{"id":3531,"date":"2016-07-19T14:56:49","date_gmt":"2016-07-19T14:56:49","guid":{"rendered":"http:\/\/postcron.com\/en\/blog\/?p=3531"},"modified":"2018-02-07T21:12:02","modified_gmt":"2018-02-07T21:12:02","slug":"social-network-competition-analysis","status":"publish","type":"post","link":"https:\/\/postcron.com\/en\/blog\/social-network-competition-analysis\/","title":{"rendered":"HOW TO PERFORM A COMPETITION ANALYSIS ON SOCIAL NETWORKS IN 5 STEPS (DOWNLOADABLE TEMPLATE INCLUDED!)"},"content":{"rendered":"

\"competition<\/a><\/strong><\/p>\n

Certainly you\u2019ve heard the sentence that became famous thanks to Al Pacino in The Godfather II: \u201ckeep your friends close and your enemies closer<\/strong>\u201d. <\/em>Well, this is exactly what you have to do with your competitors on social networks, with the exception of viewing them as enemies but rather as allies who, without being aware of it, will propel your business towards success.<\/strong><\/p>\n

And what\u2019s the best way to keep your competitors close on social networks? Be observing them, seeing what they\u2019re doing and carefully analyzing them.<\/p>\n

That is: performing competition analysis must be part of your <\/strong>strategies on social networks<\/strong><\/a>.<\/p>\n

Think about it, how are you going to be able to know if your <\/strong>marketing on social media<\/strong><\/a> strategy is functioning if you don\u2019t know what your competitors are doing?<\/strong><\/p><\/blockquote>\n

And better yet: how are you going to be able to make intelligent decisions <\/strong>that will help you keep your clients up to date and attract new ones if you know nothing about your competition?<\/p>\n

Burn this in your mind: the closer your competitors are, the better the possibility you\u2019ll have of knowing whether your social media actions will do well or if instead there\u2019s something you should enhance, leave out or revise.<\/p>\n

Now, how do you perform a competition analysis <\/strong>an have it be effective, what data should you analyze <\/strong>from your competitors and what <\/strong>tools<\/strong><\/a>\u00a0 can help you during the process?<\/strong><\/p>\n

I\u2019ll be going into to detail on all this information so that when you finish reading this article, you\u2019ll feel like a true expert in competition analysis. Additionally, I\u2019ll be sharing a template that you can download and can begin your competition analysis right now. Do you dare become one of the greatest spies <\/em>of all time?<\/strong><\/p>\n

\"competition<\/p>\n

Why should you perform a competition analysis? 12 reasons that will make you say \u201cyes, I should\u201d<\/strong><\/h2>\n

If you are wondering why it\u2019s so important to perform and analysis of your competitors<\/strong>, then you\u2019re going to find all the answers you ever needed so you never have to ask yourself this question again.<\/p>\n

Analyzing your competitors will not only help you to thoroughly get to know them, know what they are doing, how they\u2019re doing <\/strong>or to check out if they\u2019re growing more or less <\/strong>but will also help you find out where you stand in regards to them <\/strong>while at the same time it will enable you to make decisions that will help you improve the potential of your strategy <\/strong>on social media. But there\u2019s still more, much more.<\/strong><\/p>\n

So, if you\u2019re wondering why you should invest some of your oh so valuable time to conducting this competition analysis<\/strong>, today I\u2019m giving you reason that will help you want to start right away (in fact, the good news is that you\u2019ll be able to start as soon as you\u2019re done reading). <\/em>Take notes!<\/p>\n

Why perform an analysis of your competitors? 12 reasons to say \u201cyes\u201d<\/strong><\/h3>\n

\"competition<\/a><\/p>\n

    \n
  1. It\u2019ll provide you with a general overview <\/strong>of your industry.<\/li>\n
  2. It will help you know how your competitors are communicating with their audience.<\/strong><\/li>\n
  3. You\u2019ll know what your competition is doing <\/strong>at all times, wherever you are.<\/li>\n
  4. You\u2019ll be able to identify the strong and weak aspects <\/strong>of your strategy and theirs.<\/li>\n
  5. It will enable you to get to know your clients better <\/strong>and have a clearer idea on their habits.<\/li>\n
  6. It will become your inspiration <\/strong>for doing new things and implementing more powerful actions.<\/li>\n
  7. It will help you detect things you never thought about <\/strong>and that are relevant.<\/li>\n
  8. It will enable you to find out what you\u2019re doing well and what not <\/strong>(and act accordingly).<\/li>\n
  9. You\u2019ll avoid surprises <\/strong>since you\u2019ll be aware of all your movements.<\/li>\n
  10. It\u2019ll help you to stay ahead of your competition <\/strong>since by analyzing them you\u2019ll be able to predict their behavior.<\/li>\n
  11. It\u2019ll allows you to monitor the activity <\/strong>and evolution of your competitors and thus you can compare yourself to them.<\/li>\n
  12. You\u2019ll avoid getting bogged down and it\u2019ll further enhance <\/strong>positioning yourself as a bench mark in your sector.<\/li>\n<\/ol>\n

    And finally, seeing what others are doing will help you improve your own strategy on social networks and cause your business to be much better.<\/strong><\/p>\n

    \"competition<\/p>\n

    But it\u2019s important that you remember this is not about spying on your competition, but rather analyzing them to be able to get the most out of your own strategy. Basically:<\/p>\n

    Your competition analysis doesn\u2019t consist of spying or copying but rather in taking ideas and finding your competitive advantage.<\/em><\/strong><\/p><\/blockquote>\n

    And now that you know why you should frequently perform an analysis of the competition, do you want to know how to do it and what you should take into account to be able to get the max benefits? <\/strong>Well then, let\u2019s go!<\/p>\n

    How to make a competition analysis on social networks in 5 steps<\/strong><\/h2>\n
      \n
    1. \n

      Identify who your competition is<\/strong><\/h3>\n<\/li>\n<\/ol>\n

      The first step in analyzing your competitors is knowing who they are and where they are; <\/strong>so search Google<\/a> \u00a0on as well as your competition\u2019s social networks and make sure you at least find a four competitors. <\/strong>By doing so, you\u2019ll have enough data to analyze.<\/p>\n

      For your competition analysis to be comprehensive you must focus on two types of competitors:<\/strong><\/p>\n