Your competitors are already using social media, and that means you can learn from what they’re doing. A competitive analysis allows you to understand who the competition is and what they’re doing well (and not so well). You’ll get a good sense of what’s expected in your industry, which will help you set social media targets of your own. It will also help you spot opportunities.
Maybe one of your competitors is dominant on Facebook, for example, but has put little effort into Twitter or Instagram. You might want to focus on the networks where your audience is underserved, rather than trying to win fans away from a dominant player.
Do searches of the competition’s company name, account handles, and other relevant keywords on social media. Find out what they’re sharing and what other people are saying about them. As you track, you may notice shifts in the way channels are used.
Or, you might spot a specific post or campaign that really hits the mark—or totally bombs. Use this kind of intel to improve your own social media marketing strategy.
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