Social Media is the best way to connect with customers, get prospects and a lot of marketing and CRM efforts. Apart from that it can also be useful to study or research about your competition. Below are some common methods used to monitor your competitors' activities.
- You can use google alerts to know top 10 new results on the Internet Search for your competitors' name daily. Similarly you can use Twitter Alerts (TweetBeep, Twilerts), it is like Google alerts for Twitter. You can even keep track of who's tweeting your website or blog, even if they use a shortened URL.
- LinkedIn Companies page - Following a companiy and getting email notifications on the companies' updates can help with Who joined, who left, who got promoted, who's connected to whom, etc about your competitors' and is the best place to get talents also. Similarly Facebook pages can be used.
- Tools are also available to monitor your competitors’ website traffic
- Business listings - there are many business listings like MerchantCircle, Manata, Hoovers, and many other business listing sites to know about their offers, technology updates, and more
- Use various website analysis tools like Website Grader
- Subscribe to your competitor in all possible ways and monitor them regularly.
Monitoring the competitors helps you to stay ahead of them. You will know what strategies worked for them, learn from their mistakes, technology they utilize, and their up-to-date activities. So that you can take counter actions.
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