Presently, with the advancement of technology most, the business promotions have been shifted online. And for these social media platforms are being used to increase sales and to promote the business or products. So while you are doing any business it is very important to design your marketing strategy accordingly. Yes for this you can also check other company’s strategies which they are using. Keep in mind that online promotion strategy should be changed from time to time. The same promotional strategy will never allow you to get successful. So you have to keep on finding different and innovative ways so that you might remain in the competition. Here in this article, we are discussing ways to create a competitive analysis of your social media campaign.
1. Analyze the scope of the competitor’s strategy:
While creating a social media marketing strategy first thing that you have to consider is to analyze the scope of a competitor’s strategy. Before making your strategy, it is very important to know how other people are making their strategy. What are the good and bad points in your competitive strategy? After noticing all the points, now you have designed your own customized promotional strategy to promote your goods and services.
2. Analyze the role of social media platforms:
Other than that now you have to decide which platform you can easily choose for providing the customer services. And for this, you should prefer to do alliance with anyone platform so that you would resolve all your customers’ problem and make them satisfied with. We can see some of the biggest brands actually they have made the strategy for choosing specific platforms for promoting their products and services. While on the other side, they have decided that they have to deal with customers and on a certain social media platform. Just like you can simply choose Facebook and Instagram for promoting your products and Twitter to resolve customer’s issues and complains this will make it easy for both you and your customers as they will know where they have to go and for what purpose.
3. Analyze the strengths and weaknesses of competitors:
After that, the next thing that you have to do is to access your competitor’s strength and weaknesses and then accordingly decide your marketing and promotional strategy during social media campaigns. This will help you to identify the loopholes or gaps so that you would take advantage of that and earn a competitive edge. While doing so you have to consider the following things:
- Look for what strategy is applied by everyone and which points are left so that you would fill it up.
- Next you should see which tactic everyone is applying but still, there is a loophole that you can simply cover and create a competitive edge.
4. Identify the customers respond to competitor’s strategy:
The next thing that you should prefer to do while creating competitive analyses of your social media campaigns is to identify how customers are responding to your competitor’s marketing strategy. After seeing the response of customers now analyze what are the loopholes that you can cover in your strategy to gain a competitive edge and then accordingly make your strategy.