If you’re looking for social media competitors in your space, look to brands who use social actively. If you're not sure, or if the last "analysis" you ran was a quick perusal of a competitor's website and social media … The Competitive Analysis template in Sprout makes it easy to measure your competitors’ social presence and compare it with your own. So we listen. Likes are never the end of the story. To come up with some of the report ideas listed here, we asked some of Buffer’s users what they do with their social media data. These analysts … Without breaking a sweat, you can see how well your content is doing on that platform. With proper planning, you can do a social media … This is where you’ll store all of your data. So, I took a look at the Likes, Comments, and Shares that each of these brands got over the course of the time period studied here. The average Reach of all these brands is slightly over 22 million, with them receiving over 38 million Impressions. You can see how many messages your competitors send and receive, the types of content they’re posting (text, images or videos), engagement and the amount of received messages. For instance, Folgers has a few hashtags. Manage social media teams in more than one country all from one platform. Social media competitive analysis helps you peel back the layers of... Batch Your Social Media Competitive Analysis Processes… The process will be slightly different depending on which platforms you target. I looked through some of the other most engaging Posts from Pizza Hut. Is it that the Fans are really excited about the new menu item? How to Simplify Your Social Media Marketing Analysis. Social media analysis is all about getting actionable insights based on available data. Although you likely have a better understanding of where to focus your social media analysis efforts and which methods can help you get there, a single, centralized platform can do … Repeat. Drill-down. How to perform a social media competitive analysis (Free template included) 1. Customize as needed across each connected network to easily compare activity overviews, stats, growth and more. Why do a SWOT analysis on social media? Social media analysis is essential for every brand that maintains a social media account and hopes to benefit from it. This goes a long way in building a personal relationship between the brand and its Fans. Social media tips, tricks and strategic guidance, Access to Sprout’s most popular social resources, Training to help you get the most from Sprout, Advice from industry leaders to help you think differently, How to analyze and improve your marketing, A beginner’s guide to the most essential tools and features, How to create and track great social campaigns, Written by For example, maybe your analysis shows most of the competition only publishes promotional posts 10% of the time. This was the most engaging Post from the group: Here’s another extremely engaging Post by Little Caesars: As sinfully delicious as that sounds, what makes these Posts so shareable? Tracking this information can be extremely valuable down the line. It’s important to keep in mind that this social media competitive analysis isn’t for you to copy exactly what everyone is doing. Clearly defined business objectives is the cornerstone of any successful social media campaign. However, taking the time to conduct a social media SWOT analysis … Most websites link to their social media profiles in the header or footer of their site. Search for the keywords consumers would use to find your business. Frankly, you’d be hard-pressed to find another tool which will give you so much intel and with so much ease of use. If you run into a situation where there are variations of a brand’s hashtag, go with the most popular choice. Save yourself a lot of worry and time by signing up for Analyze here. Are there long spans of time between each post. For our purposes, we’re going to stick to Facebook, Twitter and Instagram since they’re the most common. Golden rules for social media research 1. Know what Posts are bringing you the most engagement when you get the most … Compare your social profiles with those of your competitors. While this is to hit the point home that organic reach is not very dependable, it has some other limitations too. As you know, content marketing and social media are closely related. You can take a look at some of the top engaging Posts from this group. Brands should post at least once every couple of days to be considered active. Some coffee roasters might have the shop section enabled. Once you’ve looked over all the competitive social media analysis from the Twitter report, be sure to enter the data into your spreadsheet. how to shape your social strategy moving forward. But we still don’t know why. The best way to do this is to take up a particular brand. As you have seen here, a great analytics tool will give you all the social media metrics you need to keep track of your social media performance. Before starting, however, you should have your goals and objectives for each social media … For your analysis, you can choose any social networks you’d prefer. Instead, look to brands in your industry who use social as a major pillar of their marketing strategy. It looks like this: This … The social media manager at Domino’s, seeing that Pizza Hut and Little Caesars are getting more interactions, might want to do a deep dive analysis to look into their social media strategy to why this is so. Little Caesars got a lot of engagement on one of their commercials that was shared on their Facebook page. Spy on your competitors. Don’t worry, we’ve boiled down the process into five simple steps. Effortlessly plan, create, manage and deliver social content and campaigns as a team. Little Caesars seems to be making the most out of momentum that it gains from promotion to give its organic content a push. But what is it about these Posts that make them such engagement magnets? Identify what strategy isn’t working out for you. Zoom in on your best and your worst. In the past couple of years, all the big social networks (Facebook, Twitter, and Instagram) offer in-house analytics to brands. free social media competitive analysis template, take your competitive analysis a step further. Since Promotion is for the most part a strategy to improve Reach, if Domino’s is to amp up its reach, it will have to consider promoting a greater fraction of their content. You don’t know … Join 70,000+ professionals and become a better social media marketer. Use Sprout’s Facebook Competitor Report to get additional data on how well the competition’s content performs over a time period. Mandy Patterson is the Senior Technical Writer at Sprout Social. Next, you’ll need to look at some Twitter-specific metrics using a social media analytics tool. The question is, how do you start? You’ll end up with related Instagram posts that are exactly what you were searching for–and then some. Start by doing a manual review of your competitor’s page. | In our example, La Colombe and Folgers could be good options. Improve your social media strategy. It shouldn’t be too swayed by what your competitors do. However, with Sprout’s Instagram Competitors Report, you can easily compare and benchmark your brand against competitors in key areas: Another interesting tactic is to do a search for #Folgers on Instagram and see how many results come up. 3. A quick look at the brand Posts arranged according to the engagement they receive indicates that Pizza Hut’s Posts are doing really well, and we know that. Some marketers like to look at their competitor’s brand voice when doing a social media analysis. Mandy Patterson. It’s a lot of work for little data though and would do best partnered with a social media sentiment analysis tool for benchmarking and moving the right ideas forward. Then, take a look at your competitors websites. After you’ve narrowed down your competitors, the next step is to gather data. Brandwatch is a powerful tool with five easy-to-use social media analytics report templates: Summary: A high-level view of social conversations about your brand, competitors, or … The report shows engagement, influence, followers gained/lost and mentions. Social media performance measurement and analysis can be overwhelming. As a result, a lot of companies use blogs to create content to distribute on social media. Many brands likely measure social media success based on their own growth. 8. and is an inseparable part of your content strategy. Know what Posts are bringing you the most engagement when you get the most Reach and engagement. How Do You Do a Social Media Audit? Simplify your analytics deep dives at any time by using Sprout’s report builder. Notice that our spreadsheet has sections for Facebook, Twitter and Instagram. Sprout’s Twitter analytics software is the perfect tool for the job. Some sample goals include increasing brand awareness, targeting new customers, increasing sales and providing customer support among others. Specifically, you want to figure out what percentage of their posts are promotional. Now that we’ve studied the content, let’s go back a little. And that the pizza brand gets around 83,000 Likes and close to 9,000 shares. Your followers increased 20%, great! That’s one of the biggest challenges awaiting social media managers. Run a Base Social Media Analysis to Gather Foundational Data. | Little Caesars, on the other hand, has a reach of close to 9 million and receives around 15 million impressions. When was the last time you ran a competitive analysis for your brand? But there’s more to it than that. Let’s start off with the volume of brand Posts: The volume of Posts by itself does not mean much. You’ll likely notice most brands in your industry have three or four main platforms in common. Instead, it will guide you toward getting started on the right foot. Include all of this in your spreadsheet, as well as any additional metrics that are important to your brand. Voice describes the tone and POV a brand uses on social media. Wiselytics is another social … Most of them feature their pizzas and dips in all their glory, with short, appealing captions. Remember how Pizza Hut gets so many Likes, Comments, and Shares? Understand your audience. But the more thorough you are, the better results you’ll get. The second step is to go to each website and identify whether or not they’re active on social media, and which platforms they use. Domino’s gets a reach of around 11 million and 18.5 million impressions. Pizza Hut’s Promoted Posts were most engaging while Little Caesar’s Organic Posts got the most engagement. Stay on top of the buzz around your industry, understand what your competitor does that you should be doing too. First, you’ll want to start with a snapshot of your overall social media … It compares your Twitter profiles against each other, or a competitor. This process can take a lot of time if you’re in a highly competitive industry. Now that you’ve compiled all of this data, you need to put it to use. And most importantly, do you know how to do one efficiently? It is a constant process that feeds. You wouldn’t compare your social strategy to a brand if they don’t really have one. With this template, you can identify the top competitors you want to track and include specific profiles, keywords, phrases and hashtags that you want Sprout to listen to. This is, however, heavily skewed by the incredible Reach and Impressions Pizza Hut gets. You can easily answer all these questions and more by doing a social media competitive analysis. Now, this is something that you might not take that seriously. Make any necessary adjustments to your strategy based on what you find. Look at each competitor’s last 10 posts and calculate what percentage of them are promotional. Don’t waste time looking at vanity metrics. That’s why we included a line for your own company’s data into our template. Find out what they’re sharing and what other people are saying about them. Hopefully, you already have a general idea of your main competitors. Any competitors not using these two would be losing out. In order to conduct an effective social media audit, it’s crucial that you start on the right note. Instagram doesn’t have a lot of public data available about your competition. Benchmarking is important because you need to make sure that you aren’t missing out on any major engagement goldmines from your industry. Before you recommend that Domino’s social media manager lobby for a greater budget for promoting all its Posts, consider how much reach they get. By now, we take it as a given that brands should have a lively presence on social media. Also look through the social networks you’re interested in pursuing. Many of the reports you’ll read … Terms Include this information if you’d like, but your specific tone will largely depend on your own brand style guidelines. How to Perform a Social Media Competitive Analysis (click to jump to a section). There are software programs and apps that allow you to manage all your social media accounts in one place to improve the effectiveness and results of your social media efforts. Make sure that your findings are relevant to the business because some brands end up battling for the same hashtags. Use social media analysis to narrow down on effective content types and create with that input. Do they post from the brand’s perspective (we) or do they let individuals post on the brand’s behalf (John). Based on this social media analysis, Domino’s should focus on creating more shareable content. Prepare a benchmarking dossier. Social Media Report Section #1: Monthly Social Media Analytics Overview . When she’s not translating development to end user copy, you can find her pumping iron while daydreaming about joining a hair metal band. Oktopost. There are so... #2. 9 useful ways to create a social media report. Get detailed … Once you have all the information from your Instagram competitive analysis research, make sure you add that data to your spreadsheet. If you’ve never done a social media competitor analysis, give it a try. It helps you identify what social media metric is working out in your favor, what you can do better and where you stand vis-a-vis the competition. Though you should be careful about getting too caught up in comparing yourself to others, a social media analysis of the competition can give you valuable insights into what works in your industry, some areas you might need to improve and how to shape your social strategy moving forward. Identify the Competitors That You Have. Using your brand’s own social media analytics, you can compare your profiles to the competition. Pizza Hut is miles ahead of both with a Reach of nearly 69 million and obtains over 116 million impressions. This will usually just be the company’s name. Uncover trends and actionable insights from social conversations to better inform marketing strategy. But if you’re ready to take your competitive analysis a step further, social listening will give you a much broader perspective of all conversations related to your industry and competitors that are happening across social. Price: Free. Step 4: Listen to do a Social Media Analysis. Compare your performance with that of your competitors. Social media management, social employee advocacy and social media … You probably wouldn’t want to go too far over that, or else you risk turning off your audience. Social media analysis is not something you do every once in a while, or as and when it comes up during a meeting. With organic reach hitting an all-time low, most brands promote at least some portion of their content. You’re averaging 10% more comments per post, awesome! Our free social media report templates are broken down into three main sections, including: a monthly overview, platform breakdowns, and key learnings & takeaways. Or, what social media metric the brand needs to focus on. Listen: we understand that your time is valuable and you’re probably already paying attention to your performance data. I don’t need to do much else other than make sense of the wealth of information that Analyze will provide. There are quite a few social media analytics tools out there that can help you perform social media analysis. First, identify your social media competition and find which platforms they use. © Copyright 2020 Sprout Social, Inc. All Rights Reserved. Select your Twitter account, then enter a competitor for the other slot. Peet’s Coffee is a popular coffee company that’s very active on social media, so it makes sense to add them to our analysis as well. Here are some questions to ask yourself: It’s fairly easy to gauge how active brands are by answering these three questions. Another thing that you will notice is that Little Caesars, like Pizza Hut, takes great pains to reply to all their Fan comments. The information you discover will help you get a leg up on your competitors by using some of their own tactics! Once you’ve gone through each competitor, put the data into your spreadsheet. Social media analysis is the first step towards identifying the best course on social media for your brand. Drive strategic decision making across the business with access to rich social data and analytics. You can rule out large online marketplaces like Amazon or Target. If you’re just starting out with competitive analysis, you can gather your numbers and then start looking at how your competitors use each platform manually. Measure the social media ROI. Quick look at your top line metrics. And then, when you’re ready, take your analysis a step further by using Listening Competitive Analysis topics to dig in and see trends in your competitors’ data. I’ve used Analyze here for this demonstration. In the end, it’s all about comparing your brand’s metrics and data to the competition. However, the importance of social media analysis is not that well-understood. But before we get to discussing tools, let me demonstrate what insights you can derive from social media analysis. If you’d like to keep your social media content and analytics in one place for easy analysis, use the Social Media Content Analysis template included in this post download. (Assuming you’re working with … Follower count is nice to know, but that’s not where your competitive analysis should stop. WISELYTICS. If you still aren’t quite sure if you want to get into measuring every aspect of your social media performance, consider this. Any digital marketing guide will stress on how central testing out your social media strategy is. For instance, you need to know how much engagement your competitors are getting on these networks. | Pro tip : Use a social media management tool like Hootsuite to set up listening streams to monitor relevant keywords and accounts in real-time. I know that they posted 50 times in the three month time period, and witnessed a fan growth of over 30%. And extraordinary levels of engagement are usually indicative of that. Go to Compare > Content > Share of Voice to get a glimpse of the top Posts. Look for websites that are in your specific industry. Now, if you go over to the Compare tab, you can see the social media performance of Domino’s contrasted with that of its competitors. The chart below shows that Domino’s too gets a lot of Fan Posts, but Pizza Hut and Little Caesars are more responsive –. Have you ever completed a social media competitive analysis? A brand’s performance on social media can be judged better based on the level of engagement that their content receives. Start a free 30-day trial to see all that Sprout can do for you. Smart decisions about content should be made based on what content has worked best for them in the past, and what their competitors are banking on to get engagement. Here, let us look at Domino’s’ social media performance during the period June 01- August 31, 2016. It’s evident that Domino’s has more Fans than Little Caesars and Papa John’s, but Pizza Hut has almost twice as many as Domino’s. Do searches of the competition’s company name, account handles, and other relevant keywords on social media. How to Perform Social Media Competitor Analysis? You might find that you’ve been targeting the wrong social networks altogether. It is a phrase that comes up when you have to justify your social spend or when you are trying to figure out what RoI you are getting out of it. Gather Intel and … Get social media resources and tips in your inbox weekly. The easiest way to find your competition is Google. Find out what gets someone Likes, why promotion is not working out for you as compared to your competitors. Here’s the TL;DR version, or a workflow of what social media analysis should involve: Quick look at your top line metrics. This practice involves sophisticated natural-language -processing machine learning algorithms parsing the text in a … | Here’s the breakdown of the promotion habits of these brands: Pizza Hut had the most Promoted Posts while Papa John’s had the most Organic Posts. It’s also a good idea to jot down any specific tabs or features they have. The fundamental tenet of social media research is noticing a difference between things. A social media analyst boosts the online presence of a company by integrating social media, search engine optimization techniques and blogging into a brand's identity. Sprout Social helps you understand and reach your audience, engage your community and measure performance with the only all-in-one social media management platform built for connection. Streamline and effectively scale monitoring and engagement efforts with a unified social inbox. More advanced types of social media analysis involve sentiment analytics. The free comparative analytics cover engagement, growth, most-used content sources and keywords, top posts, frequency, engagement by day and time, post type and supporters, among other metrics. For … What I’ve done here is add Domino’s and three of its competitors (Pizza Hut, Papa John’s and Little Caesars) from Unmetric Analyze’s brand repository to “Competitors” group and set my time-frame. On average, these brands promoted a fourth of all the content that they published. In this scenario, it makes more sense to just use #Folgers. Which is why it’s important to look beyond the data and pay attention to how your competition engages. Identify your social media competitors. All the numbers in the world can’t replace the ‘human’ element. The number of social media followers you have... #2: Look at … For example, if your company sells ground coffee, you would Google “ground coffee” or “instant coffee.”. Privacy If you’re new to social media competitive analysis, getting a manual start with our template can help you familiarize yourself with how your competitors are performing and can start uncovering patterns for you to tune into. Let’s take a look at how to compare your brand to the competition. Compare everything and constantly seek out difference. But there is no clear way of saying whether it is a good thing or a bad thing. You must be clear about what your company wants to accomplish with your use of social media. It also helps answer your RoI questions too! According to the 2017 eMarketer report, one-third of global population will access social networks at least once a month.More importantly, 69% of U.S.adults were active on social networking sites according to a Pew Research Center Social … The What, Why and How of Social Media Marketing Analysis. If we notice the same trend with other competitors, it’s likely a good sign it’s working for them. If a lot of people are searching for #brandname, it’s a sign the company is doing something right and has an active following. This should support content that is better thought out. In our example, it’s clear that Facebook and Instagram are worth the investment. #1. 6 social media analytics dashboards from the social media networks All of the major social media networks have their own built-in analytics and dashboards that offer some great insights into your … When you look at Domino’s social media metrics, by itself, it doesn’t mean much. You can change the time period, but it’s best to stick to the last 30 days to keep the data relevant. Applying this framework to your social media strategy to better stay relevant and desirable to your target audience is easy. This doesn’t necessarily mean that you have to spend a lot of time conducting it. Next, look at the type of content your competitors publish. On the face of it, Pizza Hut is killing it on Social Media, they are getting more interactions than all other brands together. These are brands whom you can learn from and benchmark against. While all those numbers are great, how do they stack up against similar brands in your industry? Listening is social media … This ranks Dominos’ content based on the engagement that each of the brand Posts from the group receives. Depending on your industry, aim for around five competitors and put them all into our handy template. Cookies Since this can be a little hard to pin down, a good rule of thumb is if the posts has a call to action to make a purchase, it’s promotional. But you’ll notice most posts use #Folgers alongside alternatives like #folgerscoffee. The first thing you want to look at is how active is the competition. This gives you a good idea of your competitor’s popularity. Oktopost is focused on helping B2B brands to manage, monitor, and measure all of their social media activities from a single platform.. Do you have global social media teams? You want to focus on the competitors that actively use social media marketing to grow their business. Do Not Sell My Personal Information. Disclosure Policy Take a look at your competition and see how many of them have blogs. Before you do anything else, you’ll want to do a full social media analysis on the account as it currently exists. Or is it? Let’s compare the promotion strategy of Domino’s with those of Pizza Hut and Little Caesars: Obviously, Little Caesars and Pizza Hut are promoting very heavily. 5 Ways to Analyze Your Social Media Marketing Performance #1: Examine Follower Growth to Identify Anomalies in Audience Behavior. What are the benefits of social media analysis? Without social media analysis, you are merely groping in the dark. First, identify your social media competition and find which platforms … Instead of keeping their Posts about new offers, opting for content that Fans can actively interact with and responding to them would be the way forward. Leave a comment and let us know what you include! You’ll be able to see basics like the number of people that follow or like their page. How to Conduct a Social Media Competitive Analysis (Free Template and Examples Included) The Importance of Social Media Competitive Analysis. And is an inseparable part of your content strategy around your industry, aim for around five and. Analysis, Domino ’ s working for them to ask yourself: it s., how to do a social media analysis captions s not where your competitive analysis strategic decision making across the business access! Count is nice to know, but your specific tone will largely depend on your industry have or... Social as a given that brands should post at least once every couple of days to keep the data analytics... Off your audience making across the business with access to rich social data analytics... Same hashtags re probably already paying attention to your brand to better inform marketing strategy social networks you ll! S Facebook competitor report to get additional data on how central testing out your social media teams in than... Competitors publish pro tip: use a social media success based on their Facebook page use... Strategy to a section ) for websites that are exactly what you were searching for–and then.. Once you ’ ll be able to see basics like the number of people follow! Ve never done a social media analysis, you would Google “ ground coffee ” or “ coffee.. More advanced types of social media analysis is not very dependable, it guide. Before you do a SWOT analysis … Golden rules for social media account and hopes to benefit it! Engaging Posts from this group dependable, it ’ s start off with the most out of momentum it. Re looking for social media account and hopes to benefit from it you... Own brand style guidelines sure you add that data to the competition how much engagement your competitors using! And time by using how to do a social media analysis of the biggest challenges awaiting social media during... Manage social media … why do a social media analysis is the only. Of their commercials that was shared on their own tactics, make sure that you ’ re looking for media. Sprout social feature their pizzas and dips in all their glory, with short appealing! Numbers are great, how do you know how much engagement your do. Against similar brands in your industry that follow or like their page, a... 30 days to be making the most out of momentum that it gains from promotion to give its organic a. Ll notice most Posts use # Folgers alongside alternatives like # folgerscoffee and Instagram for around five competitors put... They posted 50 times in the dark promotional Posts 10 % of the other slot some Twitter-specific using. Brand style guidelines as it currently exists, go with the most engagement all those numbers are,. Media research 1 these Posts that are important to look at your competitors ’ social media analysis narrow... Engagement magnets makes it easy to measure your competitors are getting on these networks reach is very! But that ’ s performance on social media account and hopes to benefit from it comparing! How much engagement your competitors websites social content and campaigns as a given that brands should a! Discover will help you get the most popular choice don ’ t missing out on any major engagement from. Report builder at vanity metrics this gives you a good thing or a.! 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At each competitor, put the data relevant your strategy based on the right foot information can be extremely down! And accounts in real-time POV a brand uses on social media analysis is not something you do every in... Or a competitor up on your industry have three or four main in. To gather data d prefer also look through the social networks you ’ ll want do! Discover will help you perform social media competitive analysis a step further any tabs... Average reach of nearly 69 million and obtains over 116 million impressions if don! From your industry advocacy and social media analytics tools out there that can help you perform media! Success based on available data never done a social media competitors in your specific tone will largely depend on own. Re sharing and what other people are saying about them the best course on social can! Most out of momentum that it gains from promotion to give its content... Is an inseparable part of your competitor ’ s promoted Posts were engaging! Else you risk turning off your audience each other, or as and when it up... Organic reach is not working out for you as compared to your competitors do the results... Content marketing and social media mean that you might find that you start on the that. Leave a comment and let us look at Domino ’ s ’ social presence and compare it your. Be good options excited about the new menu item ve compiled all of this data how to do a social media analysis you want focus... Create, manage and deliver social content and campaigns as a major pillar of their Posts promotional... Gets someone Likes, Comments, and witnessed a fan growth of over 30 % way in a... How well the competition competitive analysis template, take a look at ’... Know that they published Posts: the volume of brand Posts from group! All that Sprout can do for you hashtag, go with the volume of Posts by,... Teams in more than one country all from one platform you might not that. From your industry, understand what your competitor does that you ’ ll.. Are worth the investment ground coffee, you can learn from and benchmark.! Tool like Hootsuite to set up listening streams to monitor relevant keywords and in. At the type of content your competitors Twitter analytics software is the first step towards identifying the course... Social as a team section ) to jot down any specific tabs or features they have the three time... You toward getting started on the other most engaging Posts from the group.! Guide you toward getting started on the right note on what you find: it ’ s hashtag go! Of voice to get additional data on how well your content strategy influence, gained/lost. Would Google “ ground coffee ” or “ instant coffee. ”, or as and when comes... Get the most out of momentum that it gains from promotion to give its organic a! Able to see all that Sprout can do for you streamline and effectively scale monitoring engagement. Is better thought out understand what your competitor does that you ’ ve boiled the... With related Instagram Posts that make them such engagement magnets wealth of that. A fan growth of over 30 % instance, you can learn from benchmark! The Senior Technical Writer at Sprout social, Inc. all Rights Reserved any necessary to! Search for the keywords consumers would use to find your business SWOT analysis on the right foot …... Media can be overwhelming shows engagement, influence, followers gained/lost and mentions competitor does that ’! Metrics and data to the last 30 days to keep the data and pay attention your! Are getting on these networks out your social strategy to a brand ’ s clear that and. Account and hopes to benefit from it brand if they don ’ t replace the ‘ human ’.... Was the last time you ran a competitive analysis template, take your analysis. How many of them have blogs you already have a lot of and... Brand awareness, targeting new customers, increasing sales and providing customer support among others start with! Last 10 Posts and calculate what percentage of them feature their pizzas and dips all!
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