Knowing about industry competitors can help brands in several ways. To stay ahead of the competition on social media, it is necessary to know what your competitors are doing in terms of content marketing, audience segmentation, strategizing, and lots more. All of this comes under the bracket of social media competitor analysis.
Analyzing your competitors on social media is not just about finding out the flaws in their strategies, it also helps you detect the strengths of your competitors and opportunities for growth for your business.
Competitor tracking can give you insights into what is going on in your industry as a whole. This includes trends, usage of different social media platforms by your competitors, data on content formats that are working well for the niche, and so on.
Initially, brand marketers used to simply observe their competitors’ posts on social media platforms. This gave them a hint of what kind of strategy they are opting for. But with the advent of social media competitive analysis tools, competitor analytics has become a specialized process. Marketers can now get in-depth data on their industry competitors without any errors.
In this blog, we will help you with a list of social media competitor analysis tools for 2022. But before we begin with the list of tools, here is a short snippet on conducting social media competitor analysis.
Basic Points To Remember When Conducting Social Media Competitor Analysis
1. Identify your social media competitors
2. Identify the social media platforms your competitors are active on
3. Know what they are posting about
4. Compare your content strategy with their best-performing posts
5. Evaluate the posting frequency
6. Measure the audience sentiment
7. Evaluate the overall performance of competing brands to know where you need to improve
Keep in mind these above-mentioned pointers when you monitor competitors on social media. Let’s now check the competitor analysis tools you can opt for.
Must-Have Social Media Competitive Analysis Tools for 2022
1. Unbox Social
The Unbox Social tool has a competition tracking feature that is fully equipped to give you insights into your social media competitors. The competitor insights are available for four major social media platforms namely Facebook, Twitter, Instagram, and YouTube. Social media competitor monitoring with Unbox Social will help you with data on Share of Voice, competitors’ benchmarking, brand score, audience sentiment, and competitors’ content performance.
The Unbox Social tool is easy to use and is apt for all kinds of industries. The tool’s competition tracking feature will help you decode what your competitors are doing on specific social media platforms and how you can improve your strategies to achieve desired results.
2. Sprout Social
Sprout Social offers social media competitor analysis features to help you benchmark your performance against your industry competitors. The tool provides historical data to help you take rational actions for your brand strategies and campaigns. The reports provided by the tool will help you detect what’s working best for your niche.
3. Serpstat
Serpstat is slightly different from social media competitor analysis tools because it offers competitor analysis features for PPC and SEO. The tool gives you competitors’ data for their source of traffic too. Brands and businesses that are focused on SEO rankings and paid campaigns can opt for this tool.
4. Owletter
Email marketing has come a long way. Brands that need to connect with the audiences need to be active with email marketing too. Owletter helps with competitor monitoring for your competitors’ emails. The tool will give you an idea of what your competitors are doing in terms of email strategy.
5. WhatRunsWhere
Ads are crucial for several reasons and that includes brand marketing as well. The tool helps you build detailed ad intelligence insights that will help you with digital ad strategies. The tool will give you information about traffic sources, networks, and ad formats. Brands and businesses that spend on ads can take advantage of this tool to get the most out of their ad spends.
6. Social Status
Social Status helps you benchmark your performance against your competitors. The tool helps you with competitor analytics by giving you data on reaction sentiment, competitor content performance, and so on. These insights will help you detect what is working well for your brand and niche.
7. Sociality.io
This particular social media competitor monitoring tool helps you with competitor page analytics, brand position, and evaluation of competitors’ content performance on different social media platforms. The tool provides data for Facebook, Instagram, Twitter, and YouTube.
8. Socialinsider
With the help of Socialinsider, brands and businesses can analyze and compare with their competitors. The tool provides insightful reports that can help you make effective decisions that will give you the most out of your strategies. The tool offers its analytics and competition features for several social media platforms like Facebook, Twitter, Instagram, YouTube, LinkedIn, and TikTok.
9. The Search Monitor
The Search Monitor helps brands that want to dominate the market by maximizing their search volume on search engines. The tool helps you with competitors’ ads monitoring, market share measurement, and competitor keyword crawling to help you race ahead of competitors on search engines.
10. Phlanx
Phlanx is a social media competitor analysis tool that helps with competitor analytics and monitoring. The tool offers competitive analysis features for Twitter, YouTube, Instagram, and Twitch.
Social media competitive analysis is required for all brands that are active on social media. Selecting the right tool is quite important when it comes to competitor monitoring and analytics. The Unbox Social tool is apt for all your social media marketing woes because it also offers influencer marketing and social media analytics apart from competition tracking. Take the tool’s free trial now to race ahead of your competitors.
