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How do you use social media listening tools to monitor your B2B competitors' activities and reputation?

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Social media listening tools are essential for B2B marketers who want to keep an eye on their competitors' activities and reputation. By monitoring what your rivals are doing, saying, and hearing online, you can gain valuable insights into their strengths, weaknesses, opportunities, and threats. In this article, we will show you some examples of how to use social media listening tools for B2B competitive analysis.

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Sheana Hamill

CMO??Equity Consultant ??Visionary, collaborative, and inclusive GTM leader with a strong track record in capability…

1 Define your goals and metrics

Before you start using social media listening tools, you need to have a clear idea of what you want to achieve and how you will measure it. For instance, you might want to identify your competitors' target audience, pain points, and value proposition, compare their share of voice, sentiment, and engagement across different platforms and channels, discover their content strategy and keywords, find out their strengths and weaknesses in customer service, product quality, and innovation, or spot any gaps or opportunities in the market. Depending on your goals, you will need to define the relevant metrics and KPIs that will help you track and evaluate your performance. These could include volume (number of mentions or posts about your competitors), reach (potential audience size of your competitors' messages), sentiment (tone and emotion of your competitors' mentions or posts), engagement (number of likes, comments, shares, or clicks on your competitors' content), and influence (authority and credibility of your competitors' sources or influencers).

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Sheana Hamill

CMO??Equity Consultant ??Visionary, collaborative, and inclusive GTM leader with a strong track record in capability building??B2B & DTC Marketing??SaaS & Technology??P&L Owner??AI & Startups?Board Member??Twin mom ????
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The approach to measurement depends on your company's size, available resources, and objectives. For larger brands, comprehensive measurement of competitor activity is essential for accurate comparisons. And perhaps even to tailor messaging and marketing campaigns to capitalize on a competitor's mistake. On the other hand, smaller brands should start small and focus on what matters. Determine your key objectives and tailor your measurement strategy accordingly.

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2 Choose your tools and platforms

Choosing the right social media listening tools and platforms is the next step in collecting and analyzing data. Options range from free to paid, simple to complex, and general to specific. Popular and effective tools include Hootsuite, Sprout Social, BuzzSumo, Mention, and Brandwatch. Depending on your budget, needs, and preferences, you can use one or more of these tools to create a dashboard or report that will show you the data you need. You can also pick which platforms and channels to focus on, such as Facebook, Twitter, LinkedIn, Instagram, YouTube, blogs, forums, news sites, etc.

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Sheana Hamill

CMO??Equity Consultant ??Visionary, collaborative, and inclusive GTM leader with a strong track record in capability building??B2B & DTC Marketing??SaaS & Technology??P&L Owner??AI & Startups?Board Member??Twin mom ????
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Having explored various tools in the past, I recall being impressed by Meltwater's functionality and seamless user experience. Notably, it was the pioneering platform to offer a unified login encompassing essential features across brand, social media, and public relations. I used it for social listening, sentiment analysis, response management, and social posting. What further elevated its appeal was the scope it provided for public relations, enabling streamlined journalist outreach and press release distribution all through one platform. Despite my positive experience with Meltwater, I'm open to the possibility that newer and even more advanced solutions have emerged since then. After all, innovation drives continuous improvement!

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3 Analyze your data and insights

Once you have collected the data from your social media listening tools, you need to analyze it and extract the insights that will help you improve your B2B marketing strategy. You can use various methods and techniques to do this, such as benchmarking your data with your competitors’, conducting a SWOT analysis to identify their strengths and weaknesses, using gap analysis to find out where they are excelling or failing, spotting any patterns or emerging topics in their social media presence and behavior with trend analysis, and translating your insights into recommendations and actions with actionable analysis.

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4 Apply your learnings and optimize your strategy

The final step is to use your learnings and insights from social media listening tools to optimize your B2B marketing strategy. You can adjust your value proposition, messaging, and positioning to stand out from competitors and appeal to your target audience. Create and distribute content that is relevant, engaging, and valuable to attract, educate, and convert prospects. Utilize the right keywords, hashtags, and channels to increase visibility, reach, and authority in your niche. Improve customer service, product quality, and innovation to increase customer satisfaction, loyalty, and retention. Leverage any gaps or opportunities in the market to gain a competitive advantage.

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5 Monitor and measure your results

Social media listening is not a one-time activity, but instead requires regular monitoring and measurement. You should use the same tools and platforms you used for your competitive analysis to measure your results, as well as other tools such as Google Analytics, HubSpot, SurveyMonkey, and the Net Promoter Score (NPS). By doing this, you can track how your results align with your goals and metrics, as well as keep an eye on how competitors react to changes in the market. Monitoring and measuring your results allows you to identify areas that need improvement or adjustments and celebrate successes. Additionally, it provides an opportunity to learn from failures.

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How do you use social media listening tools to monitor your B2B competitors' activities and reputation?

1

2

3

4

5

1 Define your goals and metrics

2 Choose your tools and platforms

3 Analyze your data and insights

4 Apply your learnings and optimize your strategy

5 Monitor and measure your results

B2B Marketing Strategy

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How do you use social media listening tools to monitor your B2B competitors' activities and reputation?

1

2

3

4

5

1 Define your goals and metrics

2 Choose your tools and platforms

3 Analyze your data and insights

4 Apply your learnings and optimize your strategy

5 Monitor and measure your results

B2B Marketing Strategy

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