How can I keep my hanging flower baskets looking great all summer ?

You should be repotting every 2 or 3 years .

They need more water than you are giving them. Baskets dry out quickly, you may need to water every day.

When purchased, I replace that fluffy light crap with regular potting soil. It holds the water much better and longer.

I simply wrap up the hanging flowers ( making a cone out of newspaper- to minimize damage) tip upside down, release the plant from the pot, and gently remove as much of the lite crap. Fill the bottom of the pot with new soil, place plant back in, and fill in the sides with the new soil.

What flowers are you trying to grow - sun worshipers or ones that like shade? Do they like a lot of or a little bit of water? I don't have a green thumb but keep my Boston fern on a location where it only gets the early morning sun and shade the rest of the day. I always said my mother could make "dog do" grow, but I was at the end of the line when the ability to grow flowers was handed out. Have better luck with plants.

Yes they need more water, depending on where you live and where you have them hanging you may also need to turn pots around. If you live in an extremely hot place check to see if they need to be watered twice a day or at least during a very hot week. And feed plants . This will increase size of plant and may help to keep water from evaporating. Just remember to water very early and not to get it on plant just on dirt otherwise it will burn in the sun and heat.

What soil are you using?

I have had the same problem with hanging plants where the soil literally turns to dust,, it was time to change out the soil. One thing I did was line the bottom of the basket with coir and a new baby diaper absorbent side up, it hold the water in for the roots. This was easier than frequent watering and we could go on short vacations.