Social media has become a new battleground for brands in the digital age.
Their goal is to establish a meaningful relationship with their audience through an effective social media marketing strategy.
Nevertheless, some brands thrive while others struggle.
Start with a social media competition analysis to understand why your contenders are gaining ground and where you should position yourself to achieve your social media objectives.
What is a social media competition analysis?
Social media competitive analysis is the practice of analyzing the social media activity of your opponents to identify their strengths and drawbacks and how you compare against them.
You can gain insight into your target audience and learn what they enjoy or don’t like by examining and analyzing the social media strategy of your competition and what are social media strategy plans.
A social media competition analysis will also assist you in determining:
- Who are your social media competitors
- Their social media platforms of choice are
- How they craft content for their social networks
- The level of interaction their content receives
- How do your social media marketing initiatives compare to those of your rivals
- Marketing gaps in your social media strategy
- Social media dangers that could harm your brand
Unravel Your Competitors’ Social Media Strategy
Each social media platform (Instagram, Facebook, and Twitter, for example), has a unique audience, and people interact with each other differently. So if you want to use social media to your advantage, you’ve got to understand what your competitors are doing to grab engagement on the platforms and figure out how you can do things better. There are many social media analytics tools for you to do an effective social media competitive analysis.
To get a sense of what this looks like, you’ll want to focus on the following metrics:
Follower growth on primary social channels
Monitoring the daily change in social media followers and fans across various social media platforms gives you first-hand insight into the reach of your competitors.
You can gauge your audience reach by the total number of fans they have.
The sudden increase or decrease in the number of fans shows their recent social media posts’ impact on the audience.
Constant reach to fans will help your brand grow for years.
Identify the optimum times for your competitors to post.
You can use Vaizle to check the prime time for social media posts. Check out the time your competitors post on social media and how much engagement they get on their posts.
There is no doubt that your target audience (or an extremely similar one) is the same as your competitors. You can check the content calendar for each social media channel separately. All this information is effectively turned into easy-to-read graphs and detailed insights to simplify things.
Using this, you can post on each leading social media platform to generate high engagement.
You may evaluate their post timings in Vaizle as you would for your social media content.
Using Vaizle’s Smart Insights feature, you can create a dataset of a number of competitors simultaneously, allowing you to develop more credible industry benchmarks and gain a broader perspective on the industry.
Identify Activity Content Division by your competitors
If you want to know what content your competitors are posting, look at the Activity Content Divison graph on Vaizle for one-glance information.
Also, to know how much engagement your competitors are getting on each post type, track engagement by post type through ‘Engagement Content Division’ using Vaizle, as shown in the image below:
Get easy insights to identify which types of content, Photo, GIF, Video, or Text, earn the most likes and shares, platform-wise.
Look into Trend Analysis to keep yourself updated with the most current trends
To stay competitive, brands must communicate appropriately and effectively with their audiences. The key to reaching the masses is to hop on the trends in the industry.
Vaizle Trend Analysis helps you see the top trending keywords and hashtags and lets you unravel competitors’ communication and social media strategies.
You get in-depth data on how your competitors use keywords and hashtags and how successful their social media campaigns are.
For example, Clinique wants to track L’Oréal Paris’s brand activity, choice of social media platform, and messaging on social media around “Cannes 2022”. L’Oréal Paris’ top performing posts and brand activity around “#Cannes2022” will be displayed using Vaizle trend analysis.
They make smart, data-driven decisions based on their performance rather than simply working on speculation.
Benchmark your engagement rate against your competitors
High-performing content is the one that gathers the most engagement rate. With Vaizle, you can analyze the engagement rate of your competitors with just a few clicks. Not only that, but you can also have a beautifully calculated engagement rate for your own social media posts.
Benchmarking against your competitors helps you cut through the noise by making content people want to engage with.
Top Hashtags and Hashtag usage
Planning and executing an effective social media campaign requires an understanding of hashtags. You can effectively increase reach and engagement by including hashtags in your social media posts.
Find out which hashtags your competitors use most and which generate the most engagement. Then, identify which channels see the most engagement with the hashtag.
Find out what hashtags are trending on the top channels. Using Vaizle, you can access real-time cross-channel data from Facebook, Twitter, and Instagram.
Better Social Media Starts Here
When used correctly, social media can be very powerful. If you don’t want to improve your social content on your own, contact us today for a free demo. Our social media competitor analysis tool, Vaizle, can help you stand out on social and continue outpacing your competition for years to come.
You’ll be better positioned to make a better social media strategy knowing the competitive environment if you take a proactive approach to understand your market and competition. In addition, you can better plan your social media marketing strategy if you are aware of your competitors’ recent achievements and pursuits.