We’ve talked about why you should monitor your competitor’s marketing, and how to set up a monitoring dashboard to do so. But really, all that data you’re collecting on competitors is worthless if you don’t know what to do with it.

Smart data needs to lead to smart decisions.

And that means doing more than just hoarding competitor mentions in your dashboard. You need to sit down, dig in, and get analytical.

Monitoring your competitors isn’t enough—you need to sit down and analyze the data.

Whether that’s once a week, once a month, or once a quarter is up to you. But it deep dives need to be done regularly. That is, if you want to improve your brand. Today we’re talking about conducting a social media competitive analysis.

By sitting down and dedicating time to look at the data your social media monitoring dashboard has been bringing in, you’ll be able to know exactly where your social media strategy stands, compared to your competitors.

Now, once you have alerts set up to monitor competitors in Mention, creating a competitive analysis report will take about 5 minutes, tops. You’ll want to have separate alerts set up for each competitor. Read more