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Social Media Competitive Analysis for the Tourism Industry
 

Social Media Competitive Analysis for the Tourism Industry

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You don't really know if your social media strategies are successful if you're only measuring them against your own past performance. This presentation shows you how to gauge your most popular social ...

You don't really know if your social media strategies are successful if you're only measuring them against your own past performance. This presentation shows you how to gauge your most popular social media channels against your competitors, and how an honest execution of this exercise can lead to increased budget and staff for your social media programs.

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    Social Media Competitive Analysis for the Tourism Industry Social Media Competitive Analysis for the Tourism Industry Presentation Transcript

    • Watching Your Back: Competitive Analysis in Social Media Joe Vargo Interactive Marketing Strategist Experience Columbus @Joe_ExpCols
    • What is Competitive Analysis? • A process to benchmark your progress against a standard other than your past progress • An honest accounting of your performance compared to that of your competition • A way to gain market insights
    • Why Is Competitive Analysis Important? Checking in on your competition can give you insight into: • Who their audiences are • Their areas of product strength and weakness • The passion of their audiences for their brand • Successful and unsuccessful tactics You may be improving month-over-month, but that’s not enough to demonstrate success Results help you make a case to your CEO and Board for: • Increased budgets and staff • A believable reporting of your success
    • Who Is My Competition? If your set is not already identified, you can select a set based on: • Businesses/DMOs your sales team routinely competes against for meetings • Businesses/destinations in your geographic region of similar size • Businesses/destinations on a broader scale that serve a similar audience Don’t forget to: • Get buy-in on the list from your CEO and Board • Watch businesses/DMOs aspirationally
    • What to Measure Platforms and social channels you’re active on, and others that are commonly used in your industry. • YouTube • Blogs • Pinterest • Facebook • Twitter • Instagram Community size is helpful to track, but interactions are more meaningful to report Staff deployment and budgets
    • How to Measure: Blogs Difficult to be objective and most traffic comparing sites don’t catalog blogs of this size – enlist non-biased help Quality: Is the content visually appealing? Large blocks of text or long lists of events? Typos and other errors? Does the content inspire you to travel? * Most important Frequency: How many posts per week? Consistent over the past three months? Voice: Is the content authentic? Are there authors’ names attached? Are they all employees?
    • How to Measure: Facebook All data you need are publically available within Facebook • • • • • Number of fans Growth in fans over time Number talking about * Most important Percentage of fans talking about Any interesting tabs, promos, etc.
    • How to Measure: Twitter Interaction data are harder to come by and you need a third-party tool to measure effectively • Number of followers • Growth in followers • Interaction (Retweets, mentions and favorites)* Most important • Topics, frequency, voice
    • How to Measure: YouTube YouTube provides publically accessible viewer data under “About” • • • • • Lifetime total views New videos Growth in views over time * Most important Themes of new videos New subscribers
    • How to Measure: Instagram There aren’t great competitive analysis tools for Instagram yet, except a calculator • • • • • Number of followers Growth in followers over time Interactions (likes and comments) * Most important Average interactions per photo posted Content and perspective of photos
    • How to Measure: Pinterest There has been consolidation in Pinterest metrics sites, and there is no good competitive tool • • • • Number of followers Growth in followers over time Growth in pins Interactions (favorites, comments, repins) * Most important
    • How Do I Report My Findings • A defensible, written report detailing your methodology is important • An infographic with pared down data in chart form makes it easy to understand for those not versed in social media • Be brutally honest – this process is useless if you aren’t %Growth in Fans since August 2012 120.00% 100.00% 80.00% 60.00% 40.00% 20.00% 0.00% % of Fans Interacting Charlotte Cincinnati Cleveland Columbus Detroit Indianapolis Kansas City Louisville Milwaukee Minneapolis Nashville Pittsburgh St. Louis Charlotte Cincinnati Cleveland Columbus Detroit Indianapolis Kansas City Louisville Milwaukee Minneapolis Nashville Pittsburgh St. Louis 20.00% 15.00% 10.00% 5.00% 0.00%
    • How Do I Report My Findings • Don’t forget to include anecdotes and best practices from the best of your competition • Create a top-line report to share with all your stakeholders • Create a detailed report for your internal team • Frequency: 2-4 times/year • Budget 1 day of time per analysis