How to do a Social Media Competitive Analysis?

Connecting with friends and family to promoting businesses, social media platforms have proven to be a game-changer. But with the rise in popularity comes competition. How do you stay ahead of your competitors on social media? The answer lies in conducting a social media competitive analysis. In this blog post, we will walk you through the step-by-step process of analyzing your competitors on social media and how it can benefit your business. 

How Do You Analyse Competitors On Social Media Step By Step?

1. Identify Your Competitors
This involves researching businesses or individuals that have similar products, services, or target audiences as yours.

2. Analyze Their Social Media Presence
Once you've identified your competitors, the next step is to analyze their social media presence. Look at their profiles on different platforms such as Facebook, Twitter, Instagram and LinkedIn. 

3. Evaluate Their Engagement Rates
Engagement rates are an important metric in measuring the success of a social media account. Calculate engagement rates by dividing total engagements (likes, comments and shares) by total followers multiplied by 100%. Compare this with your own engagement rate to see how you stack up against your competition.

4. Monitor Their Hashtags
Hashtags can help increase visibility for posts on social media platforms such as Twitter and Instagram. Keep track of hashtags used by your competitors to get insights into what topics they are discussing and which ones are popular among their audience.

5. Track Their Followers' Demographics
Knowing who makes up your competitor's follower demographics can give you valuable insights into who you should be targeting with your own campaigns.


By following these steps, you'll gain a better understanding of what works well for others within your industry while also identifying opportunities for improvement within your own approach!

What Tools Do Competitors Use To Analyze?

In today's digital world, businesses are always looking for a competitive edge. One way to achieve this is through social media competitive analysis. But what tools do competitors use to analyze?

Firstly, there are various free and paid online tools available that can help businesses conduct a comprehensive social media analysis of their competitors. The most popular ones include SEMrush, Hootsuite Insights, Sprout Social, Google Analytics and BuzzSumo.

SEMrush is an all-in-one marketing toolkit designed for digital marketers who want to improve their SEO performance. It allows you to track your competitor’s keywords ranking positions and monitor changes in website traffic.

Hootsuite Insights provides real-time tracking of market trends by monitoring conversations on social media channels such as Facebook, Twitter and Instagram. It also allows you to measure your brand's share of voice against your competitors'.

Sprout Social enables users to view detailed analytics reports on engagement rates across different platforms including Twitter, Instagram and LinkedIn.

Google Analytics is another powerful tool used by many companies for tracking web traffic sources from various channels like organic search or referral websites.

BuzzSumo helps identify the content that performs best with audiences while also providing insights into how well it resonates within specific industries or markets.

All these tools have unique features that make them valuable resources for social media competitive analysis enabling businesses to understand better what their rivals are doing right -and wrong- when it comes down to building a solid brand reputation on the internet

Competitor Analysis Offers Three Possible Advantages

A social media competitive analysis can provide valuable insights for businesses that want to stay ahead of their competitors. Here are three possible benefits of conducting a competitor analysis:

1. Identifying strengths and weaknesses: A competitor analysis allows you to identify the strengths and weaknesses of your competitors' social media strategies, which can help you find opportunities to improve your own strategy. For example, if your main competitor has many followers on Instagram but doesn't engage with them regularly, it might be an opportunity for you to build relationships with those followers.

2. Understanding audience engagement: By analyzing what kind of content is working well for your competitors, you can get a better understanding of what engages their audience and use these insights to create more effective content yourself. You may also discover new platforms or channels where potential customers are engaging with brands similar to yours.

3. Staying up-to-date on industry trends: Competitor analyses allow companies to stay up-to-date on industry trends as they observe how others in the same market niche adapt over time.

Performing a thorough social media competitive analysis will enable businesses not only understand their competition but also develop strategies that surpass them while maintaining customer loyalty through improved tactics and enhanced user experience that outperforms rivals over time.