Complete Guide to Social Media Competitor Analysis

Complete Guide to Social Media Competitor Analysis in 2022

Social media is no longer simply a source of amusement; it has also become an enormously important component of our life. As a result, there is a strong sense of competition all around. A social media competitive analysis assists you in estimating your competition; with this study, you may learn about your rivals’ strong and weak qualities. Social media competitor analysis also assists you in targeting your focused audience, which helps you grow at a tremendous rate.

It also helps you know your match, and eventually, you can plan accordingly. Not only this, but it will also reveal the reason your targeted audience is attracted to your competitive brand. Social media competitive analysis enables marketers to look outwards, grasp the competition’s strong points, and direct their attention to their brand. You may uncover additional social media information on your shared consumers and identify performance metrics you need to improve by studying rivals and assessing their social strategies.

Social Media Competitor Analysis

How To Do Social Media Competitor Analysis?

There are 12 basic steps that you can follow to accomplish social media competitor analysis these steps are as follows:

  • Find out who your competitors are

Knowing who your rivals are and what might help you differentiate your marketing. The Instagram competitor is classified into two groups. The first is direct, which may pass as a similar alternative for yours; the second is indirect, which is not the same but may meet the same client demand or address the same problem. Finding your social media competitor can benefit from beating your Instagram competitor. It may help you generate better, more interesting content that connects with people as they choose.

Doing social media competitive analysis helps you understand how your audience and your Instagram competitor audiences interact on social media.

  1. Create a better social approach

A strong social media plan includes time for communicating, asking questions, and connecting with the individuals we want to reach. In addition, when exposing your content to your audience, algorithms consider your degree of participation. The core of all marketing may be summed up in what has come to be known as the “four Ps.” They are as follows: product, pricing, location, and promotion. You will undoubtedly develop if you concentrate on these essential areas of social media marketing. And social media competitive analysis tool can help you do that.

  1. Create relevant content

Instagram content must not only be relevant and intriguing to your target audience, but it must also look amazing! Instagram is a highly visual medium, and effective social media marketing strategies rely significantly on eye-catching and engaging photographs. The social media competitive analysis tool helps you in creating good quality content.

  1. Better marketing and positioning

You may improve your marketing and positioning by doing the following:

  • Increase your fan base
  • Concentrate on your page’s first impression
  • Regularly publish content
  • Go live Include images and videos in your narrative
  • Collaboration with social influencers
  • Include hashtags in your captions

Free Social Media Competitive Analysis Tools

  • Followerwonk

Followerwonk is one of the top free social media analysis tools, which provides an excellent job at graphically portraying your followers’ most active moments. It makes it very simple to make informed business decisions at a glance—relationships with Buffer. It displays a detailed graph of your total number of daily new followers, daily lost followers, and a “net change” statistic to assist you in assessing whether you’re making progress in your overall follower count.

  • Buffer

A buffer is a fantastic social media competitive analysis tool that will assist you in two ways. You may compose a few articles at a time and pick which social networks to send them to, and Buffer will distribute them throughout the day or week, so you do not have to spend all of your time in front of a computer. Buffer not only shortens your links and recording interactions but tells you the number of clicks.

  • Cyfe

Cyfe is a dashboard platform that allows you to track metrics across popular social networks such as Facebook, YouTube, Instagram, Twitter, Pinterest, LinkedIn, Vimeo, and others. It also includes additional social media competitive analysis tool to help you manage your social media accounts.

  • KeyHole

KeyHole is a social network data reporting tool that monitors real-time and historical data in an easy-to-use manner through graphs, tables, and different types of aggregation. It allows you to track and magnify discussions about your brand and campaigns, locate prospective clients and influencers who are talking about (or seeking) your services and drive engagement by locating and re-sharing relevant material. It is a very easy to use social media competitive analysis tool.

Paid Social Media Competitive Analysis Tools

  • Sprout Social

Sprout Social is one of the best paid social media competitive tools complete social media management and monitoring solution with several enterprise-level features. Its cross-channel social listening capabilities allow you to be contextual and qualitatively study themes, hashtags, and keywords. Its graphic and easy reports can inform you how your content is across multiple social networks. The monthly fees are $99, $149, and $249 per month.

  • Hootsuite

Hootsuite is a social media management solution that provides users with a unified experience for managing their social relationships. Hootsuite integrates with Twitter, Facebook, Google+, Foursquare, and other services. It is a paid social media competitive analysis tool with monthly prices beginning at $19, $99, $599 per month.

  • Zoho Social

Zoho Social is a robust solution for social media managers, small and medium-sized enterprises (SMBs), and agencies in charge of social media and brand management. It is an excellent pick for social media competitive analysis tool because of its extensive scheduling and publishing tools and solid analytics and social media listening capabilities. It is a paid tool with monthly prices beginning at $10, $25, $200 and $300 per month.

  • Sendible

Sendible is a Software-as-a-Service (SaaS) solution designed to help agencies and corporations manage and organize their social media initiatives. This tool can assist in managing various brands and their associated social media profiles. The integrated dashboard of Sendlble is intended for simplicity and convenience of use. It is a paid tool with monthly fees starting at $29, $99, $199, and $299.

Difference Between Paid And Free Social Media Competitor Analysis Tools

There is a huge difference between the paid and free social media competitor analysis.

  • Accuracy

Paid Social Media Competitor Analysis

It is more accurate in terms of data.

Free Social Media Competitor Analysis

It is relatively less accurate.

  • Relevant

Paid Social Media Competitor Analysis

It is more relevant.

Free Social Media Competitor Analysis

It is relatively less relevant.

  • Results

Paid Social Media Competitor Analysis

Results of paid social media competitor analysis are more accurate, and reliable.

Free Social Media Competitor Analysis

Results of free social media competitor analysis are less accurate, and reliable.

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