Social media is a digital space of its own that requires its own approach and strategy. Developing an effective strategy can be tricky, but you don’t have to reinvent the wheel: you can find plenty of good ideas simply by looking at your rivals’ social media accounts.
Here's your to-do list:
Find out who is active on social networks.
Determine which platforms it is using.
See if their audience has increased or decreased.
Find out what type of content they have posted (are there any features of our advertising database non-promotional posts?) and how often.
Find out if there is something new in your audience engagement and communication style.
Social Media Tracker will help you with this part of your competitor analysis.
Insight into your competition's social activity
6. Review the results with your goals and strategy in mind
After reviewing the key points listed above to do a competitor analysis, you now need to make sense of the results.
Evaluate how your competitors' actions and your marketing ideas relate to your initial strategy.
You may find that a long-term campaign you started six months ago doesn’t meet current market trends and needs. It’s better to find out now than in another six months.
Filter out all ideas that don't fit your company's offering, positioning, end goals, and strategy.