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Competitive Advantage - 26 Jul 17

Competitive Advantage - 26 Jul 17

Your competitive advantage

QuickPic Monitor is an easy to use monitoring tool that will allow you to filter through tons of data at the click of a button. As we’ve seen on previous posts, there are numerous reasons why it’s worth investing in, but did you know it can also be used to keep a close eye on your main competitors?

Keep the competition close

With this monitoring system, you will have access to inside details of competitors’ coverage.

The question is, why would you want to? Well, in a modern world where data and the ability to gain knowledge from said data is king, monitoring competitor coverage is another way to find and understand your audience.

What it can do

Once you have that information at your fingertips, you can take a closer look at your own following to see what these two groups have in common.

This gives you a bunch of potential profiles that might be interested in your brand and the next step after that is fairly easy. Just follow them, or target them the next time you run any sort of campaign.

While the above is certainly helpful, one can dive even deeper than that to get even more out of the data.

To get the most out of the data, you can enable various filters, which can remove unwanted and irrelevant data. The further you delve, the more specific and valuable the pool of potential customers becomes.

QuickPic can also provide you with a detailed statistical representation of the data, which makes it easier to understand, whether you simply want to review your performance against a competitor, or present the findings to management.

Make new brand friends

This tool basically assists you in your quest to find new followers and to start or maintain conversations with them. With the filters in place, you can fully explore the information supplied on any given topic.

You might already have followers who want to converse with you, which a favourable position to be in, but this tool will allow you to monitor conversations already in progress. These conversations can be between customers, potential customers or influencers related to the industry. You might not be tagged in these conversations, or you might simply miss it due to the sheer volume of chatter out there. With this tool you can find the right conversations, monitor it and then jump in with your own perfectly formulated response.

Once you start conversing with a different group of people, it will expose your company to an entirely new circle of people, which will greatly increase your brand’s visibility. At its very essence, this is what marketing is all about.

Talking about brand loyalty

Due to increasing financial constraints and the rise of social media, brand loyalty is no longer as strong as it once was. Potential customers have hundreds of options to choose from in every single sector and thanks to the internet, they have the ability to summon pages upon pages of information on every single option available.

By not engaging with your own followers, or permanently adding to the existing pool, you might find yourself in a situation where these followers no longer feel compelled to keep up with your brand. With brand loyalty at an all-time low, they might easily switch to a brand that provides them with the experience they’re after.

The 3 basics

With that in mind, it’s easy to see why it’s important to keep up with the competition. With this monitoring tool, you will get answers to the three most important basic questions about your competitors;

  • Which opportunity turned into actual coverage?

A perfect example would be a discussion on your product that you might have missed otherwise. An industry influencer might have provided incorrect info, or there was an opportunity to provide additional information to someone who was looking for it. These opportunities are often overlooked if your monitoring system isn’t capable enough.

  • Which campaign created the most buzz?

Campaigns cost a lot of money, which is why you want to monitor them very closely. Did your competitor get more value or traction out of their campaign, and if so, why? This information could play a fundamental role in your next campaign. 

  • Which influencers are the audience most excited about?

There may be important influencers out there that you don’t even know about yet and a potential customer’s decision may ultimately boil down to what this person is saying. With the right tools, you’ll have your finger on the pulse and the ability to get in on the action.

IMAGES

  • Image:
    competitive-advantage.jpg
    Date:
    26 Jul 2017
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    478367
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    600 x 389 - 105.39 KB
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