The best way to measure your brand’s influence in online marketplace is to do a deep analysis of your competitor’s performance in social media. A social media competitor analysis is highly important if you want to leverage social media is the best possible manner. Identify new social media opportunities and ways to engage with your fans and followers is highly important in social media marketing. Standing out in the race is as important as staying ahead in the race. Social media story telling is the best way to stand out. Do competitor analysis to find out if your brand stands out.
When Should I perform Social Media Competitor Analysis?
Information is vital when you want to stay ahead of your competitors in online space. Always keep in mind that the social media competitor analysis you perform is to analyze how your brand is performing in social media space against your competitors. Sometimes your brand will be performing badly or else your brand will be performing well. The main reasons to do social media competitor analysis:
1. To know how well your competitors are engaging in social media
2. To identify opportunities your competitors are missing
3. To learn the overall social media market for your brand
The study will help you to self-motivate and attain success in social media space.
When and where to start Social Media Marketing?
Once you have gathered all the information about potential customers and major competitors in social media it is the right time to start. To start you need to focus on social media networks where your potential customers. Let’s say Facebook, Twitter, Google + etc. Make sure you don’t miss the right network where you potential customers are.
What are my Social Media Marketing objectives/goals?
You need to have clear objectives/goals before you start your social media campaign. The social media campaign strategy should be made based on your brand’s social media marketing objectives/goals.
How should I measure Social Media ROI?
The biggest challenge of every social media campaign lies in the effective measurement of ROI. The clear objectives/goals you set come handy while you measure social media ROI. If you campaign was able to meet your key performance indicators and set objectives/goals then your social media campaign was a success. You can use different tools to measure social media success. Google Analytics provides traffic from social media channels.
Social media marketing can be helpful when you do it in the right way with competitor analysis, social media strategy, social media objectives and social media measurement.
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