6 reasons you must spy on your competitors online
Why do companies start a social media programme? In many cases, it is because they are very aware that their competitors are already doing it, and that they risk falling behind.
And yet, nine times out of 10, they never pay serious attention to what their competitors are actually doing online, beyond the fact that they’re there and are building up a following.
It’s a major mistake, because analysing your competitors’ social media activity can give you enormous insight into what you should be doing yourself. If you’re a little ruthless (which you must be in business!), you can also snatch some of their success.
So how exactly does a competitor analysis help you? Let us count the ways.
1. Understand the opportunities. Before you even launch your social media programme, you need to make sure that there is room for what you have to offer online.
Samantha Bass is a 34-year-old mother of two who has a family history of cancer. As a result, she is obsessive about her own children’s health, making frequent doctor’s appointments, eating well and insisting on family exercise.
For its 10th anniversary, Facebook sent each of its users a customised video, highlighting their most popular posts and pictures since they joined. The series was a hit: over 200 million people downloaded, watched and then shared their version.
One of LinkedIn’s most hated policies is SWAM – site-wide auto moderation. This means that if you post on a group, and the moderator decides to ban you for any reason, all your posts to all groups you belong to must be reviewed by a moderator before they appear.
“We’re not doing social media. It’s just too risky…. It’s a waste of money… We’re doing fine without it.”
