Why and how would you carry out a Social Media Competitor Analysis?

POSTED BY   tdmbadmin
4th July 2013
Why and how would you carry out a Social Media Competitor Analysis?

We get involved with a lot of analysis of social media accounts and information can be found under Social Media Monitoring. Clients sometimes want this sort of feedback to know they are posting the right things, have good levels of engagement and generally the reports give them a better insight into the Social Marketing Strategy – these reports can get very detailed on your own social accounts providing invaluable feedback. Other times we try to educate in different ways – some business owners or marketing departments like to look at their competitors and really see what they are doing (or not as often the case maybe).

Often people are surprised that you can do this and even more surprised at the level of detail we can go into. Overall it is a very interesting exercise.

Lets look at why you may want to carry out a social media competitor analysis:

  • You are just starting out and want to do carry out an industry appraisal of what is going on out there
  • A competitor is running a campaign and you may want to see if they are getting much traction in the social media environment
  • On a day by management level, you may want to see what your competitors are posting, when they are posting and what levels of success and engagement you are getting

These are three classic reasons for a social media competitor analysis so now lets look at some of the reports you can get out;

On each of these thumbnails just click on them to see them the graphs in more detail – fascinating figures here. We have blanked out the names of companies here for obvious reasons.

A lot of our clients like to benchmark their own accounts against their competitors. Figures then get even more interesting when you can actually see how you are doing – a great management report for business owners keen to see what is really going on.

The scope of data here is massive and I am sure we could help you should you want to discuss this any further. At the end of the day, knowing what is being posted and to see what is actually driving results, for you and your competitors, makes you far more informed and able to make the right decisions moving forward.

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tdmbadmin

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