competitors

How to: Set up Custom Dashboards for Competitor Analysis

Yesterday, I discussed setting up custom Dashboards for PR and Campaign tracking. In case you missed it, here’s a bit more information about why Dashboards are so important:

Within Brandwatch, Dashboards are the magic that turn data into insights. It’s with Dashboards that you can slice and dice your data, and get the real meaning from the numbers.

When you write a Query, you then create a Dashboard. You can choose a default Dashboard, which has some tabs already set up to show you the key insights such as a Summary, the top sites, authors, topics and mentions. There are also Channel-specific default Dashboards for Channels. You can then add to and customise these as you wish

Plus, now with our recent launch of the ‘new’ Brandwatch, you can also open a completely blank Dashboard, ready for you to start from scratch if you prefer – one for the power users among you

We’ve also recently added the ability to save your customised Dashboards as a template. You can then upload these as new Dashboards, and change them to any Query. This means if you make a really great template, you can then share it with colleagues or other teams, and they could use the same set up for their own Queries.

You can also duplicate dashboards directly in the app, if you want to copy them to the same project.

So, why might you set up custom Dashboards?

Well, the default Dashboard is great for getting some quick insights into your data. However, if you want to really dive deep into the data, or you have a specific use case, you’ll probably find that a custom Dashboard better suits your needs.

Yesterday I wrote about setting up Dashboards for PR and campaign tracking. Today, I’m talking about competitor tracking.

Competitor Analysis

When considering your social media data, it’s very difficult to know what the numbers mean without any context. Tracking your competitors lets you keep on top of your industry, monitor your share of voice, and compare how your brand is performing in comparison to the others in your market.

Brandwatch allows you to create Groups, meaning that it’s easy to track and analyse multiple Queries. So, once you’ve set up a Query for your own brand, and one for each of your competitors, get started on a custom Dashboard that will let you compare them, for both day-to-day monitoring and monthly reporting.

We’ve set up an example here, using Coca-Cola as our primary brand and Pepsi and Mountain Dew as examples of competitors. In this example we’ve set up various different tabs, each showing us a different insight into our brand and our competitors.

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Share of voice: This allows me to see, in the last month, which of the brands had the largest share of voice between the three. If we were doing this for real, we’d probably want to add in more competitors to give a more complete picture of the online conversation about soft drinks. We can see that Coca-Cola has the largest share of voice this month.

We’ve got this displayed as a pie chart, but also by day in the bar chart below:

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We could extend the date range shown on this chart if we wanted to see how share of voice has changed over time. This is particularly useful for measuring whether your marketing efforts are being successful in encouraging more discussion of your brand.

Sentiment: We can then look into the sentiment of each of the brands to attain whether that conversation is good or bad. We can see that Pepsi has a larger percentage of positive conversation, though the sentiment between the three brands is pretty similar.

As with all charts in Brandwatch, we could then click into each of these segments and view the conversation within each sentiment to reveal what the positive and negative thoughts were.

ct3Page Type: Next, we’re looking at what types of sites the brands are discussed on. If a competitor is often discussed on a particular type of site, and your brand isn’t, it might be worth looking into that conversation and seeing if you can get involved, to build your presence. For example, we can see that Mountain Dew enjoys a lot more chatter on Facebook than the other two brands.

For all three brands, forum conversation is relatively rare, so this exposes a possible area on which to focus communications strategies.

ct4Top Sites: We can also look at specific sites by using the Top Sites for Groups component. This shows us the sites where the three brands are discussed most, and breaks down the share of voice of each brand on that site.

We can also use the Top Sites component to see a full list of the top sites for each brand. ct6Influencers: Using the Authors component, we can take a look at the top influencers discussing each of the brands, order by the Brandwatch Impact score. This can reveal opportunities for brands to engage with their own influencers, as well as the possibility of reaching out to influencers discussing competitors.

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Topics: By creating a Topics cloud for each of the brands, we can explore the main topics that are discussed in relation to each brand. This might reveal specific trends in conversation, or reveal that a particular marketing campaign is doing well.

Understanding the topics within competitor conversation can give a greater understanding of what is resonating with the target audience, and allow brands to capitalise on any emerging trends.

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Facebook Analytics: Using our Channels feature, we can track each of the brand and competitor Facebook pages. We can then compare them side-by-side using the Facebook Analytics component, so we can understand how our page is performing in comparison to competitors.

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The component gives us some headline figures for our selected date range, and also a set of useful charts showing those figures over time. Other Channels components allow us to monitor the most impactful posts and fans for each brand. We can also set up the same for Twitter Channels, which is currently in beta but will be launched later this year.

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Twitter Gender: Lastly, we’ve set up a chart showing our latest addition to the platform, Twitter gender. This breaks down our Twitter audience – those discussing each of the brands on Twitter – by gender, revealing that Mountain Dew has a more male audience than the other two brands. This might inform future marketing campaigns or our approach to Twitter strategies.

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Hopefully this has give you a few ideas for setting up your own competitor analysis Dashboards. The possibilities are only as restricted as your imagination.

There are plenty of other components we could set up – for example, we could use categories and the Date Range Comparison component to compare how campaigns from each brand performed, side-by-side. Or we could set Rules and Alerts to inform us of competitor conversations that we can get involved with.

As I say, there are many, many ways of setting up your Dashboards. The best thing is to think about what you want to achieve; what insights you want to find out, and then play with the various components to set up what you need. You might find some new things you never knew were possible.

For more ideas, help and information about setting up custom Dashboards, then feel free to visit the Support Portal or speak to your Account Manager.

If you’re not a client, and want to be able to set up amazing, flexible Dashboards like this, then just get in touch. We’d be happy to show you what we can do.