As a brand, you are never operating in a vacuum. No matter what niche you specialize in and no matter what your USP, you will always have competitors. Keeping an eye on your competitors will help you build a well-informed social media strategy for your business.
What kind of content are your competitors posting?
What kind of response is their content receiving?
How is your social media performance as compared to your competitors?
This is where the competition analysis tool comes in handy.
But before we talk about the competition analysis tools, let’s know a bit about competitor analysis.
What Is Competitor Analysis?
Competitor analysis is all about evaluating your industry competitors. The insights you gain from this analysis help you frame effective strategies to outsmart your rivals! It is more like monitoring the activities of your competitors to see where your brand strategy needs to improve and where you are faring better.
The Need For Competitor Analysis Tools
These tools help you understand your position against your competitors in the industry. Based on insights derived from this tool, you can build effective social media strategies for your brand. Use the intelligence attained with the competition analysis tools to understand where you stand with respect to your competitors.
We have compiled a set of competition analysis tools you can use to watch your competitors’ social media performance. We’ll quickly take you through these competition tracking tools and how you can use them to ace your social media strategy.
Here’s a quick round-up of the top social media competition tracking tools-
1. Unbox Social
Unbox Social is a multi-faceted tool, which offers many different features, including the competition tracking feature. With the help of the competition tracking feature, you can track your competitors’ activity, and know what kind of content that is working in the industry.
You can also capture your share of voice against that of your competitors in the industry with the help of Unbox Social. The tool allows you to monitor your performance against that of your competitors. It also helps you capture the interactions on your content against that of your competitors.
To dig a little deeper, with Unbox Social, you will get access to insights on what the audiences are saying about your competitors. The tool will also help you get an idea about the key themes around your competitors’ conversations. Further, you can find out which of your competitors’ posts are receiving a good response and build a content strategy accordingly.
2. Buzz Sumo
Buzz Sumo also offers a competition research tool. This competition tracking tool lets you look at your competitors’ most shared content by simply keying in the competitor domain. It also helps analyze what is working for them with the help of filters such as ‘content format’ and ‘networks used to get traffic’. The Domain Comparison and Content Analysis help you
You can also jump into who all are sharing your competitors’ content as well as alerts for competitor mentions. You can look into what your competitors are doing with the help of Buzz Sumo.
Ahrefs comes with a range of features and tools that help you benchmark your SEO strategy against competitors’. It comes with a range of features and tools that help you make the most of your strategy.
Ahrefs offers tools and features such as Keyword Explorer, Keyword Generator, YouTube Keyword tool, Keyword rank checker, and SEO toolbar all of which help you check any URL’s top organic keywords. Apart from that, with Ahrefs, you can gain insights on the traffic that your competitors are generating in the process.
Alexa allows you to conduct Competitive Web Analysis. With the help of this tool, you can identify any gaps in your strategy and find a competitive edge for your brand.
The Competitive Web Analysis helps you find out ways to outperform your competition in terms of traffic, backlinks, keywords, and much more. Benchmark your site against your competitors’ and know whether your strategy is bringing you any results or not.
With the Competitive Web Analysis tool, you can always stay on top of your game. Access to important insights about competitors’ websites can help you develop an effective web marketing strategy.
SimilarWeb is another Competition Analysis tool you can consider using. You can use SimilarWeb to gain comprehensive insights about your competition in the digital media marketing arena.
With the help of Competitive Benchmarking that the tool offers, you can compare the performance on your website as well as your apps to that of your competitors’. Further, you can monitor competitors’ growth and market share over time, using this competition analysis tool.
As a part of your digital marketing strategy, not only should your website and social media channels be polished and well-refined, your email marketing strategy should also be top-notch.
With the help of Mailcharts, you can gain insights about competitors’ email marketing strategy. Using the insights and intelligence derived from this competition analysis tool, you can plan out your future email marketing campaigns and promotions more effectively.
You can also generate competitive reports to dig deeper and gain clarity about your email campaigns. With the help of in-depth competitor data, you can be ahead of your competitors and create effective email marketing campaigns.
Phlanx is a competitor tracking tool that helps you evaluate the activeness of a particular brand on social media platforms. Currently, the tool is available for Instagram, YouTube, Twitter, and Twitch.
The tool helps you compare the engagement rate of different brands for the stated platforms. The tool compares the content of each brand and gives you its engagement graph.
Dedicated solely to Twitter, FollowerWonk is a must-have tool for brands that mainly want to focus on their Twitter competitors. This tool allows you to compare Twitter accounts, which can also help you discover the strategies your competitors are using.
Moreover, FollowerWonk also allows you to track follower demographics to help you get a better understanding of your audience. With the help of FollowerWonk, you can also get an insight into what’s trending on the platform and what your competitors are tweeting about.
Brand managers often underestimate email marketing but this marketing technique can also help improve your brand presence. Owletter is a competitor analysis tool that is focused on the comparison of email marketing activities.
The tool studies and analyses the email marketing activities of your competitors and gives you intrinsic insights like the frequency of their activities, trends in email marketing, and the best spot to implement your email marketing plan.
Not everything about competition analysis is solely based on the number of likes and comments, it is also necessary to see the keyword performance.
Spyfu is a tool that allows you to conduct SEO competitor analysis. It helps you see who are your closest competitors and gives you insights on the keywords that are fetching them the clicks!
This tool is quite useful when it comes to planning an effective content strategy.
PRO TIP- Things To Keep In Mind When Starting With Competitor Analysis
- Know who your competitors are and then proceed
- Keep in mind the strengths and weaknesses of your own brand (This will help you compare smartly)
- Check the competitors’ social media presence
- Don’t forget to analyse the reviews and comments your competitors get
- Follow the trends but keep your brand voice alive
- Learn from your competitors’ mistakes
SUMMING IT UP
As a brand, you are never operating in a vacuum. The digital, as well as social media channels, are brimming with competition. You need to constantly track your competitors’ activities across platforms to stay on top of your game. Here are 6 competition tracking tools you can rely on-
- Unbox Social to get an in-depth analysis of your competitors’ activities across social media platforms along with audience insights about the same.
- Buzz Sumo to know what your competitors are up to, on digital and social platforms
- Ahrefs to benchmark your SEO strategy against that of your competitors
- Alexa to conduct an analysis of your website against that of your competitors
- SimilarWeb to benchmark your website and app performance against that of your competitors’
- Mailcharts to gain insights into competitors’ email marketing data
- Phlanx to measure the activeness of a brand and compare engagement rate
- Followerwonk to compare brands on Twitter
- Owletter to analyse the competitors’ email marketing strategies
- Spyfu to get insights on competitors’ keyword strategy