In this post, we look at competitive analytics for social media. Our last article featuring Social Insider content was very popular. Promote Brands with LinkedIn Stories. In addition, take a look at Data Generated Online in 2020.
Ten Steps for Competitive Analytics for Social Media
Social Insider provides excellent information on competitive analytics. Including 10 steps to complete. As reports:
Competitive analysis offers a way to spy on your competitors’ activity and results. In order to understand what their strengths are and how you stack up. With the help of analytics tools, you’ll get data on competitor organic posts, ads, or stories. With competitor analysis, marketers gain the opportunity to not only look outwards, to understand the competition’s strong suits. But also inwards, towards your own brand.
Through the analysis of competitor social strategies, you can find out more insights on your common audiences. While understanding what performance metrics you need to improve. It will answer some of these main questions:
- Is my social media effort good enough?
- Am I better than my competitors on social media?
- Could I be getting better results?
- Have I identified all of my potential audiences?
- What else could I be doing?
So it all sounds great in theory, and you already have your analysis tools in hand. But where do you start? Don’t worry, we’ve got you covered. We’ve made a short to-do list to guide you along the way. All you need to do is follow these 10 steps and tick them off as your analysis advances.
To learn each step, click on the links:
- 1: Identify your top competitors
- 2: Define the competitive goals and KPIs
- 3: Choose the social networks you want to monitor
- 4: Follow how performance on social networks grows over time
- 5: Check out their content strategy
- 6: Check out their engagement metrics
- 7: Understand how people engage with their content
- 8: Understand their paid media campaigns
- 9: See when people are active on the social networks
- 10: Use proper tools for social media competitive analysis