analyse their content and can see that it isn’t great then this is a great platform for you to increase the quality of your own content. This will give your website an even great push in search results.
2. See What Offers They’re Promoting
Every industry and business will have different offers and promotions. By analysing your competitor’s website and social media accounts you will gain a massive insight as to what they’re offering and promoting. Not only will this give you a huge advantage of knowing what they’re offering but you can also compare your own offers to theirs. If it’s the case that you can quite clearly see that they’re offering better offers then you need to change or update your current offer. Having a great offer can 100% bring in new customers through the door and once they’re in your system you can then continue to keep these customers. It’s all about putting a great offer together that attracts potential customers and gets them talking.
3. See How Often They’re Posting on Social Media
When analysing competitor’s social media accounts, it’s important to take note of how often they’re posting. This will give a great indication as to whether they’re focusing on social media marketing or not. If you can see that they’re posting at least once a week continuously then this would mean they are taking their social media seriously. If you barely touch your social media accounts then you need to start posting. You can also take inspiration from your competitor’s posts and use these as guidance for your own posts. The more work you’re able to do on your own social media accounts the better it will work for your business.
4. See Who Their Audience Is
When analysing your competitor's social media accounts you should take note of who their audience is made up of. This will not only give you a clear idea as to whether they’re actually reaching their potential customers, but it can also help to give your profiles a boost. It’s important to see if their profile audience are real potential customers or just fake spam accounts. If you can see that many followers are fake then this will put your own profile in a better position.
As mentioned, it can also help to boost your own social media profiles. If you analyse who is following a competitor on Twitter, there is no reason why you shouldn’t follow these people from your business profile. The people that follow your competitors are interested in your industry and could be potential customers. If you follow these people they’re much more likely to follow your business page back. This means they’ll see your posts and are much more likely to contact your business.
Why It Matters?
It matters to keep an eye on what your competitors are doing because they’re after your customers too. Don’t think just because you have a set of loyal customers now that they’ll stay loyal forever. Your competitors will always want to gain as many customers as possible and they’re not bothered where they have come from.
If you’re able to successfully analyse your competitor’s website and social media accounts you’ll have a great insight as to what they’re doing and what you need to do to stay ahead of the competition. If you’re concerned that your competitors are taking a clear lead then contact us today and speak to one of our experts.