Steps for creating Social Media Competitor Analysis

steps for creating social media competitor analysis

Social media competitor analysis determines how likely it is that your social media marketing campaigns will be effective. It is the most accurate way to determine how much attention your competitors get from their social media efforts. Social media advertising platforms like Facebook, LinkedIn, Twitter, and Instagram can give businesses an idea of how well a competitor’s campaign is doing. 

For example, if you notice a competitor’s video on Facebook or a tweet that gets likes, you know that their campaign is working.

This type of analytics can help businesses determine what kind of social media marketing campaigns are popular among their competitors. Are they advertising on LinkedIn every day or just once a week? This information can determine what campaign strategy will achieve the best results. It is also possible for a business to build its own social media marketing campaign by including aspects of competitors’ successful strategies.

Why is it necessary to do a Competitive Analysis? 

Social media marketing is a competitive industry. Every company is trying to get as much attention as possible from their campaign. Doing a competitive analysis offers your organisation the opportunity to find out missed opportunities and areas of improvement. In the wake of this, we have come up with the following factors to consider when doing competitive analysis for your social media marketing campaigns: 

How to do a social media Competitive Analysis Step by Step 

Analysing how well your competitors are doing in social media is much easier than it may seem. Below is a step-by-step guide to help you get started.

Step One: Identify Your Competitors

The first thing that you need to do is start looking at your competitors. Remember that social media marketing is highly competitive. There are thousands of other businesses on Facebook, LinkedIn, and Twitter. You need to narrow down the list of possible competitors to those who have spent large amounts of money on social media advertising and those receiving a lot of attention.

Step Two: Find Out How Your Competitors Are Doing

So once you have found the businesses that meet all the criteria above, you need to find out how they are doing with their social media marketing. It can be done by doing some research. For example, if you notice a particular business’ video on Facebook, go to that business’ profile and check out the video. If it’s getting a lot of likes, then there is a high chance that the movie is working for them. The same thing goes for posts, tweets, and other content.

Step Three: Get Your Own Results

After you have found an effective marketing campaign, you can use it to help create your campaign. It means that you won’t need to spend as much money on social media advertising because you will be able to produce the results for a much lower price.

Step Four: Compare Your Results

Social media marketing is about being social and communicating with others. Getting instant results is essential, but that does not mean that you should get it at the expense of your reputation. The best companies understand this and take their time to analyse their competitors’ success before evaluating their strategies. By doing this, companies can save money and get better results in a shorter amount of time.

Step Five: Start the Campaign

After you have learned the secrets to your competitors’ success, it is time to go out and do it yourself. It doesn’t require a lot of money because you already know how to create a successful campaign. Just follow the steps above, and you will be in good shape. 

Many different keywords can help you determine what people are searching for when they visit your social media website. You can find different keyword research tools to help you identify the most popular keywords in your industry.

Social media Competitive Analysis Tools

There are many social media competitive analysis tools available. Some of them are free, and some of them have a cost. You should choose the one that best suits your needs and the price you can afford.

1. Synapview

Synapview is a free tool that features a competitive analysis for Facebook, Twitter, and LinkedIn. It can be used to find out which strategies are most effective for your business and then analyse the results of each. You can also see a list of suggestions for what you could do in the future to improve your social media marketing campaign. It will help you find ways to increase engagement and sales on your professional network.

2. Brandwatch

Brandwatch is a paid tool for Twitter, Facebook, and LinkedIn. It can be used to analyse brand mentions and determine which keywords are being used in the responses. It can also look at your competitors’ brand mentions and find out what you should probably stop doing to increase sales.

3. BuzzSumo

BuzzSumo is a paid tool that features a competitive social media analysis on Facebook, Twitter, and other social media tools. It can get the best results from a campaign by analysing which types of posts are most successful. It can also be used to determine how well your competitors are doing on social media. It will allow you to see how you can get better social media marketing results.

4. Crowdbooster

Crowdbooster is a paid tool for Facebook and Twitter that is highly customisable to meet your needs. It can be used to track the number of likes and comments for each campaign, but it can also analyse the comments, tweets, and shares for each social media post. You can find out which content is the most engaging and what you should do to get more likes, shares, and comments.

5. CMI

CMI offers a free analysis tool that features a competitive analysis on Facebook, Twitter, LinkedIn, and YouTube. It can be used to determine who is most popular on social media and what that means for your business. It does this by letting you analyse your pages and posts and those of your competitors.

6. DataSift

DataSift features a paid tool that provides information about posts, conversations, and media on social media. It can monitor content and find out which types of media and posts are most popular with your audience. It will help you use the most effective social media strategies for your business.

7. Talkwalker

Talkwalker is a paid tool that features a social media competitive analysis that can be used to find out how your competitors are doing and how they are engaging with their audience. It helps you analyse how you should be doing your social media marketing to get the best results. The price tag is relatively high compared to the others, but it comes with many other features for an even better price.

Final Words

It is essential to use social media competitive analysis to determine what your competition is doing and how well they are doing it.  

If you are looking for more information on social media competitive analysis, there are many guides that you can read. 

But nothing can beat the importance of getting professional help. With the end-to-end solutions of Expand My Business, not only do we focus on delivering social media marketing services but also on providing consultancy services. 

Our solutions are centred on creating an overall impact for businesses. Stating this, we at Expand My Business follow a systematic approach to catering to the service requirement of any project. By getting in touch with our consultants, you can get the much needed professional expertise in assorting your business needs along with the complete delivery of solutions. This way, you can get the best results from your social media marketing campaign and save time and money.

Steps for creating Social Media Competitor Analysis

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