{"id":6818,"date":"2017-02-15T09:20:35","date_gmt":"2017-02-15T08:20:35","guid":{"rendered":"https:\/\/mention.com\/blog\/?p=6818"},"modified":"2025-03-05T13:42:13","modified_gmt":"2025-03-05T13:42:13","slug":"why-monitor-your-competitors","status":"publish","type":"post","link":"https:\/\/mention.com\/en\/blog\/why-monitor-your-competitors\/","title":{"rendered":"5 Reasons to Go Sherlock and Start Monitoring Competitors"},"content":{"rendered":"<p><&lt;\u201cEavesdropping is rude,\u201d they say. \u201cIt\u2019s not eavesdropping - it\u2019s research and it\u2019s awesome!\u201d I yell back, because I yell when I get excited.\nOkay, so listening to your coworker\u2019s private conversation with a family member? That\u2019s bad. Don\u2019t do that. But that\u2019s not the kind of eavesdropping I\u2019m excited about.\nI\u2019m talking about <strong><br \/>\n<a href=\"\/?page_id=22975\" target=\"_blank\" rel=\"noopener noreferrer\">researching your competitors<\/a>\u2019 online marketing.<\/strong> Investigating, researching, and sleuthing.<br \/>\nYou need to know your enemy, everyone knows that from <em>The Art of War &#8211; <\/em>whether or not they\u2019ve read it. If you want to win &#8211; whether that\u2019s winning a war or winning over a customer &#8211; <strong>you need to know who you\u2019re up against.<\/strong><br \/>\nLuckily, few things are private on social media. And the web in general, really. If your competitor is marketing online, you can probably find it. And analyze it. And figure out how to do it better yourself.<br \/>\nThere are tons of different things to look at: their websites, social media profiles, paid ad campaigns, email marketing sends, PR coverage&#8230;it would take too long to list it all.<br \/>\nAnd if just listing it out takes a long time, can you imagine the work that would go into actually watching all those channels?<br \/>\nNot something I\u2019d look forward to. But as with most things today, tools and software can make things easier. Don\u2019t you love when that happens? For example, there\u2019s <a href=\"https:\/\/www.ispionage.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">iSpionage<\/a>&nbsp;for PPC sleuthing. For social media, news, blogs, etc., there\u2019s Mention.<br \/>\nThat means you have no excuse <em>not<\/em> to <a href=\"\" target=\"_blank\" rel=\"noopener noreferrer\">monitor your competitors<\/a>. If you still need to be convinced, sit back and grab a cup of coffee. I\u2019ll have you geared up to <strong>go all Sherlock Holmes on investigating your competition<\/strong> in no time.<\/p>\n<h4>\n<a href=\"\" target=\"_blank\" rel=\"noopener noreferrer\">Download our free ebook&nbsp;to learn how to build a full plan for monitoring your competitors.<\/a><br \/>\n<\/h4>\n<p>[Tweet &#8220;Here\u2019s how to investigate your competitors like Sherlock Holmes via @thatbberg:&#8221;]<\/p>\n<h2>Why monitoring competitors matters<\/h2>\n<p>As a marketer, you know the importance of awareness. You\u2019re aware of your brand\u2019s strengths, weaknesses, best opportunities, and worst mistakes. And <strong>you don\u2019t just sit on that information, you use it moving forward to make data-driven decisions.<\/strong><br \/>\nFigured out that SnapChat and your industry don\u2019t mix? Fine. You\u2019ve learned something from it and can go on to testing a different strategy. You won\u2019t launch another SnapChat campaign.<br \/>\nYou need to be just as aware of the tactics your competitors are trying out. Here\u2019s why:<\/p>\n<ul>\n<li>If competitor A starts rocking at a strategy you\u2019re struggling with, you can observe the differences between to see what you could do better.<\/li>\n<li>When competitor B discontinues a feature that you still offer, it\u2019s a great time to start a marketing push for that feature to snatch up customers unhappy with the news.<\/li>\n<li>Every time competitor C gets written about in the trade press, you have one more journalist to add to your own list of targets.<\/li>\n<li>If customers of competitor D are raving like crazy about a certain feature, you can let your product team know it\u2019s a well-liked and popular option.<\/li>\n<\/ul>\n<p>That\u2019s right. Your insights won\u2019t even stay inside the marketing department. You\u2019ll be able to <a href=\"https:\/\/mention.com\/en\/blog\/reasons-to-monitor-your-brand\/\" target=\"_blank\" rel=\"noopener noreferrer\">help out sales, support, product &#8211; pretty much any team in your business<\/a>.<br \/>\n<a href=\"\/?page_id=22975\" target=\"_blank\" rel=\"noopener noreferrer\">Competitive research<\/a> will be a great way to impress your coworkers, too. See? <strong>I told you this would be worth it.<\/strong><br \/>\n[Tweet &#8220;This is why it\u2019s important to monitor your competitors online:&#8221;]<br \/>\nWant to get more specific? We can do that too. Here are some specific things you can do with your competitor insights:<\/p>\n<h3>1. Create a PR media list<\/h3>\n<p>The best way to <a href=\"https:\/\/mention.com\/en\/blog\/networking-pr-tools\/\" target=\"_blank\" rel=\"noopener noreferrer\">build PR relationships<\/a> is before you need them, right? Tracking your competitor\u2019s PR coverage will tell you what journalists are worth adding to your media list.<br \/>\nThe most time-consuming parts of building a press list isn\u2019t finding possible outlets. Normally you find too many, and it\u2019s overwhelming. The real challenge is <strong>finding outlets that <em>want<\/em> to write about your company<\/strong>, and then finding the right person to contact there.<br \/>\nFor example, in <a href=\"https:\/\/mention.com\/en\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mention<\/a> you can <strong>set up an alert for your competitor\u2019s name to see all the different journalists covering them.<\/strong> If they\u2019re writing about competitors, there\u2019s a good chance they cover your industry regularly. That\u2019s someone you want to get to know.<br \/>\n[Tweet &#8220;Build a media list of journalists covering your competitors. &#8211; @thatbberg&#8221;]<br \/>\nThis is a great alternative to spending hours combing through a media database for different journalists in a given field, and then seeing if they write about your niche. Almost like reverse engineering &#8211; <strong>find the articles about your niche <em>first<\/em>, and then see who wrote them.<\/strong><br \/>\nYou could even focus on the \u201cbig fish\u201d by using our <a href=\"\/?page_id=620\" target=\"_blank\" rel=\"noopener noreferrer\">influencers dashboard<\/a> to view only the most influential sites mentioning them.<\/p>\n<h3>2. Crack their content marketing strategy<\/h3>\n<p>By monitoring&nbsp;a competitor\u2019s blog, social media channels, etc., you can <strong>get a feel for how they\u2019re using content.<\/strong> And not just the basic \u201cwhat they\u2019re publishing and when,\u201d but also how they\u2019re marketing it and whether or not that\u2019s working.<br \/>\n[Tweet &#8220;How to use monitoring to guess your competitor\u2019s content strategy:&#8221;]<br \/>\nFirst: what are they doing?<br \/>\nDo they have a blog? What are they writing about? How often? How long are the posts? What style do they take? How do they distribute them on social? What else do they share? How do they engage?<br \/>\n<em>Lots<\/em> of questions to ask yourself.<br \/>\nAnd then <strong>take a look at how that\u2019s working.<\/strong> You may see that they\u2019re getting a lot of traction from writing about a topic you haven\u2019t considered, or from a different angle. Should you try that approach as well?<br \/>\nOr maybe you see a big gap in their content that you\u2019ve created things for &#8211; perhaps it\u2019s time for a bigger push marketing it since they can\u2019t compete there yet.<br \/>\nYou can track how often their content is getting shared, analyze the success of their <a href=\"https:\/\/mention.com\/en\/blog\/hashtag-tracking-tools\/\" target=\"_blank\" rel=\"noopener noreferrer\">branded hashtags<\/a>, and see how they\u2019re <a href=\"https:\/\/mention.com\/en\/blog\/engage-with-brand-audience\/\" target=\"_blank\" rel=\"noopener noreferrer\">engaging with people<\/a> who mention them.<br \/>\nFor example, advocate marketing software <a href=\"http:\/\/influitive.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Influitive<\/a> knows that they talk about their space differently from others in the advocate marketing space. They monitor what other companies are saying in their content to see how people are describing and shaping the newer marketing strategy.<\/p>\n<h3>3. Find their backlinks<\/h3>\n<p>By using SEO sleuthing tools and setting up alerts monitoring competitors&#8217; website, you can <strong>get real-time updates on who\u2019s linking to them.<\/strong><br \/>\nThis kind of piggybacks on point #2, since seeing what content is earning backlinks can help inform your own content marketing and strategy. Knowing which of their blog posts other content creators find valuable enough to link to will help you decide what to create yourself.<br \/>\nBut it also goes beyond creating content. You can find out how well they rank for certain keywords, figure out what keywords they\u2019re trying to rank for, and analyze the SEO of their site structure compared to your own. You can basically <strong>guess their SEO strategy.<\/strong><br \/>\n<strong>This is the perfect opportunity to use Brian Dean\u2019s <a href=\"http:\/\/backlinko.com\/skyscraper-technique\" target=\"_blank\" rel=\"noopener noreferrer\">Skyscraper Technique<\/a><br \/>\n<\/strong>. First, identify which of their pages are getting the highest rankings and most links. Next, identify what\u2019s missing or which parts could be better. Then create that new better version and reach out to people who linked to or shared the original you were inspired by.<\/p>\n<h3>4. Generate leads from unhappy customers<\/h3>\n<p>Now to turn your competitor monitoring&nbsp;into actual sales and actual money! Like I said before, monitoring can be use for more than marketing &#8211; it can grow any part of your business. So let\u2019s start bringing sales leads that are ready to close.<br \/>\n[Tweet &#8220;Use monitoring to generate leads from your competitor&#8217;s unhappy customers. &#8211; @thatbberg&#8221;]<br \/>\nMonitoring your competitors will bring in mentions of what their prospects and customers are saying on them online. Normally, randomly luring a competitor\u2019s customers over to your side of the playground would come across as pushy.<br \/>\nBut <strong>if someone is talking about a problem that you can solve, there\u2019s no reason not to let them know.<\/strong> Take one of my <a href=\"https:\/\/mention.com\/en\/blog\/close-io-social-listening\/\" target=\"_blank\" rel=\"noopener noreferrer\">favorite Mention success stories<\/a>, where <a href=\"http:\/\/close.io\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Close.io<\/a> turned one tweet into $585\/month in recurring revenue:<br \/>\n<img decoding=\"async\" class=\"aligncenter wp-image-6685 size-full lazyload\" data-src=\"https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet.png\" alt=\"close_io_tweet_monitoring_competitors\" width=\"590\" height=\"599\" data-srcset=\"https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet.png 590w, https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet-295x300.png 295w, https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet-345x350.png 345w, https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet-184x187.png 184w, https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet-24x24.png 24w, https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet-36x36.png 36w, https:\/\/mention.com\/wp-content\/uploads\/2015\/10\/close_io_tweet-48x48.png 48w\" data-sizes=\"(max-width: 590px) 100vw, 590px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 590px; --smush-placeholder-aspect-ratio: 590\/599;\" \/><br \/>\nBecause Close.io was monitoring their competitor\u2019s name, they found a possible customer for themselves. And since you can tell that Pablo there was clearly frustrated and would be in need of another solution, chiming in was <a href=\"https:\/\/mention.com\/en\/blog\/media-monitoring-for-sales\/\" target=\"_blank\" rel=\"noopener noreferrer\">helping more than selling<\/a>.<br \/>\nAnd if you already have an alert set for monitoring your competitor, you\u2019ll find these in real time and be able to pounce before another competitor does!<\/p>\n<h3>5. Collect important product feedback<\/h3>\n<p>So your company already <a href=\"https:\/\/mention.com\/en\/blog\/collecting-product-feedback\/\" target=\"_blank\" rel=\"noopener noreferrer\">collects feedback<\/a> about its own product and business, because what business doesn\u2019t? Plus, when a customer\u2019s unhappy they\u2019ll make sure you know.<br \/>\nBut that doesn\u2019t tell you everything you need to know.<br \/>\nJust like with the holes in your competitor\u2019s content, <strong>use insights from their customers to find holes in their product.<\/strong><br \/>\nFor example, if your competitor has a separate Twitter account for customer support, definitely monitor all tweets to and from that account closely. You\u2019ll see what parts of the competition people don\u2019t like or have problems with. Then you\u2019ll know what missteps to avoid on your own product and which features tend to confuse people.<\/p>\n<h2>Get sleuthing<\/h2>\n<p>Monitor your competitors to learn from their successes &amp; failures instead of just your own.<br \/>\n[Tweet &#8220;Monitor your competitors to learn from their successes and failures. &#8211; @thatbberg&#8221;]<br \/>\nOverall, the best benefit of monitoring competitors&nbsp;is that you can avoid a lot of mistakes. Either you see something they\u2019re doing right and can implement it before you miss out any more, or you can <a href=\"https:\/\/www.youtube.com\/watch?v=ouVaNIgGnX4\" target=\"_blank\" rel=\"noopener noreferrer\">learn from someone else\u2019s mistakes<\/a>.<br \/>\nThen there\u2019s the added benefit of being able to reverse engineer their marketing strategies based on what content they put out. From engagement to SEO and content &#8211; it\u2019s all public, you just need the tools to find it easily.<br \/>\n<a href=\"https:\/\/www.youtube.com\/watch?v=vrbcZtrcAAY\" target=\"_blank\" rel=\"noopener noreferrer\">Setting up alerts<\/a> for your main competitors will give you all of that information in one place.<\/p>\n<h3>Ready to learn more about competitor monitoring?<\/h3>\n<p><!--HubSpot Call-to-Action Code --><br \/>\n<span id=\"hs-cta-wrapper-98430c38-a568-45bb-b89e-0d183a115b94\" class=\"hs-cta-wrapper\"><br \/>\n\t<span id=\"hs-cta-98430c38-a568-45bb-b89e-0d183a115b94\" class=\"hs-cta-node hs-cta-98430c38-a568-45bb-b89e-0d183a115b94\"><br \/>\n\t\t<!-- [if lte IE 8]>\n\t\t\n\n<div id=\"hs-cta-ie-element\">\n\t\t<\/div>\n\n\n\t\t<![endif]--><br \/>\n\t\t<a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/1896803\/98430c38-a568-45bb-b89e-0d183a115b94\"><br \/>\n\t\t\t<img decoding=\"async\" id=\"hs-cta-img-98430c38-a568-45bb-b89e-0d183a115b94\" class=\"hs-cta-img lazyload\" style=\"border-width: 0px;\" data-src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/1896803\/98430c38-a568-45bb-b89e-0d183a115b94.png\" alt=\"competitor monitoring\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\"><br \/>\n\t\t<\/a><br \/>\n\t<\/span><br \/>\n\t<script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\">\n\t<\/script><br \/>\n\t<script type=\"text\/javascript\"> hbspt.cta.load(1896803, '98430c38-a568-45bb-b89e-0d183a115b94', {}); <\/script><br \/>\n<\/span><br \/>\n<!-- end HubSpot Call-to-Action Code --><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":72,"featured_media":27485,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[319,340],"tags":[],"class_list":["post-6818","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>5 Reasons to Go Sherlock on Monitoring Competitors<\/title>\n<meta name=\"description\" content=\"If you&#039;re monitoring competitors, you can get real-time updates to guess &amp; analyze their marketing strategy for yourself. 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