Do you know that you can spy on the competition through LinkedIn? No…; You will find out today!
You will learn how to do this and how to use this information to further develop your business or business.
There are many benefits to using LinkedIn for business. Among other things, the promotion of experience, skills and achievements, content presentation, networking and career assessment. What people often overlook is its use to extract statistics and compete for competition.
In today’s business world, everyone is competing to get the attention of the audience in a wide range of channels and with a growing volume of content. There are and are many arguments for and against monitoring competition. From the fact that it can distract you from the growth of your business to the fact that it can be a huge inspiration and launch your business. In each case, they have seized it, despite obstacles we can scarcely imagine. “
If you choose to track your competitors on LinkedIn, you need to understand who they are. They can be direct competitors who do exactly the same job as yours or indirectly with whom you compete for the “wallet” of the audience you have in common. It’s not just about who you consider a competitor, but how your potential customer sees you, so you automatically become a competitor. And so you need to know who they are and what they are doing.
LinkedIn is the largest professional network in the world with more than 650 million users and there is a surplus of information you can use.
Change your profile settings before you start the search
We said look for others, not expose yourself. So before you start researching, change some of your profile settings.
Only allow your profile to see your links. The default setting allows 1st degree connections to see your network. The common connections will remain visible but the rest will be hidden. This action will have another effect: advertisers will not be able to advertise your links.
- Some of the 1st degree links may have synced their LinkedIn account with a third party partner and can see the information there, unless you change the setting,
- LinkedIn users can see the connections that endorse the skills. If you want them strictly personal then close this feature from the settings.
Change the look of your profile to “private”. You can choose what others want to see when you see their profile, so you don’t leave a trace. When you are in private mode and you see the profile of one of your connections, you can potentially see its connections (if it has not locked them). So, they have left a door open to see their network and find customers and potential customers. Do not forget change your profile again to “fully visible” so you can see who is watching you.
Close the “those who saw this profile also saw” option. You may have noticed that LinkedIn pulls out a box that shows those who searched for LinkedIn members who searched for a profile. If you leave the option open, then those who enter your profile can very conveniently see the list of your competitors. The list of these appearances is dynamic and is updated every month. It may seem extremely useful, so you too can “play” with the settings at will.
Follow or connect with your competitors on LinkedIn
As a rule, in LinkedIn one can connect with individuals and follow companies. But one can also follow people! Connections make sense as one knows and trusts the other. Once you have determined who your competitors are, you can either connect with them or follow them.
Is it a good idea to connect with my competitors?
If you know them, yes, why not. Now that you know how to set up your options, it could be a good opportunity to share useful information even with customers you can’t serve.
Following a business (or profile) on LinkedIn, you can see the posts and articles it uploads up to there. It’s a good solution when it comes to competitors.
You can follow people, pages or topics. Up to 5000 without being connected to them.
Review your competitors’ profiles
There are points on LinkedIn where you can find information about your competitors. Let’s focus on individual profiles and company pages for starters.
If you’re not sure if your competitors are on LinkedIn, use the search. You can find people based on their professional title, industry or company size. Use keywords and filter out the results that will be generated. You may find things you never imagined.
Advice: find time in everyday life to watch the competition. Put it on the to-do list. It can be on a daily, weekly or monthly basis.
Analyze the content of your competitors’ newsfeed
The newsfeed you see is a place where you will find useful and interesting information about the work and activities of those who have posted. With your competitors in mind, take another look at the newsfeed and ask yourself:
- What are the updates that your links have posted? Can you find something that will work for you?
- Do they post professional events that they are going to attend? Should you attend too?
- Where does the posting content come from? Who or what is the original source?
- Is there an idea for content that can be adapted to your work?
- Who is commenting? Are they your customers, potential customers or partners? Do you have common connections?
Advice: Comments on LinkedIn are public, so before you comment, think about whether it’s best to send a personal message so you don’t expose information you don’t want to be exposed to. In one message you can go into more detail and more intimacy.
Explore the pages of your competitors
The information on a LinkedIn corporate page is similar to that found on a website’s “about us” page. If you have a premium account, then you will have access to information such as the number of employees in a business, their distribution by field, new hires, open jobs and more. Even if you just follow a page on LinkedIn you can access such information although you are more likely to just view articles and links to the corporate site. If you follow a page, the company does not receive a notification, although this action is visible in your profile, in the part with the interests.
Turn the information you receive into action to your advantage
So you’ve gathered a ton of information and now it’s time to see what you can do with it, so it’s really useful. When recording the results of your research, do a simple SWOT (strengths, weaknesses, opportunities, challenges). Remember that the first two are about your business while the other two are about external factors.
Once you’ve created a framework for questions about these findings, decide what kind of actions to take, which ones to stop, and which ones to continue.
In short, and as a conclusion, analyzing competition through LinkedIn can create significant opportunities for you and your business and thus rank you ahead of other businesses in your industry.
Article Writing: Filalithi Happiness