Wondering how you can overtake your competition in terms of likes, shares, and engagement? Don’t be afraid to give them a like and track them on Facebook. Panelists of the “Competitive Analysis on Facebook” discussion at Friday’s AllFacebook Marketing Conference in San Francisco spoke about the importance of keeping tabs on your competitors.
- Mark Curtis, founder and president, Enter: New Media
- Chris Knoch, vice president of client services, Kenshoo
- Alex Peiniger, founder and CEO, AllFacebook Stats
- Jeff Widman, co-founder, PageLever
- Emeric Ernoult, founder and CEO, AgoraPulse
- Duncan Alney, president, Firebelly Marketing (moderator)
Some key tidbits from the discussion:
- Why do competitive analysis? Businesses usually don’t have a clue about how good (or how badly) they’re doing on Facebook. Comparing data with their competitors can be a good measuring stick. (Ernoult)
- It’s easy to treat all Facebook users as identical, but they’re not. They’re not identical in terms of the bottom line, how many friends they have, and how many friends they influence. (Widman)
- If you’re unhappy with a lack of feedback on your page, figure out if people actually think your product or your company is boring, or if they simply can’t see it because it’s been hidden and lost among the other things on their news feed. (Widman)
- Being able to prove the value of the engagement is really the elephant in the room right now. (Knoch)
- Like your competitors and keep track of them through lists. This way you can easily see what your competitors are doing, without having to weed through your news feed. (Widman)
- Look at the content quality and the quality of the interaction from users, and go from there. (Ernoult)
- Use analytics to see what posts are popular, why they are popular, and base future activity on that. For instance, the most popular posts on the Tommy Hilfiger page are quotes from Tommy Hilfiger. (Curtis)
- Not everyone wants to dive deep into statistics, but they just want to see the basic metrics. (Peiniger)
- People are 60 time more likely to hide all your posts as they are to unfan your page. (Widman)
- If a competitor uses bit.ly, put a plus sign after the URL to see how many people share the link. (Widman)
Readers: If you manage a Facebook page, what insights have you gleaned by studying competitors?
Image courtesy of Shutterstock.