Are you a social media influencer? Well, you must be trying to keep up with your rivals. Monitoring your rivals on social media may give you a wealth of information that goes far beyond simple statistics, like who has more followers on which site. There are many different ways you may learn more about how their firm is doing, which you can then use to your advantage.

Most information can be obtained without using pricey instruments, and you can hire app developers in India. Everything you require to know will be available to you via native tools and manual analyses of the pages of your competitors.

What is meant by social media competitive analysis?

A competitive analysis compares your capabilities and shortcomings to those of your rivals to see how they compare to your own. By comparing your performance to that of the top players in your sector, you can spot areas for improvement and tactics that aren’t working as effectively as they could.

  1. You will benefit specifically from a competitive analysis of social media:
  2. Find out who your social media rivals are.
  3. Know which social media sites they use and how they use those sites
  4. Recognize the effectiveness of their social media approach.
  5. Compare your social media performance to that of the opposition.
  6. Determine the societal threats to your company.
  7. Look for weaknesses in your social media marketing approach.

How to conduct a social networking competitor analysis?

  • Find out who your social media rivals are.
When determining your brand’s primary social media rivals, it’s not enough to consider the most well-known companies in your industry. Find out which companies in your industry actively use social media and make it a key component of their marketing plans. These brands will provide you with the most insightful benchmarking data on which you should focus your competitor study. Pick five rivals to concentrate on, if possible.
  • What are their customer feedbacks?
Customers have a lot to say, and it’s easy to believe that the only way to hear them is by reading reviews if you aren’t the one who receives an inbox full of their ideas. While reading online reviews—both on and off Facebook—may be helpful, it can be even more beneficial to focus on what people are saying about a brand than about it. Get on Twitter and Instagram and search for the brand’s name as a hashtag and the branded hashtags (if different). You’re more likely to see positive user-generated material on Instagram. Examine the strategies your rivals may be utilizing to boost user-generated content (UGC); do they contain any specific instructions, such as requests for users to submit their “unboxings,” in which they describe the experience of opening their packages? Look at your competitors’ performance to see if they are getting users to share UGC. Specific instructions improve the likelihood of users doing so. This will usually be in the bio of the majority of brands.

Determine which social media platforms receive the greatest engagement from users.

Finding where your clients are on social media is a crucial component of any social media plan. It makes no sense to invest a lot of money on a platform your target market seldom utilizes. Look to observe where your rivals are present and what outcomes they achieve. It’s probably not you but the users who are the defining element if none of the firms in your field is succeeding on a specific platform.
  • Data Collection
You might want to hire app developers in India and employ third-party competitor analysis tools because compiling all the data can take a lot of time. They are readily available, and which one you pick will depend on the networks you’re investigating and the tool’s capabilities. An effective auditing tool should speed up the process compared to manually entering the data, provide extra details like calculating engagement rates, and show the data in simple reports.
  • Include the most recent information when monitoring social media
You must regularly check your social media competition analysis to maintain it up to date. Include this consistently in your reporting and evaluation procedures, whether biannual or annual. This implies that you’ll require a steady stream of current knowledge. If you have a solid social media monitoring strategy in place, you may be able to leverage that real-time knowledge in your later study. This technique is very useful for identifying potential possibilities and dangers. The tools you can use for social media monitoring are discussed below. It comes down to keeping an eye on social media talks concerning your company, your rivals, and your sector.
  • Their Standards of Dealing With Customers
Although every company says they care deeply about their customers’ satisfaction, few live up to their claims. You want to know if your rivals are providing subpar customer service so that you may emphasize the fact that you consistently provide excellent customer service. You can witness this by using social media. Look at a company’s social media pages to discover how they engage with their followers. Is their Facebook response rate underwhelming? Look at their Tweets and other users’ public posts to see if they rapidly reply to and resolve user issues. Do they solely respond to complaints while disregarding all other attempts at communication, or vice versa? Conclusion Marketers will always need to conduct competitive research. If you know where to look, you may learn a lot about a company’s operations, including details they might wish to keep private and evaluating how your social media material stacks up against theirs. Competitor analysis on social media can help you achieve both. In many circumstances, the best way you can hire app developers in India to outperform your competition is to identify what they’re doing and either make sure you’re doing something different or performing better. Author Bio: Prashant Pujara is the CEO of MultiQoS Technologies, top Flutter App Development Company in India with experience in on demand Marketplace App Development Solutions where you can Hire App Developers In India for your business. He oversees the company’s commercial and delivery operations, as well as strategic planning and strategy.

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