Social media competitive analysis is the constant monitoring and analyzing the moves of your competition on social media in order to produce better marketing strategies.
Tracking competitors’ social media pages allow gaining valuable insights to help move your brand forward. It is a great way to see what your competitors are doing and how they engage with their own audience. It also allows you to understand what’s working and not working for them.
With the help of social media monitoring tools, you easily identify influencers and brand advocates who truly move the engagement needle. On top of that, monitoring interactions and conversations with your competitors’ customers can provide valuable instances of ways to include them in your marketing efforts.
What aspects should be covered?
- Community size
- Tone and Personality
- Customer Service
- Content Strategy
Benefits of social media monitoring
- evaluate your competitors’ position in the social media market
- identify the key influencers who are advocating your industry
- measure the success and achievements of your competitors
- find opportunity areas where your competitors are lagging
- generate leads from unhappy customers
- monitor what’s going on in your industry
How to track social media pages
It’s all about creating great customer experiences with social media. But for most organizations, social is more than just a single channel to promote. This is why you see so many use their Twitter account as the official network or support while making use of Facebook as their customer engagement platform and blogs to provide useful knowledge and updates.
Competitors App monitors both Facebook and Twitter as well as tracks updates to blog posts letting you get complete insights into competitors’ social activity. When the monitored resource is first connected it will pull all the posts including the engagement counts – likes, tweets, shares, etc. Based on the set alert frequency user will be alerted on all the posts in monitored social media along with the engagement rates. This allows staying up-to-date with all competitors’ activity and their viral campaigns.
Social Media Use Cases
Stay organized with social campaigns
An essential benefit of competitors’ social media monitoring is the ability to organize campaigns.
When incoming messages related to an important campaign come in, you need to be able to respond or engage in a timely manner.
Start by setting up a minimum engagement rate and tracking criteria associated with a specific campaign.
For competitors who receive a large volume of incoming messages for people sharing content and everything in between the ability to organize content is a huge time saver. Not only that, but it also guarantees that important updates don’t get overlooked.
Track visuals your competitors use
Use Competitors App to get insights into the visuals your competitors use to attract their audience. You may find that some competitors use different images for specific networks, while others have a consistent brand across all networks. Note whether or not they use people in their photos, or graphics instead of photos. Either way, you should find some great inspiration for your own business’s visual content.
Monitor competitors’ social activity
If you’re wondering how active you should be on specific social networks, Competitors App tool can come in handy for this as you don’t necessarily want to count the number of updates your competitors’ post. You should also take a peek at the engagement your competitors receive on each social network. Analyze the number of posts and engagement to see where competitors post and receive the most (or least) audience response.
Get insights on the type of content you should post
Get inspiration for the type of posts you should publish on each social network by analyzing competitors’ top content specific to that platform. This analysis can help determine whether you should post photos or videos, when you should post them, and the type of captions you should include with the posts for best engagement opportunities.
Tips on tracking the key insights from competitors’ social media strategy
1. Which networks do competitors use?
When pursuing a social media strategy, you have to decide which social network or networks to use. This is a question that can best be answered by your competitors. To remove the element of “social media overwhelm,” start with a network that is proven best for your industry. Once you have built a solid strategy there, move on to the next social network. By that point, you will be a natural at the first network and able to utilize that audience to build the next.
2. How do your competitors position themselves?
Do you have trouble coming up with a great bio for your social profiles or elevator pitches for your business? Find out how your competitors position themselves on social media and their bios will give you an idea of how you can position yourself on each network in order to be attractive to your target audiences.
3. What trends do competitors talk about?
If you’re not monitoring your competitor’s latest social media and blog content, you may miss out on major industry news. Let Competitors App keep close tabs on Facebook and Twitter accounts of your competitors as well as their blog posts for you.
4. What do people say about competitors?
Knowing what people say about your competitors can give you a feel for the type of engagement you will receive through social media. You may be able to identify a few ways you can tailor your products and services to fill in areas your competitors products and services miss. Overall, it should prepare you for the type of conversations you may run into for your business on social media and give you ideas for how to handle them.
5. What groups do competitors join?
Once you find groups to join, you can watch your competitor’s activity in those groups. You will likely gain value from these groups, and make sure your business is equally represented when related comments and questions come up.
Monitoring competitors’ social activity will help you to avoid starting your social campaigns from scratch. You can always rely on examples from your industry to get the inspiration you need to create a successful social media campaign for your business. As you now understand the strong and weak areas of your competitors’ products it’s time now for you to be different or be better than your competitors. Do not waste time on strategies that are not working. You have to observe, listen, learn and improve.