A complete guide to better social media competitor analysis

Social media is a big and essential part of digital marketing. It is convenient to track your competitors’ moves and understand the faults in your marketing strategy. When a business chooses online marketing packages in the UK, they ensure that it includes a robust social media plan.

Here is discussed the reason for social media competitor analysis and the many ways to do it correctly. So, keep reading further to unfold the unknown facts about social media competitor analysis.

Why is social media competitor analysis important?

Check out the reasons for social media competitor analysis and how it helps enhance your overall marketing strategies. 

Build a better marketing plan

Social media competitor analysis is equally pivotal as website and market analysis. Social media becomes a better mirror that reflects the reason why your competitors are doing better. In addition, you will get better intel on how they attract and engage their audience. Thus, it allows you to create a better marketing strategy. 

Identify your clients better

Marketing packages include social media competitor analysis that helps you understand your audience more clearly. It enables you to understand how your competitor’s audience is responding to their content, the pain point and many more. So, overall you get an in-depth insight into your ideal client’s persona.

Improve your social strategy

As you know that social media is an optimum weapon to target a big portion of your audience. In the present-day scenario where people spend more time scrolling social media feeds, they have very less time to read blogs and articles to explore your brand. Thus, with a better understanding of your competitor’s social media performance, you can improve your social media strategy to invite traffic to your website.

Enhance your content relevance

You may be using a crucial platform like social media in the wrong way if you create the wrong type of content. So, regardless of how great your website or blog posts are, you will not be able to create the type of content your customer may like. Therefore, social media competitor analysis helps you to explore your competitors’ content to creating relevant content.

How can you analyse your competitor on social media?

When a business finds the best online marketing packages in the UK that have a strong social media strategy, here are ways to analyse social media competitors. 

Step 1: Identify your competitors

Find out who ranks for your targeted keywords

When you have a specific service or product, use the name as a keyword and go to the search panel. By searching the keyword, you can find some pages ranking for those keywords.

Check profiles that appear in your keyword research

When you take your social media keyword research further, you can find a bunch of related and long-tail keywords. You will also notice, apart from the profiles that rank for your primary keyword, there are several other profiles that rank for different related keywords.

Discover the brands that your audience follows

You can also take time to meticulously go through your followers' individual following lists. Thus, you will be able to find out more profiles related to your niche. Remember not all of them are your competitors. If you are just starting, a profile with millions of followers cannot be your competitor.

Step 2: Gather perspicacity

Check out their followers' type

Now that you have your competitors sorted, go through their follower lists to understand what type of audience you must target.

Which platform they are using the most

Make sure you research the other social media platforms that your competitors’ followers are using and tally between them to know the most used platform. Thus, you will know where you must focus the most.

Which type of content they are focusing on

Track the kind of content your competitors are posting and how frequently. Content marketing packages pricings are now getting low to afford if you want experts to implement your social media content marketing plans.

Gather their hashtags

A great way to utilise social media platforms to gather our competitors’ hashtags to optimise your posts for ranking.

Step 3: Analysis of your strengths and weaknesses

Strength

Now that you gathered data from your competitors, it is time to utilise it in your support. Make a list of those metrics for which you are performing better than your competitors.

Weakness

Then list metrics that left your performance behind your competitors. For instance, you may have more Instagram followers than your competitors but less conversion. 

Opportunity

Now that you are clear about your strengths and weaknesses, you know where you stand in comparison to your competitors. So, it is time to find out the room for improvement in your social media strategy.

Threat

There are always threats with opportunities. You must understand them and keep your plan prepared to tackle them. Online marketing packages in the UK with a strong social media plan can help you with such a plan. 

Top social media competitor analysis tools

Here are the top 5 social media competitor analysis tools to assist you.

1. SocialMention

2. Sprout Social

3. Socialbakers

4. BigSpy

5. BuzzSumo

Final takeaway

Competitive analysis is simply analysing the other players in your industry who sell or create similar products and services. Doing so unveils your strengths, weaknesses and areas of improvement in your marketing strategy. 

Now, when it comes to social media, tracking your competitor and discovering your strategies are easier than analysing their website or others. So, you must find online marketing packages in the UK that include witty social media competitor analysis processes.