The TL;DR: February 26, 2018
This week we're talking about copying competitors, Snapchat updates and influencer marketing.
Why Copying Your Competitors Hurts Your Content Strategy
Looking at your competition is common in marketing and while sometimes it seems like a good idea to take inspiration from their strategy, there are several reasons this isn’t the case. Find out why below. You can read the full article here.
- They’re just as clueless as you are: You don’t know all the factors that went into their strategy. Often, especially in a space that changes as quickly as social, no one really knows what works all the time. Your competitors might be experimenting just as much as you are.
- You don’t know what’s actually working: While you can see outward indicators of success you have no way of knowing how much spend they’re putting behind something or what content is actually giving them the best ROI. You don’t have access to their data, so the real story might be a lot different than the way it appears by looking at their pages.
- You have different resources: There’s no way of knowing the research, budgets, manpower, and tools they’re using to run that content strategy. It’s better to create one that works for your brand with your resources.
- Your business might require a different strategy: While you and a competitor may have similar products, audience behaviors might be vastly different. What on the surface might seem one-size-fits-all likely actually isn’t.
Snapchat Adds Features to Try and Combat Negative Feelings About Update
In the wake of a particularly disastrous update, Snapchat has added several new features (some inspired by Instagram) to try and keep users on the platform. You can read the full article here.
- Gif Stickers: Likely inspired by Instagram’s recent addiction of gif stickers, Snapchat has enacted the tool as well. It will likely see popularity there too.
- Text Styles: Another feature likely inspired by Instagram – Snapchat users can now play with text styles more than they used to be able to.
- Tabs: Perhaps in a bid to ease the transition to the new Snapchat, the platform will soon be releasing tabs in the “Friends” and “Discover” sections, making it easier for a user to navigate and find the content they want.