Monitoring social media for mentions of competitors and their products can provide a wealth of useful information. You can gain insight into customer sentiment, discover which social media channels are most effective, evaluate social media post success and stay abreast of developments in competitive strategies. This can be done manually (by following competitive activity on individual social channels) or you can consolidate your efforts with a tool.
The same tools you might use to manage your own organization’s social activity can do double duty for competitive listening. These resources typically provide a “dashboard” from which you can view all of your social accounts. The options listed here offer a free version and/or have a fairly low starting price.
There are additional tools that capture mentions across the entire web (not just on social). Those are presented here as well.
This list is not meant to be exhaustive. If you have suggested additions, please submit them for consideration.
There are other tools that provide competitive listening along with search engine data in a larger suite. Those are not listed here. They will be explored in a future update.