How often do you conduct social media competitor analysis and how do you report the results?

In our agency, we do a social media competitor analysis for our clients each month and present them with the findings. This gives us the chance to re-adjust our client's strategy and to make sure that our clients are competitive in the market.

Before starting a social media competitor analysis, it’s crucial to have a clear understanding of your objectives. Here are steps to define your goals effectively: Identify Key Objectives: Brand Awareness: Are you looking to increase your brand's visibility? Engagement: Do you want to boost interactions such as likes, comments, and shares? Leads and Sales: Are you aiming to generate more leads or increase sales? Customer Loyalty: Is your focus on building a loyal customer base? Determine Analysis Focus: Performance Benchmarking: Do you want to compare your performance against competitors? Best Practices Identification: Are you looking to identify successful strategies used by competitors?

👉 Clearly outline your objectives before diving into analysis. 👉 Prioritize objectives based on their relevance to your business needs. 👉 Consider whether you aim for brand awareness, engagement, leads, sales, or loyalty. 👉 Align your metrics and tools with your goals for effective measurement.

When crafting a Share of Voice analysis, it's crucial to define your objectives clearly. Whether your aim is to boost brand awareness, drive lead generation, or achieve other strategic goals, having a clear target in mind is essential. This clarity enables you to identify the most relevant competitors to analyze (ideally 3), ensuring that your Share of Voice strategy aligns effectively with your overarching objectives.

First, be crystal clear on why you're analyzing competitors. Do you want more followers? traffic? Understanding? Define a tight goal upfront so you don't get lost in data. If it's to learn what engaging content looks like, focus only on those metrics. Building awareness instead? Benchmark branding metrics specifically. Match analysis tightly to goals for actionable insights. Stay simple - complexity confuses more than clarifies.

Don't forget to consider your audience when picking our competitors. It is not enough that you're in the same sector, you need to have cross-over of audience to make any sort of analysis truly worthwhile.

Many companies analyze their social media competitors on a monthly or quarterly basis. In faster-moving industries, though, some opt for weekly reviews to stay ahead of trends. The results are usually shared in reports or dashboards that cover important metrics like: Engagement: How many likes, comments, shares, and interactions competitors are getting. Content Performance: Which types of content—like videos, images, or stories—are working best for them. Follower Growth: How quickly their follower base is growing compared to yours. Ad Strategy: What kind of paid posts they’re running and how effective they seem to be. Sentiment: Whether their audience response is positive, negative, or neutral.

Researching and analyzing without the "why" is, to put it frankly, a waste of time. Start with some questions about your own social media presence, as well as your industry and audience then see what your competitors can help you answer.

Viele Konkurrenz-Analysen sind in Social Media überflüssig, da wichtige Zahlen nicht zur Verfügung stehen und viele Aktivitäten schlicht und einfach nicht sichtbar sind, weder gemessen noch ermittelt werden können. Aus meiner Sicht sind regelmässige Audits der eigenen Aktivitäten gegen die gesetzten Ziele sinnvoller. Die regelmässige externe Überprüfungen ist eine zielführendere Alternative. Durch sie kann die Wirksamkeit der Marketingstrategien und -taktiken kontinuierlich evaluieren und mit den festgelegten Zielen abgeglichen werden. Diese Audits ermöglichen es, die Effektivität der Massnahmen zu beurteilen, Verbesserungspotenziale zu identifizieren und entsprechende Anpassungen vorzunehmen.

- Select 3 main competitors not necessarily strong on market share and offerings but more importantly is that they have a strong social media strategy and online brand visibility. - Use social media and brand online tracking tools to create a reporting template that you are comfortable with. - Automat the report to be generated and shared with you every month comparing these brands to your brand. - I look into these reports on monthly basis and use them to optimize my yearly social media plan, strategy and monthly calendar.

👉 Select competitors based on relevance, influence, and similarity to your business. 👉 Utilize criteria like size, location, audience, products, or keywords to narrow down your list. 👉 Leverage social media listening tools to identify competitors followed or mentioned by your target audience. 👉 Focus on a manageable number of competitors to ensure in-depth analysis.

Rather than analyzing an exhaustive list, carefully select 1-3 brands solving similar needs as uniquely as you. Great competitors to study could be leading giants informing industry trends or disruptive ones. Benchmark yourself against those with audiences you're looking for. Focused scope provides clarity, but keep checking quarterly as leaders shift or new ones come in.

I continuously immerse myself in the dynamic world of financial services on social media. My focus extends beyond our immediate operations, with a keen eye on our top competitors and Fortune 500 companies. By honing in on those most relevant, influential, and similar to our niche, I employ strategic criteria such as size, location, audience, and products to narrow down the list. Utilizing advanced social media listening tools, I identify and track key players who resonate with our target audience. This approach enables me to stay abreast of how executives from Fortune 500 companies are shaping their online presence. By drawing insights from their strategies, I enhance our own executive communications.

La deuxième étape implique de choisir entre trois et cinq concurrents pour mener à bien cette analyse comparative concurrentielle.

Selecting competitors for analysis is not just about who you're up against but about understanding the landscape where your brand operates. I've learned the importance of focusing on competitors that share similarities with your brand in terms of audience, product, or market presence. Utilizing social media listening tools has been invaluable for me in identifying these key players by tracking mentions and follower overlaps, providing insights that directly inform strategy.

En mi vida pasada obtuvimos excelentes resultados haciendo análisis de competidores en redes sociales regularmente, se desarrollaban de manera general de forma mensual y uno profundo trimestralmente. Dar a conocer los resultados a través de informes detallados y presentaciones visuales, destacando métricas clave y recomendaciones para nuestra estrategia. El objetivo utilizar estos análisis para mejorar continuamente nuestra estrategia de redes sociales y mantenernos competitivos en el mercado

Every time a company or client requests my Digital Marketing services, I begin with a thorough diagnosis of their situation. I analyze their past actions, investments, and sector, identifying competitors and relevant players. Using market tools, I gather data to establish a benchmark and craft a personalized strategy aligned with their goals. I delve into industry data, web presence, market players, search performance, CPC, traffic analysis, and competitors' digital actions. This comprehensive approach enables effective strategy design for goal achievement.

There are a number of ways to select a peer group. The social way is to search on a hashtag such as #gold or #silver and then make a list of all the brand accounts that have used those hashtags. Of course, you can also check out an analyst report and refer to a comp table for a list that might be a lot closer to actual "competitors" and then you can cross-reference the names to whatever social platform you are reporting on. Our analytics reports feature as many as 20 peers that operate in the same sector as our clients. This data is broken down into several social metrics. This way, we can understand two important things: how we measure up across a range of metrics and whose performance is accelerating or slowing.

I usually choose competitors based on their audience size, location, and relevance to our target market. For example, while managing Meta platforms, I focus on competitors with similar digital offerings, ensuring I can learn from their strengths and identify gaps. I also use social media listening tools to monitor mentions and engagement levels, helping me spot who our audience interacts with the most.

👉 Summarize findings, highlighting strengths, weaknesses, and actionable recommendations. 👉 Visualize data using charts, graphs, tables, or screenshots for clarity. 👉 Regularly update reports based on goals and analysis frequency. 👉 Ensure reports are concise, relevant, and tailored to different stakeholders.

Analyze their data by putting your own social media analytics side by side. It helps put what you're doing well into focus and highlights where you need more effort.

Das Sammeln und Analysieren der richtigen Daten ist durchaus eine Herausforderungen. Will ich ein "faires" Benchmarking betreiben, sind viele der öffentlichen Zahlen wertlos, beispielsweise sagen Follower Zahlen, Anzahl Beiträge, etc. nichts über den Erfolg mit Social Media aus. Solange sehr viele Daten nicht öffentlich sichtbar sind (beispielsweise Werbeaktivitäten), ist keine "sinnvolle" Analyse möglich. In meinem Kundenkreis zähle ich Unternehmen, die sind auf vielen Social Media Kanälen nicht sehr öffentlich sichtbar aktiv, schalten aber monatlich einen sechsstelligen Euro-Betrag an Werbung und erzielen damit extrem gute Resultate. Von aussen kaum sichtbar - im Benchmark "unter ferner liefen".

La Meta Business Suite propose une analyse comparative concurrentielle, cependant, dans mes activités professionnelles, j'utilise Metricool, qui me permet d'effectuer cette analyse sur une plus large gamme de réseaux sociaux.

Data collection is something I do on a regular basis. I rely on Meta Insights, Google Analytics, and LinkedIn Analytics to evaluate both my own and competitors' performance. It's not just about the numbers but understanding the sentiment behind them. This helps me figure out which content resonates the most with the audience and what we can do better.

👉 Evaluate at least quarterly, adjusting frequency based on market changes or events. 👉 Monitor competitors' activities daily or weekly using social media listening tools or alerts. 👉 Stay agile in response to significant industry shifts or competitor strategies. 👉 Balance frequency with resource availability to ensure sustainable analysis practices.

Beyond creating a comprehensive report, consider these additional insights: 1. Highlight the metrics that define success for your brand. Spotlighting these KPIs can guide future strategies effectively. 2. Compare your findings not just internally but against industry benchmarks. Get a clearer picture of what's achievable and where you can innovate. 3. Extend your analysis beyond your direct competitors. Benchmark against industry leaders and innovative disruptors! 4. Recognize that social media is dynamic. Your action plans should be iterative and adaptable. Regularly revisit your strategies.

In der Praxis haben wir gute Erfahrungen mit Reporting-Tools gemacht (z.B. Reportgarden, PowerBI, etc.). Diese Tools erlauben eine konsistente Darstellung von Daten und erleichtern die Arbeit bei der regelmässigen Analyse massiv. Wichtig. - Klare Unterscheidung von KPI und Metriken der unterschiedlichen Plattformen. - Keine plattformübergreifende Vermischung von Metriken und KPI. - Berichte so aufbauen, dass sie empfängergerecht aufbereitet sind (anderer Bericht für das Management als für den Fachbereich).

In my capacity as the Senior Social Media Manager leading executive communications at LPL Financial, I maintain a dynamic PowerPoint presentation that serves as a comprehensive repository for our social media competitor analysis. This evolving document is regularly updated to reflect the latest insights, incorporating charts, graphs, tables, and relevant screenshots to visually convey the data. The report not only summarizes our findings but also meticulously highlights our strengths and weaknesses in the social media landscape. Actionable recommendations are a key focus, ensuring that the insights gleaned contribute directly to strategic decisions. The regular updates align with our goals and the frequency of analysis.

When reporting results, I keep it simple but insightful. I create reports that highlight key findings and suggest actionable steps. For instance, if I notice that a competitor is getting more engagement with video content, I recommend increasing our focus on video marketing. Visual aids like charts and screenshots make it easier for the team to grasp the analysis quickly.

In my view, monthly competitor analysis strikes the perfect balance, providing ample data for meaningful comparison without being overwhelming. Utilizing tools like Hootsuite for regular alerts ensures we stay informed and agile, making data-driven decisions to keep our strategy sharp and effective.

👉 Review your analysis at least once a quarter for ongoing insights and adjustments. 👉 Increase frequency during periods of significant market changes or competitor activity spikes. 👉 Utilize social media listening tools or alerts for real-time monitoring of competitor actions. 👉 Continuously reassess analysis frequency to maintain relevance and agility in your strategy.

Wenn klare "Analyse-Werte" gesetzt werden können, sollte eine regelmässige Betrachtung auf Monatsebene, mindestens aber quartalsweise angewandt werden. Unabhängig davon empfehle ich ein Konkurrenz-Monitoring auf Inhaltsebene, diese sollte regelmässiger oder in Echtzeit erfolgen.

I include a surface-level report of our top competitors monthly and then do a deep dive every six months. The combination of monthly updates and semi-annual in-depth reporting supports the long-term strategic planning process. It allows for the integration of short-term adjustments with a broader vision for maintaining competitiveness in the industry.

Don't focus too much time on analysing competitors. Of course it's essential to get a grasp of the market and the trends but don't put too much of your time and energy on that. Key principles on how often to conduct analysis: - The industry dynamics: is it a fast-growing industry with a lot of competitors? Are there frequent shifts in trends and consumer preferences? - Your business goals: are you aiming for rapid growth? Expansion into new markets? - Resource availability: what time, budget and tools do you have? - Social media platform changes: changes in social media algorithms, features or trends that can impact how competitors engage with their audience.

En tant que freelance, je réalise une analyse comparative concurrentielle chaque mois et je la présente aux clients dans mon rapport mensuel.

From my experience, conducting competitor analysis quarterly works well, but I also keep an eye on daily activities through social media alerts. This way, I'm not only tracking long-term trends but also catching any immediate shifts in the market that might need a faster response

👉 Tailor reports to suit different stakeholders, ensuring relevance and clarity. 👉 Choose appropriate formats such as PowerPoint slides, PDF documents, or online dashboards. 👉 Highlight key insights and actionable recommendations for easy understanding. 👉 Encourage dialogue and collaboration among stakeholders to facilitate informed decision-making.

In today's world, we have numerous tools for creating impactful graphics. However, I still advocate for the clearest and most direct approach to showcase results and facilitate easy comparisons. Excel, though straightforward, remains my preferred choice. Stay focused on your primary goal: providing a clear and swift understanding of where you stand in relation to competitors. Your focus should lie in visually discerning the differences in trends. Try to comprehend these data and decipher whether they result from your actions or your competitors'. Instead of prioritizing aesthetics, invest your time in gaining a deeper understanding and conveying it in simple terms to your management. Conclude with actionable next steps

I often create tailored reports depending on who’s receiving them. For my team, I keep it detailed, focusing on specific actions we can take. For higher-level stakeholders, I summarize the key takeaways in a more concise format, like a PDF or PowerPoint. The key is to present information in a way that’s relevant and easy to understand.

Competitiors are useful, but it is fairly rare that anyone has 100% the exact same audience as you - so you must be mindful of this when comparing yourself to others. yes someone may have more likes, better reach and higher engagement than you - but are they engaging with the right people or just looking for vanity metrics for the purpose of reporting back?

One thing I’ve learned is to never overlook the smaller players in the market. They often come up with innovative strategies that larger competitors might miss. I keep track of them too, as they can sometimes offer fresh insights on emerging trends or niche content.