Social Media Competitive Analysis: How to Test Content Without Testing (#SMX Social 2014)
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Competitive analysis can help your optimize your social media content without the challenges and risks of traditional testing. In social media, there is a goldmine of public data about your competitors that you can analyze to inform your own strategy, tactics, and content tests. My slides from #SMX Social panel #21B.
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Social Media Competitive Analysis: How to Test Content Without Testing (#SMX Social 2014)
- 1. COMPETITIVE ANALYSIS: How To Test Social Content Without Testing Adam Schoenfeld CEO, Simply Measured @schoeny #SMX #21B
- 2. 2 © 2014 Simply Measured, Inc
- 3. © 2014 Simply Measured, Inc 5 Dimensions of Social Analytics PERFORMANCE MEASUREMENT MARKET ANALYSIS Audiences Conversations Competitors Social Marketing Social Responses
- 4. Competitive Analysis is a Unique Opportunity in Social © 2014 Simply Measured, Inc Content by your competitors Content about your competitors Feedback on your competitors Competitor performance metrics Competitor strategy 4
- 5. © 2014 Simply Measured, Inc Inputs for Competitive Analysis 5 Aspirational Brands Direct Competitors Audience Competitors
- 6. Competitive Analysis vs Other Strategies to Optimize General Specific © 2014 Simply Measured, Inc 6 Industry Study Competitive Analysis General Best Practices Testing Harder Easier
- 7. © 2014 Simply Measured, Inc Moving Beyond Benchmarks 7 Complexity Value Competitive Insights Competitive Analysis Custom Benchmarks General Benchmarks
- 8. Variables You Can “Test” with Competitive Analysis Channel Imagery Medium/Type © 2014 Simply Measured, Inc 8 Messaging Timing
- 9. © 2014 Simply Measured, Inc Building Your “Tests” on Large Datasets Low Average High 9
- 10. © 2014 Simply Measured, Inc Testing for Different Results & Activities 10 Channel Timing Messaging Medium/Type Imagery • Engagement • Response • Reach • Clicks
- 11. Examples
- 12. © 2014 Simply Measured, Inc Timing 12
- 13. 0:00 1:00 2:00 3:00 4:00 5:00 6:00 7:00 8:00 9:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 Monday 127 360 256 233 683 99 672 742 66 547 58 196 639 457 210 555 129 222 46 693 53 60 162 1,086 Tuesday 418 - 333 265 230 617 51 595 286 97 190 354 492 81 211 255 446 672 79 142 137 241 986 1,130 Wednesday 31 776 510 427 557 201 109 274 305 197 281 516 163 277 490 415 83 186 127 235 101 71 150 275 Thursday 820 86 327 2,066 91 90 167 492 310 183 154 148 125 367 325 123 353 297 118 319 49 151 681 151 Friday 154 245 449 69 872 955 394 119 1,110 117 142 363 229 208 230 1,162 95 198 54 209 139 101 493 878 Saturday 204 113 317 147 293 242 262 307 134 211 188 234 233 147 566 294 92 150 252 152 252 115 155 849 Sunday 268 762 337 375 690 465 413 130 440 210 1,300 312 355 551 130 321 74 309 646 246 1,065 352 459 845 TOTAL 295 348 355 478 536 376 293 400 396 207 242 301 311 278 302 390 205 299 148 298 193 142 501 764 © 2014 Simply Measured, Inc Timing 13
- 14. © 2014 Simply Measured, Inc Messaging 14 Source: Wordle.net
- 15. © 2014 Simply Measured, Inc Messaging 15
- 16. © 2014 Simply Measured, Inc Medium / Content Type 16
- 17. © 2014 Simply Measured, Inc Medium / Content Type 17
- 18. © 2014 Simply Measured, Inc Imagery 18
- 19. © 2014 Simply Measured, Inc Channel 19 • Aggregate Metrics Across Channels • Compare Content Tactics & Campaigns by Channel
- 20. Additional Benefits to Using Competitive Analysis You Can… You Don’t Need… © 2014 Simply Measured, Inc 20 • Build a very large dataset to analyze • Get very granular in your analysis • Test several variables and KPIs • An active profile of your own in the channels you’re testing • To wait for results (the data is there) • The pain of failed tests
- 21.
Editor's Notes
- About Me: Co-Founder and CEO at Simply Measured, data geek, breakfast fan. @schoeny on Twitter. Simply Measured is the leader in social media analytics. Our platform makes social analytics accessible to every marketer on your team - no data science degree required. Simply Measured helps you gain the most complete view of your brand in social media from performance measurement to competitive analysis and consumer insights. Based in Seattle, Washington, Simply Measured supports more than 35 percent of the top 100 global brands and has more than 100,000 users.
- Social Analytics has been a confusing area to define. There are a lot of buzz words and conflated activities within social analytics Listening Influencer scoring Brand benchmarks Text analytics Media monitoring Sentiment Social ROI etc
- Social analytics has 5 core inputs that serve 2 objectives. 2 inputs based on activities your brand controls. Social marketing activities Social response / social care / community engagement activities Purpose: Measure performance, Optimize results. 3 inputs based on activities outside of your brand’s control. Audiences Conversations Competitors Purpose: Market Analysis & Intelligence.
- Example: BMW directly competes with Mercedes, Audi, etc Competes for audience with Gucci, Whole Foods, Amex, etc Aspirational brand for BMW might be Starbucks.
- General benchmarks are everywhere. To get more value more to custom benchmarks, competitive analysis, and insights.
- I could run this across 1000s of posts. I don’t even need a profile to do this kind of analysis.