It’s always good to know what’s going on in your industry. Keeping an eye on the competition has always been part of running a business. It’s easier than ever to keep up with your competitors with social media.
Reasons to Track Competitors on Social Media
The most important reason you should track competitors on social media is to see what content they’re putting out, how they’re doing it, and who’s engaging. Your competitors may have a different angle or perspective on things than you do.
Tracking the competition also helps you monitor what’s going on in your industry. If they have something big going on they’ll be sharing it on social media.
You can see how they’re doing with their customer base. See what content they’re putting out and how their fans and followers respond to it. What’s getting the best responses?
If they’re getting a lot of loyal engagement, you’ll learn from them. Finding something new and interesting is important to having your own success on social media.
You can see how many fans/followers/subscribers they have and how they acquire them. On Twitter and Instagram, you can see what hashtags they’re using and that would be a huge advantage to you.
How to Track Your Competitors
You can create a list of your competitors’ Pages on Facebook. Facebook will automatically help you monitor their performance statistics through a tool called Page Watching.
With this tool, you can track weekly analytics as you do your own page. Using this tool can help you identify your top competitor, and see if you’re measuring up.
You can access Pages to Watch on your Page’s Insights. In the overview section, scroll down until you see the Pages to Watch tab. You can track the progress of 5 or more Pages.
However, don’t just copy your competitors or rip off their content. Use it to get inspired and motivated. Use this information to form relationships with your competitors. You just might be able to help each other out and everybody wins.