A Practical Guide for Tracking Competitors to Boost Sales

How to Monitor Your Competitors to Increase Conversions

How to Monitor Your Competitors to Increase Conversions

Competition exists in any niche. It’s an unavoidable challenge for any business. But there’s one positive thing about having competitors: You can learn a huge deal from them. And that is how you evolve and innovate your business, by constantly learning from and keeping up with your competitors.

1. Identify and Monitor Your Competitors

When entering the niche, you are likely to know your major competitors well. Searching Google for your target keywords will give you even more ideas. When searching, make notes. Getting organized from the very start will save you lots of time going forward.

SproutSocial has a neat spreadsheet template to help you organize your competitors. Keeping a spreadsheet makes it more scalable: when expanding your team, you’ll be able to hand your data to new team members easily. You can extend the spreadsheet beyond social media and also note competitors with creative CTAs or link acquisition methods. The more integrated your spreadsheets are, the better because no marketing channel is an island.

Once you have your spreadsheet going and monitoring dashboard set-up, you can proceed to understand the data.

2. Track Your Bigger Competitors and Build Your Social Media Editorial Calendar Around Them

Research your competitor’s navigational queries and build your social media campaigns based on your findings. Your biggest competitors can provide valuable data. Treat your biggest competitor name as your keyword: Research the context, questions, and sentiment around it. Find angles you can use for your own marketing.

Grouping your competitors’ navigational queries gives you an outline of topics to build your social media promotion around. See what your competitors’ customers want most by checking what they are searching for in Google.

3. Monitor Your Competitors’ Unhappy Customers and Be There to Help

Monitor your competitors’ unhappy customers and steal them by helping them (as well as using them to improve your site and your product!). Include your competitors’ customers on Twitter. Search for their brand name with negative sentiment to find unhappy customers. Interact with them in a helpful manner. Use this kind of monitoring to also avoid making the same mistakes as your competitors.

4. Identify Your Competitors’ Most Successful Tactics on Facebook

Investigate your competitors’ Facebook business pages and see what works best for them. Use Buzzsumo’s Facebook analytics tool to analyze your competitors’ most engaging Facebook updates. Use these insights to build engagement on your own page and improve your Facebook ads.

By monitoring your competitors and implementing strategic tactics based on their successes and weaknesses, you can increase your conversions and stay ahead in your industry. Stay proactive, learn from others, and continuously improve your marketing strategies.

Interested in learning more about AI Marketing Services? Contact AI Source Hub today or check out our other blog posts for valuable insights and information.

As an advocate for the AI community, We are committed to bridging the gap between theory and practical applications in the field of AI Digital Marketing. With a strong belief in the power of collaborative learning, we actively engages with readers, encourages discussions, and shares valuable insights through his blog posts on AI Source Hub.

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