Social media is a part of modern life and for any business
owner, it should be a daily activity to check on – and post to
– your company accounts.
I’ve talked before about the importance of social media
analytics, not only for your conversion rates but also because
tracking the right social media KPIs can help you understand how
your potential client base behaves.
But the same information can also be used to get social
intelligence about your industry, marketplace, and competitors. Any
marketer worth their salt knows that keeping an eye on the
opposition is just as important as what you’re doing with your
Having a competitive marketplace is good for all. It encourages
brands to constantly strive to meet the needs of consumers better
than their competitors and it means consumers are able to choose
from a variety of sources for their products and services.