Competitive research also gives you insight into macro-consumer trends such as the influence of elevated consumer prices on overall spending habits and brand preferences. Or, how to better target Gen Z, a demographic known for its high purchasing power and unique consumer behavior.
Competitive intelligence is especially critical in social media marketing because of the nature of social. As new platforms, features and trends emerge, social teams must keep competitive market research on their radar to make sure their brand remains relevant.
Social listening gives your social teams swift, comprehensive insights from across social networks, review sites and customer forums—at a fraction of the cost and time traditional research methods take. You’re able to more easily overcome flux in platform algorithms and face continuously evolving consumer behavior. You’re also better able to understand how your competitors are navigating these shifts and adapting their strategies to meet them.
Plus, you can analyze sentiment in thousands of brand conversations to address sweden mobile database customer needs more productively and ensure the competition doesn’t affect your market share.
Understanding your competitor’s social media strategy means you can use what’s working and avoid their mistakes. Here are six tips for using social listening in competitive analysis:
1. Monitor competitor sentiment
Since your audience often overlaps with that of your competitors, their customer feedback is highly relevant to you. A complaint or request that comes back often shows a common problem or need. This is an opportunity to show yourself as the best choice for that popular need.
6 tips for social listening competitive analysis
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