One stage often omitted from this important process is monitoring your competition. Watching your competitors online can provide a range of benefits, including identifying market opportunities, connecting with companies you should be cross-promoting, back-link insight, ad targeting options and more.
1. Google Alerts
You can set up alerts for your industry keywords or even for mentions and articles on your competition. Google Alerts lets you customize the email reports you receive by how often you’d like the notifications, type of sources, the origin of source, and languages.
2. Facebook ‘Pages to Watch’
You can see the company’s follower growth, engagement, and you can click on any to see the competitors’ top posts from the past week.
Hootsuite also serves as an excellent social listening tool for when potential customers are unhappy with the competition. Below is an example of great social listening in action. In this instance, I had tweeted dissatisfaction to Xfinity and within minutes received this tweet from their competitor:
It can also be used to analytically measure competition – you can see how the competitor’s website ranks globally, what keyword searches are driving traffic to the site, which pages generate the highest engagement, and which sites link to the competitor’s site.
5. SEM Rush
Contact websites that link to your competitors to build new relationships, start focusing on keywords that drive heavy traffic to your competition’s site, avoid social media snafu’s that failed on your competitors’ platforms, and connect with your competitor’s dissatisfied customers through social listening.
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