How does spying sound? Thrilling right?
Spying on your competitor gives you an added advantage in the digital world. Everyone learns from their own experience but one who learns from others’ experience comes out on the top.
And it can be said that competitor analysis is an art, not everyone knows it, but anyone can learn it.
It is a great tactic to understand your competition in order to win the competition and rank high.
So, in today’s post, I have mentioned 5 competitor analysis tools for social media to keep you ahead of others. Let’s begin with first understanding what competitor analysis tools do and why one should use them.
Top Reasons for Doing Competition Analysis on Social Media
- Competitor Analysis on Social Media helps you understand what you are up against.
- It allows you to create benchmarks like engagement rates, shares, followers and likes.
- It gives you an idea of what the audience likes and what are they moved by, essentially their pain points.
- It gives you an idea for content generation ideas that lead to conversion.
- It helps you better your lead generation tactics.
- The gap between your competitor’s and your content through which you can create a content optimization strategy.
- How your competition is going about in creating brand awareness.
There’s a lot more you can do with Competition analysis. It all depends on how deeply you’ve analysed your competition and what are your takeaways from the insights.
It is your job to do the market research and create a strategy that works for your product and your target audience.
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What does a Competitor Analysis Tool for Social Media do?
- Help you in determining your competition. You can do that if you have a finger on the social media pulse. But the competition analysis tools acts as an added advantage.
- Identify Keywords- If you strike in the blind, it might work the first time, but not always. Analysing the competitive keywords help you in creating a content strategy that will not only help you in building a strong base but also will act as a great ranking factor.
- Identify their target audience.
- Identify their Engagement rate.
- How they go about interacting with their audience.
- What kind of social media platforms are they on?
- How many times do they post and when do they share posts.
- What is the public talking about your competitors?
- Identify the content gap and opportunities. Work with it.
- Identify their strengths and weaknesses.
Now that we know what Competitor analysis tools for social media does, let’s talk about the various analysis tools.
Best Competitor Analysis Tools for Social Media
With so many tools in the market, let’s go about understanding the Top 10 competitive research tools. These analysis tools are what we can call the best in the market, and have been tested by the oldest players in the field.
Sociality.io not only helps you analyse your competition, but it also helps you create an analysis report along with detailed graphs of your own performance. It tells you where you stand and how far you have to go.
It allows you to compare 15 competitors and download the various reports separately allowing you to create a strategy that is your own based on what the competitors are doing.
You can create your own strategy and build up your project to suit your targetted audience.
Here are a few of the features that you might be interested in:
- Compare 15 competitors simultaneously
- Create competitor analysis Reports
- Create a social media competitive analysis template to suit your need with the charts that you need along with your brand name and logo.
- Content Analysis
- Engagement Rate Anlysis
- Tooltips to help you understand the various jargons
- Export to PPt or Excel
The personal plan starts at $15/mo(1 user and 5 social profiles) which is billed annually. You can sign up for a 14-day trial without Credit Card.
Team Plan starts at $60/mo(2 users and 10 social profiles) and the Business plan starts at $180/mo (3 users and 15 social profiles).
#2. Social Bakers
Social bakers, now a part of Emplify is a tool that allows you to create an in-depth analysis of your social competitors. Here are the solutions it provides:
- Discover Content Strategy- Know what content to create
- Uncover critical trends
- Research and Planning
- Listening and Intelligence- Audience conversation and sentiment analysis
- Tracking and reporting of your Influencer marketing needs
- Create Benchmarks and strategize accordingly
- Manage all your social media activities from one platform
- Simplify your reporting by accessing clear data of your organic and paid efforts.
The Essential Package for 10 profiles comes at INR13300/mo billed annually. For the Complete Socialbakers Solution, you can request a consultation.
Trusted by thousands, it is the best in industry social listening tool that helps you create business strategies that are all your own and created keeping in mind your target market.
Understand your Audience with its help and uncover trends along with insights that can make or break your brand.
Here is what it offers:
Social Listening Features
- Examine audience preferences,
- Track conversations,
- Audience demographic,
- Identify influencers,
- Sentiment research,
- Competitor comparison,
- Trend identification
- Enhance your strategy with informed data.
- Schedule multiple social posts across different profiles simultaneously,
- Utilize optimization algorithms to auto-schedule content to post at the times proven to generate engagement,
- Find engaging content,
- Generate workflows,
- Add engaging and converting sales opportunities into your content by scheduling posts with links to your products,
- URL tracking to identify social traffic and monitor campaigns.
- Monitor your messages and offer quick responses from one place.
- Get alerts when there is a spike in the messages.
- Manage reviews across social media
- Create chatbots that reply automatically to incoming messages.
- Delegate messages
- Message tagging
- Access conversion histories
- Analyse team reports
- Profile performance Report to evaluate social growth.
- Get tag reports of inbound and outbound messages
- Analyse post performance reports to understand what resonates and what doesn’t.
- Track competitors and create benchmarks to identify new opportunities in your industry.
- Team and Task Reports analyzing productivity
- Evaluate social advertising
If you’ve been in the digital market for some time, you must have across the name BuzzSumo and how it is a great tool. Not going to lie, it is a great tool.
It analyzes the various content present on the web and showcases the most engaging content across social media. It helps you in researching the trending content for your niche. Not only that but it offers various other advantages like:
- Building influencer relationships
- Segments the Information
- Offers what’s best for your network
- Content Research
- Provides insights to trending topics
- Shows Backlink opportunities
- Great monitoring and analytics tool
You can get the Pro package at $79/mo, Plus Package at $139/mo, Large at $239/mo and Enterprise at $499/mo with each offering various different and added features.
Netbase helps you analyse trends, monitor competition, drive your business, protect your brand, and manage crises whenever the need arises.
With Netbase you can:
- create a campaign strategy by analyzing consumer data and insights,
- deliver compelling products to the consumer,
- analyze news trends to monitor and grow your brand,
- evaluate your brand competitors and make informed and strategic decisions.
Quick Tips to Analyze your Competitor
- Identify your top competitors
- Analyze and compare competitor content- what kind of content are they posting- blogs, Case studies, in-depth analysis, videos, podcasts.
- How frequently are they publishing and at what time are they publishing content.
- Analyze their work, their creativity, SEO, their backlink strategy, identify the gaps and where they lack.
- On what social media platforms are they active on and where do they share the content. Find out what the audience is talking about your competitor and make a detailed report.
- Use your competitor’s shortcomings and create your own winning strategy.
Frequently Asked Questions
How do I find social media competitors?
There are various tools with the help of which you can identify your social media competitors. You can also do it with a simple search on Google. Look for who is ranking on SERP for the same content you are trying to rank for.
What are the tools and techniques of competitive analysis?
You can use various tools like BuzzSumo, SproutSocial, Ahrefs, Social bakers and Netbase that you can do to conduct competitor analysis. You can use free tools like Like Google Alert to listen to the social pulse. While doing a competitor analysis, you need to ensure that you know who your competitors are, the gap between theirs and your content and how you can use that as an opportunity.
What are the competitor research tools for Facebook ads?
You can use SpyFu, BuzzSumo, Mention and Awario for analysing competition on Facebook ads.
How do you find competitors data?
There are various ways with the help of which you can collect your competitor’s data:
1. Through their website.
2. Annual reports
3. Understanding their activity.
4. What is the audience talking about your competitors?
5. Review of the customers.
Competitor analysis is a wide topic. You just have to find out your competitor’s weaknesses and use the missed opportunities to rank higher than your competitors. What you also need to understand is the fact that your competitor’s are also doing the same.
So while you are analyzing the competition, ensure that your strategies are working for you. If not, then find out what you are missing.
In not many words, analyze your competitors but also your own project on a regular basis to get better results.
I hope the above article was helpful. You can let me know if you have any advice or suggestions on Competitor analysis tools for social media through the comment section below.