In marketing, we spend a lot of time focused on unique selling points (USPs) that make brands different. Too often, we put so much importance on differentiation; we don’t take the time to study what our competition is doing well and then replicate it. Here are three simple things your competitors can teach you on social media:
- Topics your target audience cares about. If your competitors post well-received content, it would be wise to find similar articles to share with your own tribe. It may even be that you pickup your competitor’s followers by provide more engaging content regarding the topic in question.
- Breaking industry news and trends. Most brands share industry trends across their social media channels, so your competitors can be a great source of breaking news. It’s always good to keep your finger on the pulse of your market place as disseminating important information reinforces your position as a thought leader.
- What isn’t working. If your competition is participating in Throwback Thursday posts promoting the heritage of their brand but seeing very little engagement, don’t waste your time coming up with a vintage #TBT strategy. Instead, come up with something that incorporates successful elements of social media marketing in your industry and create a campaign that pushes the envelope in another direction. You may not be successful at first, but at least you’ll be trying new things rather than wasting your time competing in a losing race.
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