6 Simple Tips To Analyze Your Social Media Competitors
It’s important to know what other organisations in your market are doing on social media, to give you context for the current role social plays in customer communication. The aim of competitor analysis is to learn from the state of play and identify strategic opportunities.
Check this simple tips to analyze your social media competitors:
1- Find Your Competitors
identify your social media competition and find which platforms they use
You want to focus on the competitors that use social media marketing to their advantage, not just the ones that are successful.
Even though most businesses can benefit from social media, there are many that succeed without it. So keep that in mind when you’re looking for competitors.
2- Gather Data
The process will be slightly different depending on which platforms you target. First, you want to get a picture of their audience size. Start by gathering up their follower counts for each social network.
You need to know Audience growth, Engagement see how many likes and comments your competitors are getting on their content.
Find your competitor’s most frequency used hashtags and top posts.
3- Analyze Competitors’ Activity
You need to look at how your competitors use each platform. This requires a manual review.
The first thing you want to look at is how active is the competition. Here are some questions to ask yourself:
- When was last time they posted?
- Are there long spans of time between each post?
- Do they respond to comments?
look at the type of content your competitors publish
4-Analyze Their Website Content
Looking through their blogs will give you ideas for the type of content that might resonate with your audience.
This step is optional for most industries. However, if you’re in an industry where blogging is extremely popular, then you’ll probably want to follow this step.
5- Using the Data
It’s important to keep in mind that this social media competitive analysis isn’t for you to copy exactly what everyone is doing. Instead, it will guide you toward getting started on the right foot.
For example, maybe your analysis shows most of the competition only publishes promotional posts 10% of the time. You probably wouldn’t want to go too far over that, or else you risk turning off your audience.
6- Conduct a SWOT Analysis
The SWOT Analysis (Strengths, Weaknesses, Opportunities & Threats) is the starting point of any successful business strategy and any social media strategy.
To know strengths to look for what do your competitors do well on Social Media? Do they have poor grammar and spelling? Opportunities to that may be present Threats that competitors may present.