It is very important to keep an eye on your industry. Now healthcare industry is more and more dynamic and fast moving. By understand competitors more, we are able to detect and determine suitable marketing strategy to increase branding effects. Many healthcare food brands regardless large or small, they move focus to social media such as Face book, Twitter. Because the customers become highly dependent on on-line community. They visit virtual shops on their device wherever they are, on bus, at bedroom or working place. If we ignore competitor`s on-line actions, it could be a big loss on market battle. So don`t fall behind.
Why such important to track others
There are many reasons to look at what your “neighbours” doing. You might get more information on their promoting products, how they launch new fish oil capsule. Also we will find that they might have different business insights. So that we can reconsider to improve our perspectives. More importantly, the conduction between your competitors and customers can be seen. By understand these; we can do more about customer base and find what is more attractive and interested for followers. Joel introduced a few tools to assist analysis, which measure output by data and figures.
How to keep up with your competitors
There are several ways to catch your competitors on social media. Either following or liking them post, or subscribing on their open page. Most healthcare brands maintain their page like organize their real shops. Blackmores Page as example, they update their content and keep them refresh. As a follower and give them a “like”, even leave your comment which also been responded. It is also great to know that what they are putting in the first place and what customers like most. Therefore, we will get much more valuable information from that.
How to use the information
We can improve our product and brand from the information gained. The best thing is to find out what `s working for our competitors and what is not. So that we can gradually learn from those lessons. The concept is not to copy competitors` content but the plan and strategy can be used to us. To look at their contents, we will be inspired and motivated by our competitors. Moreover, we can use the information found to build up relationship with competitors. Sometime, cooperation is business strategy and benefits both business.