How to Spy on Your Competitors’ Social Media Marketing Strategies?

Entrepreneur

Social media is the new battlefield for brands.

They’re experimenting with every social media strategy to build a relationship with their audience.

Some brands are successful, while others struggle.

Social media competitive analysis will help you understand why your competitors are gaining traction and where you should be playing to achieve your social media goals.

First…

What is Competitive Analysis?

Social media competitive analysis involves the continuous monitoring, tracking and analysis of competitor’s social media activities in order to develop winning marketing strategies.

But why Competitor Analysis?

The following image will help you understand:

You must now be aware of the reasons you need competitor analysis.

You know what? The next question is, “How can I do it?”

Let’s take a look at the sections below.

Step 1: Identify your social media competitors

Some refer to it as spying. I would call it intelligent monitoring of your competitors.

Your competitive analysis begins with:

Make a list of your rivals
Search for your potential rivals on Google by using the right keywords
Search for businesses that purchase pay-per-click ads using the keywords
Identify marketers that advertise on similar industry platforms
Search for eCommerce competitors like Amazon and eBay
Find your competitors on social media platforms such as Facebook and Twitter

Have you now compiled a list of competitive analysis elements?

If so, we’ll now be able to examine the website of our competitor and their social media marketing strategies.

Step 2. Step 2.

What does all this mean?

It is important to listen to and monitor the conversations your competitors have with their audiences.

But how do you get there?

This conversation can be found in comments, likes and discussions.

What is it going to do for you?

You can determine the size of your competitors’ audience by actively listening. This will help you find them. If they are dissatisfied with their current service provider/supplier, you can also reach them. To manage your spying, make use of AgoraPulse alternatives.

Bang on!

You might be the next victim. Keep an eye out for social media activity of your competitors and how they respond.

Let’s get started with collecting data on Facebook, Twitter and LinkedIn.

a. Collect competitor data via social media platforms

What social media platform do you want to start with?

Do not overthink it, get on board with Facebook.

Facebook has over 2.45 billion active monthly users. This makes it the perfect platform to track your competitors’ audience.

Look at your competition’s Facebook posts. The “total number” of likes is located in the lower left corner. Here is Titan’s Facebook post, with the total likes.

Click it to see the list of customers that liked the post (these could be your new customers).

Click on “Top Comments” in the bottom right corner to see information about your audience. These are the people that you should target.

Tip Use Facebook newsfeed ads to get more specific about your content strategy. Re-targeting allows you to pay for users who click on your ad and visit your website.

Learn: How to Promote Your Blog in 2023: 10 Simple Steps for Maximum Traffic

Let’s Move to Twitter After Facebook.

You should monitor your competitors’ audience metrics on Twitter. This includes demographics, likes, and preferences. Competent social media competitor analysis tools can help you track these data. After you have analyzed your competitors’ social media marketing moves, you can move on to other social media platforms such as Instagram and Pinterest to collect competitive analysis data.

You have now gathered all the data you need. What next?

b. Analyze and interpret the data

Keep track of the social media accounts of your competitor and create a spreadsheet. While analyzing competitor’s statistics, you will come across some important questions.

What was their last posting?
How often should you post?
What responses do they get from comments, discussions, and queries?
How responsive are they? (to comments, discussions, queries)

These are the four essential questions that will help you assess how active your competitors really are.

Active brands post at least two times per week. It is important to carefully analyze what content they post.

Are you promoting it?

If so, you should examine the frequency and the manner in which they post promotional posts that are enriched with discounts, offers, or calls to action.

But wait…there’s even more

You should also analyze the blogs of your competitors.

Are your competitors publishing blogs often to interact with the targeted audience.

Blog ideas can be taken from your competitors to create improvised content on similar topics. Buzzsumo allows you to plug in the posts of your competitors to see which posts are most popular.

Conduct a content audit to determine which blog topics are most popular with your audience. Attention to the structure of your blog.

Compare your blog content to your competitors. This will help you identify the areas where you are lacking and what you can do to improve.

Data analysis alone will not be of any help. Next comes

c. Do a SWOT analysis

Now:

Do the SWOT analysis to ensure your business is in the elite ranks of top marketers.

This will help you to understand your strengths, weaknesses, and your industry’s threats and opportunities.

You can use this data analysis to evaluate it by creating a spreadsheet and recording all key factors.

Tip To conduct your competitive analysis, you can use some visual techniques.

You have now identified the growth opportunities. The next step is to apply that analysis.

Step 3: Apply the competitive analysis data

It is time to act.

Social media analytics tools are now free and can be used to collect your social media marketing data and compare it with other competitors.

Marketers can benefit from analysis data in many ways.

Companies can assess their position on the social media market
You can identify key influencers that are supporting your brand
You can measure the achievements and success of your competitors
Look for opportunities where your competition is behind.

An overview of the strengths and weaknesses of competitors – a summary

Your competitor may have niches in which they are able to outperform their competition.

It is important to study it and learn about their strengths. Set that as your guideline and work towards it.

Your competitors’ strengths can be your inspiration. For example, Your competitor may make a video; you will make a better video.

You might find areas of opportunity in your competitors’ weaknesses. Offer plausible alternatives to customers in areas where your competitor is weak.

How?

Use the comments section to engage in conversations with your target audience via the blog of your competitor.

This is a great way to discover the problems of customers and company’s weaknesses. You can use all of the competitive analysis data you have gathered to devise better social media strategies that will drive more traffic to websites.

Just put

Learn from the strengths of your competitors and excel in areas where they are weak.

It all sounds overwhelming, doesn’t it? Don’t worry. Automate your competitive analysis.

How? Let’s look at

Step 4: Social media competitive analysis using online tools

It can be tedious to perform competitive analysis and monitor every move of your competition.

These online tools will help you to spy on the marketing strategies of your competitors.

SEMrush To monitor the positions of keywords used by your competitors
Alexa To monitor and track your competitors’ websites.
BuzzSumo To determine the social shares of posts from your competitors.
SE Ranking To track competitors’ search results on Google or other search engines.
Simply Measured To collect information about the branding strategies of competitors.
OpenSiteExplorer To examine the backlink profile for a website.

Step 5: How competitor analysis leads you to success?

The data has been collected from a social media competitor analysis. You know what the strengths and weaknesses of your competitors’ products.

Now is the time to do some self analysis.

Learn about your market and be inspired by the moves of your competitors. Then, create the strategies that will help you stand out.

Two options are available to a business: Be unique or better than your competitors.

You might not be successful if you don’t incorporate the strategy. Ensure that you compare your results with others at every stage of the implementation process.

Don’t waste your time with strategies that don’t work. It is important to listen, observe, learn, and then improve.

This is it!

What did we learn?

Online social media competitor analysis tools can be very useful in measuring the performance of your competitors. To learn and improve your business, you need to dive into the ocean of information.

You will need to know the copy, keywords, traffic information, and other relevant data about your competitors in order to plan your social media strategies.

What are your thoughts about this blog post? Please feel free to comment below.

How to spy on your competitors’ social media marketing strategies? SocialPilot was the first to publish this article.

Did you miss our previous article…
https://onlinemarketingagencies.net/?p=7118