Once upon a time social media was just for people who wanted to catch up with college chums or trade pictures of their lunch. Now it’s a treasure trove of opportunity for brands who want to connect and engage with customers. Today 77 percent of Fortune 500 companies manage at least one Twitter account and 70 percent are on Facebook. A whopping 93 percent of marketers turn to social media to enhance their marketing strategies.

2. Once upon a time social media was just for people who wanted to catch up
with college chums or trade pictures of their lunch. Now it’s a treasure trove
of opportunity for brands who want to connect and engage with customers.
Today 77 percent of Fortune 500 companies manage at least one Twitter
account and 70 percent are on Facebook. A whopping 93 percent of
marketers turn to social media to enhance their marketing strategies.
If your brand is on social media, chances are your competition is too. Don’t
worry, though, there’s plenty of room for everyone on social networks. The
old adage, “if you can’t beat ‘em, join ‘em.” is good advice but who says you
can’t do both? Here are some tips to managing your competition across
social channels.

4. Image Credit: Lars Plougmann

7. The most successful brands on social media know that the key to making the
best of your competitors’ presence is to form a good policy about how,
when, and if to engage them.
Image: joiseyshowaa
After all, you’re all in the same boat so you might as well make the best of it.