Competitive Analysis | Rival IQ
Short description : Competitive Analysis
Want to analyze your social trends? Rival IQ provides you with reports on your favorite social accounts.
Long Description : Competitive Analysis
Rival IQ57% of consumers follow brands to be informed of new products/services. This kind of statistic has led many companies to use social media to drive traffic to their sites. As a result, these companies limit themselves to analyzing the permanence of their sites and devote very little effort to analyzing their social data. I am convinced that it is a mistake to do so and before making an objection, let me show you the interest of regularly analyzing the data from your social accounts. 😉 Indeed, 50% of 16-24 year olds search for products on social media. This means that social media is not just a place to show your offers to people who are likely to buy them. They will allow you to meet people who are already looking for your products and are ready to buy them. Thus, putting social media at the heart of your marketing strategy will, for example, allow you to define alerts to know when someone mentions your brand online. And this is still possible thanks to Rival IQ, a powerful social data analysis tool that will allow you to have reports for your accounts, those of the competition and those of your influencers. In this description, I will discuss the different ways Rival IQ can help your social media campaign and how it works. So follow!
What is Rival IQ?Rival IQ is a social media analytics tool that provides competitive insights to help digital marketers make informed decisions. With its competitive benchmarking option, you will be able to improve your results and better understand competitors. Rival IQ is designed to enable marketers to find new opportunities and track their performance across all major social platforms and across the web. Rival IQ is easy to use and you don’t need to be a data scientist to use it to beat the competition with its powerful analytics. The tool also allows you to have personalized reports and to define alerts to follow in real time what is happening in your sector.
Rival IQ’s Landscape tab lets you analyze one set of businesses at a timeRival IQ organizes the businesses you analyze together into a landscape. Thus, a landscape may contain competing companies or influencers that you want to track for competitive or benchmarking purposes.
Creating a landscapeTo create a landscape, you will go to the drop-down menu and select “Create a new landscape…”. From then on, you will be able to add companies that you want to analyze together to a landscape. You can then customize each landscape you create by giving it a name and adding the business URL. When the company has a website, you can add its URL. Otherwise, just use the address of their social channel. Note that the first business you add to your landscape will be considered the primary target. Thus, the various reports will bear the name of this one and will be centered on it. To conduct analytics with Rival IQ, it is rather advisable to add at least three companies in addition to the target company, which guarantees you meaningful comparisons and landscape averages. When you add a business to a landscape, it is still possible to add it to other landscapes for analyses. However, your account will only be charged for the use of one company. That said, you can track a company’s presence in different geographies and create a landscape for each region without exhausting your credit.
Modifying the target company and deleting companies from a landscapeIt should be remembered that you can modify the target company when it turns out that you have made a mistake by simply clicking on “Modify the target company”. Similarly, it is possible to delete a business that you have added to a landscape. To do this, find the company among those added and click on edit, then click on the trash can icon under the name of the company.
Hide or unhide your channelsThere may be times when you don’t want to include certain channels in your reports. In this case, you just have to activate or deactivate the bell under the channel you want to exclude. However, Rival IQ does not stop collecting the data for this channel in question despite it being hidden.
Some tips for using landscapesTo make using landscapes easier for you, it is recommended to build them as follows: By competitor: Add at least 3 competitors when your goal is to analyze the competition. When adding lots of competitors, consider using business filters for additional control over your landscape. By Division: For businesses with multiple social accounts or multiple divisions, try using a landscape to track all divisional social pages in one place. This will allow you to see how your divisions behave in general. By country: Companies with subsidiaries in several countries can configure the landscapes separately for each country in order to compare them later. For influencers or ambassadors: If you are working with influencers to promote your offerings, you need to create a landscape for your brand ambassadors.
Connecting your dataRival IQ also processes data from other tools like Facebook Insights/Ads, Google Analytics, etc. Indeed, it offers a “Connected Accounts” section which displays all the social media accounts that it is possible to add to Rival IQ. The benefit of adding other data sources is that it allows you to access deeper metrics for your campaigns, including ads, reach, and impressions. Connecting accounts with Rival IQ is very simple and you only need to connect your profile to the tool. For example, for a Facebook page, log into your ad account and access it through Rival IQ. Facebook and Instagram then notify you about 10 different items that require access. Grant Rival IQ permission to access each of these and you’re good to go.
Adding a member to your Rival IQ account Rival IQallows you to work as a team and each person on your team can have their own account. The advantage is that everyone will be able to define their personal preferences for alerts and scheduled exports. To add a member of your team to Rival IQ, click “Invite User” on the Team page. The interested party will receive an invitation by email and can confirm their account by defining a password. In general, you can assign two roles to someone you add to your team: Owner : This is a single member who will have full administrative access and can make all changes to the account, even regarding payment changes . Full : This can be one or more team members who can make changes to the account, including adding businesses and landscapes. However, they will not be able to make changes to the account plan. Note that you can make a number of updates about your team members. It can be a question of changing his e-mail address or outright deleting his password.
Customizing your reports and alertsYou can define the reports and alerts you want to receive by email. When reports are for an external client, you can add a custom logo for more professionalism. As for alerts, Rival IQ notifies you once a day for each landscape you have created. The alert can contain notable activity from your competitors, such as engagement growth, breaking posts, and social bio changes. Each week, you will also receive an email detailing your social report and your mentions on Twitter. In short, Rival IQ is a tool that can provide you with a complete real-time view of the perception of your brand on social media as well as that of the competition.
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Company : Competitive Analysis
Rival IQ was founded in 2012 by John Clark. Two years ago, this company joined NetBase Quid, a global leader in consumer intelligence and social and market listening. The Rival IQ tool of the same name as the company enables on-demand, powerful competitive analysis of social media and offers alerts as well as detailed and personalized reports. Several companies around the world are assisted by Rival IQ to make smarter decisions in the field of social media. Companies using Rival IQ’s services can strengthen their social strategy through powerful tools that facilitate:
- competitive analysis;
- analyzes of social publications;
- Social reports ;
- social media reviews…