The right competitive intelligence can do wonders for your social media performance. With competitive analysis, you can benchmark your progress, learn from leaders in your industry, and see how your content measures up.
Find out how you measure up
One of the best ways to know if you’re doing well on social media is to see how your metrics compare to similar companies in your industry. It’s one thing to monitor growth against your internal KPIs, but it’s another thing entirely to benchmark those KPIs against your industry’s standard. So be sure you’re monitoring at least one or two of your closest competitors and periodically comparing your analytics to theirs. Don’t look too hard at raw numbers; instead focus on engagement and growth rates.
And, our competitive analysis reporting can help with this! You can now add competitors’ pages to your Facebook Trackers to compare posting behaviors, fan and engagement rates, even see what kinds of posts perform well for other pages, all relative to your own. Learn more about Facebook competitor reporting here.
Learn from your competitors
Pay attention to the content your competitors and other industry leaders are posting to see what you can learn about what resonates with your target audience. You may be surprised at what you can learn from observing others. Are your competitors using a lot of video successfully? What kinds of language do they use in their posts? Are there particular topics they seem to talk a lot about? Use this intel to make your own content better.
With Union Metrics Trackers, you can monitor any public accounts, so it’s easy to set up competitive monitoring for your competitors across Twitter, Instagram and Facebook. Our reporting will reveal a number of details about your competitors’ posts, to help you pinpoint key pieces of content that are performing well with the audience you want to reach. Use this to help craft your content strategy moving forward.
Track your share of voice on social
Set up monitoring for keywords and competitors in your industry. See just how much of the conversation is about your brand – and then come up with a plan for how you can increase your share. This works especially well on Twitter, where you can understand what customers are saying about your competitors, as well as how much conversation there is about your industry. Share of voice is a great way to contextualize your other marketing KPIs. You can use our topic Trackers to be sure you’re capturing every mention of your brand, your competitors’ brands and relevant industry keywords.