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7 Questions to Ask Before Social Media Competitor Analysis

Shweta Sadana
Written By

Shweta Sadana

Published on

Brands that flourish on social media are fast to adapt and relentless in their quest for excellence. 

Smart organizations are constantly modifying social strategy in order to effectively express their narrative, connect with their audience, and remain on top of current social trends. 

If you’re looking for a surefire approach to continue pushing yourself to be better, look no further. 

Conduct a social media competitive study to keep an eye on your competitors.

Looking at your competition from the outside it may feel like you’re putting yourself at a disadvantage, but you’ll get objectivity and perspective by utilizing market research to learn about them. When you combine a systematic data collection strategy with competitive analysis, you’ve got a winning combination.

Consider the Bigger Picture

Because gathering competitor data takes time and effort, it’s critical to understand why you’re doing it and what you can accomplish. Your goal is to paint a more complete picture of the customer’s interaction with your competitors and to pinpoint the important factors that influence consumer behavior.

What do they like or dislike, why do they prefer one firm over another, and what other elements have a significant impact on the business?

While there are numerous approaches to conducting a competitor’s social media analysis, it is critical to have answers to a few key questions. When analyzing your competition on social media, here are 7 crucial questions to ask and answers.

  1. What are the benefits and threats of your market or industry?
  2. What platforms do my competitors use for social media? 
  3. What is the size of my competitor’s following? 
  4. What Is My Competitors’ Posting Frequency? 
  5. What is my competitor’s content? 
  6. What is the level of engagement among my competitors? 
  7. What are the most popular kinds of social media posts among my competitors?

Let’s discuss these 7 questions to ask before Social Media Competitor Analysis in detail:

1. What are the benefits and threats of your market or industry?

While a company’s strengths and shortcomings are internal, the opportunities and dangers it faces are external. 

Each company’s strengths and weaknesses will vary depending on the market or industry, but the possibilities and dangers will generally remain the same.

You should aim to capitalize on your strengths while using your competitors’ flaws to inform some of your company’s prospects. Competitors, on the other hand, would most likely try to exploit your flaws, which will inform some of your threats.

Beyond that, you should consider the bigger picture in which your company operates.

For instance, consider the following question: Are there any technological advancements that have occurred or may occur that create an opportunity for our business?

Are there any technological advancements that could pose a danger to our business?

Examining what’s going on in different industries might help you find opportunities for your business and mitigate potential risks that you might have overlooked otherwise.

2. What platforms do my competitors use for social media?

It’s critical to know where your competitors spend their time in the social media sphere. This might give you insight into which platforms they value the most for their marketing efforts. 

Consider how effectively branded and well-written their social media profiles are on each platform when you’re looking at them.

A competitor with a more refined presence is more likely to take social media seriously than one who is just sporadically active on a platform and hasn’t thought through their plan.

3. What is the size of my competitor’s following?

This data is readily available on a company’s website and can be used to establish benchmarks for your own B2B social media campaign. The number of followers, or likes, depending on the platform, can offer you an idea of how many people are looking for information, news, and more from your competition. Wider the reach of their social media content. the more followers they have.

Make it a point to return every so often to see whether their following is expanding. If that’s the case, you can bet they’re putting a lot of effort into cultivating brand supporters. 

If it isn’t, it’s possible they’ve focused their efforts solely on one social media outlet, which might reveal a lot about its effectiveness.

4. What Is My Competitors’ Posting Frequency?

The regularity with which competitor posts directly correlates with the size of their target audience. You don’t have to keep track of every post a competitor has made since joining Facebook, Twitter, or LinkedIn, but you should try to get a sense of their routine. 

Is it true that they post three times a day? Once a week, maybe?

Could it be that they haven’t posted anything in the last three months?

A competitor who posts infrequently or not at all is a dead giveaway that they aren’t as invested as you are. Those that publish frequently and with intriguing information that is shared, or liked show that they are committed to maintaining a steady posting rhythm on social media. By keeping an eye on competitors’ social media, you will get an idea about their best time to post on social media, the best time when their postings are getting more interaction.

5. What is my competitor’s content?

It’s crucial to observe what content your competitors are posting when conducting a competitor social media study. 

Is it photographs or video that they’re using? Do they rely on content from other sources or do they create their own? 

Is it entirely about the industry, or do they cover other things as well?

What’s the tone of the content they’re sharing – lighthearted, serious, corporate, or a mix?

If your competitors are providing a variety of content kinds and themes, as well as using language that is both informational yet casual, it could indicate that they have a solid social media strategy.

6. What is the level of engagement among my competitors?

While it’s simple to observe how engaged your company is on social media sites like Twitter and LinkedIn, determining how engaged your competitors are can be a little more difficult. 

If your engagement is low, brainstorm some ideas and look at the types of material that your competitors’ consumers appear to like. These pointers can help you analyze competition social media engagement:

  • Examine how interaction varies depending on the type of post (words only, image included, video, etc.).
  • Check to identify if hashtags are used in the posts. When hashtags are used correctly, they can enhance reach and engagement.
  • Calculate the average number of likes, shares, and comments they receive. This can provide information on how people interact on a regular basis.

7. What are the most popular kinds of social media posts among my competitors?

Is it their photos that are garnering the most attention? What about the videos they share on social media? The data you collect here can help you come up with suggestions for your own social media strategy.

You’ll also want to include information for any other big social networks where your competitors are active, which can differ depending on your trade. LinkedIn is a must-have channel for most B2B firms, while most retail brands go big on Pinterest.

While audience preferences may vary, this might serve as motivation for new content ideas during a brainstorming session.

Bringing it all together

So you’ve done your homework and gotten your data… Now what? It’s not the purpose of a social media competitive study to duplicate your competitors’ ideas or do everything they do. 

The objective is to have a better understanding of how your social presence compares to that of others in your field and to find areas where you may be better.

Additionally, while a competition study can provide you with useful suggestions for your own social media strategy, it’s a good idea to know what goes with it.

In an age of media overload, originality and authenticity is key to being heard.

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