Competitive Edge: Use Social Media to Learn Their Strategies, Methods, and Metrics

Business gaining competitive edge through social media

Yesterday, Social Media Examiner published a great post on How to Gain Competitive Insight with Social Media. It was such a well-thought out, detailed piece that we just had to share it.

In the post, author Kristi Hines lays out several different methods of utilizing social media to get a full spectrum view of the competition. With this information, you can fine tune your social media strategy and gain a strong competitive edge.

While the whole post is packed with valuable insight and great tips, we picked out some highlights that we felt were great takeaways.

Twitter

  • Find specific competitors on Twitter by searching the company name and the word Twitter on Google, or use Twitter directories like Twellow and WeFollow to find competitors in your industry
  • Gain insights to their Twitter strategy by viewing their past tweets.  What are they promoting, what information are they sharing, and what kind of conversations are they having with their followers?
  • See who’s listening by checking out their follower list.  You can easily view specific information like their location and their latest tweets.
  • See what people are saying about the competition by doing a quick Twitter search for an @ mention of their Twitter username: @competitorname

Facebook

  • Find specific competitors on Facebook by checking their website for the link, or searching for their Facebook Page on Google. You can also use the Browse all Pages section on Facebook to search for competitors in your industry.
  • You can gain a lot of insight into your competitor’s Facebook strategy by viewing the sections of their page, their posts on their wall, and the conversations they’re having with their connections
  • See how active their fans are by viewing their likes, comments, and wall posts. What are they doing, or not doing, to engage their fans?

LinkedIn

  • Just like with Twitter and Facebook, you can find your competitors on LinkedIn by finding the link on their website, doing a Google search, or using their search functionality
  • See who’s following the company by browsing their followers. You may be able to pick up some key demographics here.
  • View the company’s employees and check out their job titles and functions, years of experience, level of education, job function composition, annual company growth, and more
  • Gain insight into the competitor’s LinkedIn strategy by viewing their Recent Blog Posts and Activity to see what they’re doing to build a strong network

Other Social Media Platforms

  • Check out your competitors’ video strategies by searching for them on YouTube
  • Find your competitors and view their profiles on geobased social networks like Foursquare, Gowalla, and Facebook Places.
  • Search through message boards and forums on Boardreader.com
  • If your company does business locally, check the local search and review directories like Yelp, Google Places, and Merchant Circle

Check out the full article here for detailed information on the tips highlighted above, and tell us in the comments section below what strategies you’re using to gain an edge over your competition.

http://boardreader.com/Bo
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