7 ways to stay ahead of your competitors with Social Media!

No business or organization can afford to not have a social media marketing plan. A rule of thumb is to assume that your competitors are on social media every hour to stay in front of customers and prospects. Despite this, your business can leverage social media to become the “go-to” business in your local community. This week, Sociamerica will provide you with 7 ways to stay ahead of your competitors.

1.     Research Your Competitor

This is a no-brainer. In fact, when you are writing a business plan, it’s imperative to research competitors within a certain geographical location. The key things to find are what your competitors are not doing and what customers and prospects say that your competitor needs to change.

The way to do this is by paying attention to their business page, if they have one. It’s important to monitor how quickly your competitor responds, what is said and not said, and to read what followers say about your competitor.

2.     Collecting Data & Analyze Data

When businesses ask why social media is a way to earn money, it’s because of the data collection process. Every digital marketing agency collects data on behalf of a client to determine the necessary strategy to maximize profit and visibility. Pay attention to your competitor’s strategy (i.e. daily posting times, volume of video, audio and picture, etc.)

3.     Partner with Local Digital Media Agency

As discussed in a previous blog, it’s pragmatic to outsource your digital marketing and advertising efforts to a professional agency. A digital marketing agency has a team of digital marketers that know how to identify what your competitors are lacking and how your business can leverage their weaknesses to maximize profit and visibility for their clients.  

4.     Mobile Marketing

In 2016, mobile marketing is at an all-time high. This is why social media is more powerful than ever when it comes to business marketing. Most people have access to a mobile and they can read content every second. For your business, create a budget for mobile marketing and every week, monitor and evaluate your mobile marketing progress. A digital marketer can use a management information system to track demographics of the online users following your business through their mobile devices.

5.     Video Marketing

One of the best ways to gain followers is video marketing. In 2016, more people spend less time reading books and newspapers. Online users spend time looking at 60 to 90 second commercials on Facebook, Twitter, etc. The bottom line is video marketing is an eye-catcher, if it’s done strategically. After you produce a video, you can circulate the video in community groups and on your profile. Also, you can setup an online ad to promote your video content.

TIP: Pick a location that is most familiar to your target audience. For instance, pick a landmark that people recognize and a landmark that relates to your brand. When online users recognize a setting, they are more likely to click on your ad. This puts your business one step closer to closing a deal, brand recognition.

6.     Coalition Building

This means you should create strategic partnerships with businesses that work with your brand. If you can find a dozen business leaders that spend with you, they can share your content around your target location.

In addition, if your strategic partner respects your brand and your relationship with their company, the partner can refer you to other businesses and write a positive review online to enhance your credibility in your local business community.

7.     Online Customer Service

Social Media networks, like Facebook, provide competitors an opportunity to see what people have said about your business. Leverage social media to find what people have said about your competitor. The best thing to do is to search for what is lacking with your competitor (i.e. volume of video, time frame with responding to users’ questions, comments, etc.)

TIP: Respond to comments as quickly as possible, but with the correct information. DO NOT delete comments or questions unless those comments contain hatred or bigotry. You will never close a deal if you gain a reputation of hiding from your prospects online. Remember, commentators can serve as a prospect. Treat commentators as you would treat a prospect that is there to meet with you for an initial consultation.   

Summary:

This blog covers 7 of the countless ways to stay ahead of your competitors. Many people still underestimate the ROI for adopting a social media marketing plan. Over the next 5 years, the world will see new developments with digital media resources and networks. The businesses that will succeed are ones that do not underestimate the power of social media. Companies like Sociamerica are available to partner with your business to help you become a powerful presence online.