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Social-Media-Competitive-Analysis

Social Media Competitive Analysis

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More than 90% of today’s brands are on social media to spread awareness of what they have to offer. If you are not on social media, you are heading for disaster and that is a given.

Know your rivals

You know who your competitors are and you even know them by name. But do you know what they are doing on social media? Are you going to react or proact to what they are doing? A social media competitive analysis will give you that insight. And that is what we do best. Helping you gain the best of what you can do in social media so that your competitors lose out.

How does this work?

A social media competitor analysis is very much like a conventional competitor analysis. It shows where you stand among the others in your market segment. Through this, we will help you identify where the potential threats are. Then you know what to expect and act on them. On the other hand, we help you discover any new opportunities. Then, you know what new potential there will be for your business.

The competitive analysis on social media process 

Now that you know what competitive analysis on social media
is, let’s look at how it works. We go through several steps in this process toensure that all the areas are covered and that your business is ready to headinto social media know what you are up against and what you could possiblydo.

First, knowing your competitors is crucial 

To get into a level-playing field, you have to determine thekeywords. Let’s say that if you operate a hotel in Cameron Highlands, thekeywords that you would most likely be focusing on would be ‘Cameron Highlands hotels’,‘best hotels in Cameron’, or ‘top accommodation in Pahang’. This might be entirelydifferent if you are operating a homestay. Hence, the keyword plays an extremelycrucial role here. One of the free tools that you can use is the Google AdwordsKeyword Planner, which is a free platform. This helps you to have a list ofkeywords that are related to your business which you can then narrow down.

After that, you will need to check and see who needs to findout who is using them. From the top 5 keywords, do a Google search and youwill know who your top competitors are. Take note of those who are payingtop-money to Google for the keywords and then visit their websites. If they areoffering similar services like you, then you need to take note and search forthem in Facebook or other social media.

Now, learn more about your target audience 

Social networks have tools that provide you with insights intowhat brands your audiences are following. Think of Facebook Audience Insightsand Twitter Analytics. The former allows you to search using the demographics ofyour target audience and see which People are connected to which Facebook Page.Meanwhile, Twitter Analytics provides you with the insights to see the accountsof who else your followers are interacting with. This is done through the ‘Following’feature.

What do you do next? 

At this point, you would potentially have many competitorsin your list. While you cannot focus on them all, select a few major ones whichare most active on social media. Ensure that they are targeting the same groupas you are. You need to know more about them through a detailed analysis.Questions that need to answer include:

  • Which social networks are the most active on? 
  • What is the size of their following and what isthat growth rate? 
  • What is the frequency of their posting andsharing? What about hashtags? 

How we help you?

We have an important role to play.

  • First, we study your business and your social media strategy
  • Then, we study and analyze your performance through the data from your platforms
  • We then benchmark your results with all the competitors both big or small in your market
  • After that, we chart where you are and where you are heading to
  • We then recommend new strategies and tools that can get you to your objective

That is what we do. In our social media competitor analysis, we study many other firms in your market segment who are in social media. That will give you an indication of how to forecast your next step.

Crucial Factors

It is extremely crucial for you to know what is going on out there. We can share all we can but without the right strategy, we will be posting blindly. So, we will report to you about:

  • Who are your competitors on social media? You will discover new ones that you didn’t know existed K
  • Which social media are your competitors in
  • How are they using social media
  • Are their strategies working?
  • Compare with your social media strategy and find any gaps

Where do you go from here?

Once we have identified all the issues above, we are ready to help your business grow. The process is simple, we find out where you can improve and how you can do that. With that recommendation, our team of social media experts will help you chart a plan that will push your brand forward. Whether it is for awareness, a social media campaign, an event or promotion, there will be platforms that are suitable. We will help you build your campaign from there.

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