Your Guide to Social Media Competitive Analysis
No matter what kind of business you have, you will be facing competition. These might be older, more established companies with loyal clientele and a legion of fans on social media, or they might be new competition coming out of the woodwork trying to destabilize your place in the market.Getting the edge over your competitors is absolutely essential if you want your business to succeed, but that’s easier said than done - just knowing who they are and what they sell isn’t enough to beat them.This is where social media competitive analysis and competitive intelligence come in.What exactly is social media competitive analysis, and how do you collect the relevant intelligence? How do you use it? Read on to find out.