{"id":11218,"date":"2017-05-31T19:31:32","date_gmt":"2017-05-31T17:31:32","guid":{"rendered":"https:\/\/mention.com\/blog\/?p=11218"},"modified":"2024-07-15T09:32:58","modified_gmt":"2024-07-15T09:32:58","slug":"competitive-monitoring-metrics","status":"publish","type":"post","link":"https:\/\/mention.com\/en\/blog\/competitive-monitoring-metrics\/","title":{"rendered":"8 Competitive Monitoring Metrics You Need to Outsmart Your Competition"},"content":{"rendered":"\n<p>When I was nine years old, I ran home and told my mom with a wide grin on my face, \u201cI got 9\/10 in my last test!\u201d<\/p>\n\n\n\n<p>Instead of giving me a pat on the back, she asked, \u201cwhat scores did the others get?\u201d<br>That hit me pretty hard. Not gonna lie, that test was easy, and quite a number of my classmates scored 10\/10.<\/p>\n\n\n\n<p>But before we go off on a tangent about Asian parenting, the lesson here is you can\u2019t evaluate how well you\u2019re doing without comparing against others.<\/p>\n\n\n\n<p>Same goes for your brand.<\/p>\n\n\n\n<p>It\u2019s always better to get that reality check yourself than have someone else tell you, \u201cyou aren\u2019t as good as you think.\u201d<\/p>\n\n\n\n<p>And that\u2019s where <a href=\"\/?page_id=22975\" target=\"_blank\" rel=\"noreferrer noopener\">competitive monitoring<\/a>\u00a0comes in handy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why bother monitoring your competitors?<\/h2>\n\n\n\n<p>If you\u2019re wondering <a href=\"https:\/\/mention.com\/en\/blog\/why-monitor-your-competitors\/\" target=\"_blank\" rel=\"noreferrer noopener\">why you should spy on your competitors<\/a>, here are a few reasons:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Benchmark your brand: <\/strong>you can\u2019t tell how good your brand is doing if you don\u2019t know where you stand in your industry. You may think having 500 mentions a week is great, but what if your competitors are bringing in 5,000? Competitive monitoring gives context to your own metrics.<\/li>\n\n\n\n<li><strong>Learn from their hits and misses: <\/strong>You\u2019re able to watch your competitors\u2019 business strategies play out, and analyzing them helps you learn from others\u2019 mistakes and avoid making them yourself. Likewise for their successes.<\/li>\n\n\n\n<li><strong>Find new opportunities: <\/strong>Monitoring is not just about watching and taking notes. It\u2019s also about using the intel to take actions. And that can range from reaching out to influencers talking about your competitors to generating leads from their unhappy customers.<\/li>\n<\/ul>\n\n\n\n<p>But the list of benefits goes on. The thing is, competitive monitoring gives you key insights to make better decisions, and that can <a href=\"https:\/\/mention.com\/en\/blog\/reasons-to-monitor-your-brand\/\">go beyond marketing and sales<\/a>. It can be used for <a href=\"https:\/\/mention.com\/en\/blog\/collecting-product-feedback\/\">improving your product<\/a>, your <a href=\"\/en?page_id=22973\">customer support<\/a>, or your PR strategy.<\/p>\n\n\n\n<p>The great thing about competitive monitoring is it pulls in all this data without you having to go searching. Your monitoring tools automatically collect a range of valuable information.<\/p>\n\n\n\n<p>But what exactly should you be looking at, and what do you make of each of those metrics?<\/p>\n\n\n\n<p>In this post, I\u2019m going to explain all the different metrics you should track, and why they matter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">8 competitive monitoring metrics every brand needs to track<\/h2>\n\n\n\n<p>Some of these metrics you may need to track constantly. Others you can just take a look every once in a while, when you\u2019re changing strategies or looking for new ideas.<br>Let\u2019s start with the most important:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Share of voice<\/h3>\n\n\n\n<p>You may already know who\u2019s the market leader in terms of revenue generated. But does more revenue mean more popular on the cyberspace? <a href=\"\/en?page_id=59732\" target=\"_blank\" rel=\"noreferrer noopener\">Share of voice<\/a> tells you who\u2019s creating the most buzz online.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"https:\/\/mention.com\/teg\/share-of-voice-calculator.jpg\" alt=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/mention.com\/en\/share-of-voice-calculator\/\" target=\"_blank\" rel=\"noreferrer noopener\">Share of Voice Calculator<\/a><\/figcaption><\/figure>\n\n\n\n<p>If you\u2019re generating a lot of sales but not a lot of online discussions, it may mean that your marketing team needs to step up their game, and that you\u2019re leaving money on the table.<\/p>\n\n\n\n<p>On the other hand, if you\u2019re being mentioned a lot online, but your sales numbers aren\u2019t reflecting that, you might want to look into what those conversations are about, or reevaluate your online marketing strategy.<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-16.png\" alt=\"pasted image 0 16\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 837px; --smush-placeholder-aspect-ratio: 837\/569;\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Share of voice over time<\/h3>\n\n\n\n<p>To take it one step further, share of voice over time lets you see the evolution and identify trends.<\/p>\n\n\n\n<p>You can track different time periods of holidays and festivals &#8211; if you\u2019re in B2C &#8211; or campaign launches, to see the correlation between your competitors\u2019 marketing efforts and the buzz generated.<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-20.png\" alt=\"pasted image 0 20\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 567px; --smush-placeholder-aspect-ratio: 567\/416;\"><\/p>\n\n\n\n<p>For example, you can look for large spikes in social media activity for your competitors. Then go through the mentions to pinpoint why more people were talking about them than usual. Is it a successful strategy you could adapt? If you noticed dips in certain periods, see if there\u2019s a pattern, and grab the opportunity to push extra hard on campaigns during their down times.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Share of voice by locations<\/h3>\n\n\n\n<p>This is crucial when your business is international, or if you want it to be. When entering a new market, it\u2019s important to know what the existing playing field looks like.<\/p>\n\n\n\n<p>Who\u2019s leading in what countries?<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-19.png\" alt=\"pasted image 0 19\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 847px; --smush-placeholder-aspect-ratio: 847\/408;\"><\/p>\n\n\n\n<p>By looking at what countries your competitors are present, you might also discover new markets that you should venture into. If you\u2019re contemplating opening a new office, check where you\u2019re most popular, and go where your potential customers are.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Top languages<\/h3>\n\n\n\n<p>This goes hand in hand with share of voice by locations. By looking at the top languages of your competitors\u2019 mentions, you\u2019ll discover new demographics to target. You may find that you need to adapt your marketing campaigns, website, and offer support in specific languages that you didn\u2019t think about.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Brand sentiment<\/h3>\n\n\n\n<p>Sentiment is kind of like a metric that adds context to other metrics. So you might have the majority of the share of voice against your competitors, but you won\u2019t want that if all those conversations are negative.<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-17.png\" alt=\"pasted image 0 17\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 847px; --smush-placeholder-aspect-ratio: 847\/420;\"><\/p>\n\n\n\n<p>It will add more context to your share of voice metric, and compare and contrast the sentiment of different competitors\u2019 social mentions. You\u2019ll be able to report on how the market views your brand in comparison to your competitors in response to different campaigns and events.<\/p>\n\n\n\n<p>You can also look at individual positive and negative mentions of your competitors. What do people like and dislike about their product or marketing campaigns? This can help your sales, marketing, and product team figure out how to offer more of what your customers are looking for.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6. Top platforms<\/h3>\n\n\n\n<p>As much as it\u2019s important to know where your audience are physically, we need to know where they are digitally. That\u2019s where top platforms come in handy.<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-18.png\" alt=\"pasted image 0 18\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 852px; --smush-placeholder-aspect-ratio: 852\/605;\"><\/p>\n\n\n\n<p>You can have a clear view of which channels bring in the most discussions for you and your competitors, be it social media, blogs, forums, or more.<\/p>\n\n\n\n<p>This helps you figure out where you need to double down and focus on, and which ones you should just forget about.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7. Top influencers<\/h3>\n\n\n\n<p><a href=\"https:\/\/mention.com\/en\/blog\/influencer-strategy\/\" target=\"_blank\" rel=\"noreferrer noopener\">We talk about influencer marketing<\/a>\u00a0a lot at Mention. We know that influencers can help you grow your audience quickly. The problem is, they aren\u2019t that easy to find, especially if you\u2019re just starting out. And even if you\u2019re an established brand, you can never get enough of them.<\/p>\n\n\n\n<p>So tracking your competitors\u2019 is a great way to build your influencers network. Since they\u2019re already talking about your competitors, they\u2019re more likely to say yes when you reach out. Their audience will also probably be a great fit for your brand.<\/p>\n\n\n\n<p>So if you\u2019re Samsung, you\u2019d want to look out for the top influencers talking about Apple, and make sure they\u2019re talking about you, too.<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-21.png\" alt=\"pasted image 0 21\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 1324px; --smush-placeholder-aspect-ratio: 1324\/478;\"><\/p>\n\n\n\n<p>With Mention, you can find influencers on social media (Twitter and Instagram) or the web, see their interest topics and other info, and interact with them directly from the app.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">8. Trending topics<\/h3>\n\n\n\n<p>Trending topics is a quick way to find out what conversations about your competitors are about, without having to go through every single mention.<\/p>\n\n\n\n<p><img decoding=\"async\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2017\/05\/pasted-image-0-15.png\" alt=\"pasted image 0 15\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" style=\"--smush-placeholder-width: 1234px; --smush-placeholder-aspect-ratio: 1234\/432;\"><\/p>\n\n\n\n<p>This is useful for understanding what people are most interested in, so you can steal ideas for content creation and future marketing campaigns.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Start sleuthing<\/h2>\n\n\n\n<p>Over the past few months, we\u2019ve given you all the <a href=\"https:\/\/mention.com\/en\/blog\/why-monitor-your-competitors\/\" target=\"_blank\" rel=\"noreferrer noopener\">reasons you need to start spying<\/a>, a <a href=\"https:\/\/mention.com\/en\/blog\/competitive-monitoring-strategy\/\" target=\"_blank\" rel=\"noreferrer noopener\">competitive monitoring strategy<\/a>, how to do a <a href=\"https:\/\/mention.com\/en\/blog\/social-media-competitive-analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">5-minute competitive analysis<\/a>, and now, all the metrics you need to be looking at. Honestly, there\u2019s only so much we can say. All that\u2019s left is for you to pull the trigger.<\/p>\n\n\n\n<p>If you\u2019re ready to take the plunge into the exciting world of competitive monitoring, see how Mention can help you:<br><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/1896803\/acd18f65-cb9e-4fe0-bfae-0dec831a4b88\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When I was nine years old, I ran home and told my mom with a wide grin on my face, \u201cI got 9\/10 in my last test!\u201d Instead of giving me a pat on the back, she asked, \u201cwhat scores did the others get?\u201dThat hit me pretty hard. Not gonna lie, that test was easy, &hellip; <a href=\"https:\/\/mention.com\/en\/blog\/competitive-monitoring-metrics\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">8 Competitive Monitoring Metrics You Need to Outsmart Your Competition<\/span><\/a><\/p>\n","protected":false},"author":144,"featured_media":11223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[319,340],"tags":[],"class_list":["post-11218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media-monitoring","category-competitive-analysis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Competitive Monitoring Metrics to Help You Outsmart the Competition<\/title>\n<meta name=\"description\" content=\"Learn these 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