Using social media as a way to market your brand, products or services is something you should know about already but have you ever thought about using it to gather information on your competitors?
Before we go any further we are not talking here about industrial espionage and stealing secrets from your competitors. Instead, we are looking at social media as a legitimate means to see what other businesses in your niche, sector or industry are doing publicly and using that information to improve what you do in your business.
The first thing to realise is that the social media pages and profiles of most businesses are in the public domain anyway. This means anyone, including you, is able to see what they post, and read any of the updates, quotes and comments that they make. Most people seeing them will just take the post at face value, but for you, they can contain golden nuggets of information.