Conduct competitive benchmarking
Posted: Wed Jan 22, 2025 9:45 am
Conduct competitive benchmarking to get deep insights into industry best practices, audience resonance and strategic adjustments to differentiate your brand. Begin by gathering conducting competitive intelligence because it answers three key questions:
Who your biggest competitors on social media are and how much bulgaria b2b leads of the message you own
How your competitors’ social followers feel about them and how you can use that data
What kinds of campaigns and content strategies do your competitors use and how you can differentiate yourself
Identify top trends, topics and posts in your industry with Sprout’s Listening insights and filter them by competitor, content type, message type and sentiment. As you listen to the sentiments expressed about your competitors, identify if customers are complaining about certain competitor features and position your brand as a solution to these pain points.
But it’s not just about capitalizing on your competitors’ weaknesses. Understanding their strengths gives you a chance to improve the customer experience too.
In a recent webinar hosted in The Arboretum, Sprout’s virtual community for marketing professionals, we discussed how to leverage conversations for connection and conversion. The webinar highlighted a case study where a financial brand lagged behind competitors in overdraft protection. Analysis revealed that 80% of negative feedback was due to a lack of communication about overdraft unavailability during these downtimes.
A chart showing data from a competitive intelligence case study.
This insight led to a strategic shift: the brand developed a superior overdraft program with extended grace periods and coverage during downtimes, outperforming competitors’ offerings.
A proactive approach not only differentiated them tactically but also attracted customers from competitors, significantly enhancing their market position. Social listening was vital to identifying specific customer complaints and directly addressing them.
Who your biggest competitors on social media are and how much bulgaria b2b leads of the message you own
How your competitors’ social followers feel about them and how you can use that data
What kinds of campaigns and content strategies do your competitors use and how you can differentiate yourself
Identify top trends, topics and posts in your industry with Sprout’s Listening insights and filter them by competitor, content type, message type and sentiment. As you listen to the sentiments expressed about your competitors, identify if customers are complaining about certain competitor features and position your brand as a solution to these pain points.
But it’s not just about capitalizing on your competitors’ weaknesses. Understanding their strengths gives you a chance to improve the customer experience too.
In a recent webinar hosted in The Arboretum, Sprout’s virtual community for marketing professionals, we discussed how to leverage conversations for connection and conversion. The webinar highlighted a case study where a financial brand lagged behind competitors in overdraft protection. Analysis revealed that 80% of negative feedback was due to a lack of communication about overdraft unavailability during these downtimes.
A chart showing data from a competitive intelligence case study.
This insight led to a strategic shift: the brand developed a superior overdraft program with extended grace periods and coverage during downtimes, outperforming competitors’ offerings.
A proactive approach not only differentiated them tactically but also attracted customers from competitors, significantly enhancing their market position. Social listening was vital to identifying specific customer complaints and directly addressing them.