Social Media Competitor Analysis

08 December 2022

It’s essential for your marketing strategy to carry out a good study about your competitors on social networks: therefore, with help from Metricool, you can accomplish a social media competitor analysis.

If you are aware of what your competitors are doing, it will help you to make smarter decisions, check which strategies work best and discard those ones that fail.

Invest time in analyzing your competitors and study which strategies to use.

Why is so important to have a social media competitor analysis?

  • To get a general view to understand what’s happening in your sector on social networks.
  • To save time in your SWOT analysis to understand the strengths, weaknesses, opportunities and threats related to your competitors.
  • It helps you to develop new ideas. Analyzing your competitors is a good source to find some inspiration.
  • To thoroughly analyze your own strategy. It will teach you what you do well or bad in relation to your competitors.
  • Advance your competitors when you discover the areas that they haven’t properly covered.
  • To better get to know your customers, their habits and their expectations.
  • To avoid your strategy getting stuck and improve your business’s position.

How to prepare a competitive analysis on social media

Did you find out who your competitors are? If the answer is no, follow these tips to discover your real competition.

Track hashtags related to your brand or sector. It’s a very effective way to discover which users talk about your sector and the brands that are focused on your same area. 

▶️ Find how to measure hashtags here ◀️

Find the best positioned brands on Google

Find the keywords related to your business or project that are used in Google. Select the results that appear at the top and look for them on social networks.

Listen to your followers

People use social networks to communicate and chat. Listen to them and learn what and who they are talking about. You will obtain very valuable information.

Look at your main competitors

Understand who your main competitors are and analyze the strategies that they use.

💡 TIP

Once you have elaborated a list with all your competitors, you should save the information in an Excel file to keep it well organized.

How to conduct a social media competitor analysis with Metricool

So now the question is how can you best analyze your competition?

Metricool makes it easy to benchmark your competitors!

With Metricool’s feature you can benchmark and analyze your competitors on the three main social platforms: Twitter, Instagram and Facebook.

📌 DOWNLOAD THE DATA IN CSV 📌

(Premium account feature)

All the information displayed in the competitor’s chart can be downloaded in a CSV file when you click Download Table, next to the option to add new competitors at the beginning of the table.

This lets you manage the data as you like: You can include the info in an Excel file, store it during months to analyze differences, or add columns with any other type of information you want to include.

With both free and premium plans, you can click the graph icon at the end of each row that corresponds to each competitor. Here you will see the information in more detail. When you click the icon you can see an evolution graph and other valuable data.

Remember that this social media competitor analysis can be carried out on Twitter, Facebook, and Instagram.

Twitter

You have two options on Twitter:

  1. In the Real Time section, you can add a competitor and directly compare the main metrics with your brand
  2. In the Analytics section, you can examine the main metrics of your competitors in a table

Find a most comprehensive post about how to carry out a benchmarking on Twitter.

In this table, you can check how the digital strategies of your competitors are working. You can organize the information by metrics. In the following image the information has been ordered by the number of retweets:

These are the metrics that you can find in the table:

  • Followers: number of people who follow your competitors
  • Following: the number of accounts that your competitors are following
  • Tweets: number of tweets in a specific period of time
  • Likes: number of likes received by publications
  • Retweets: number of reposts

Instagram

If you want to carry out a benchmarking on Instagram with Metricool, you first must have an Instagram business account. 

⚡️ Please, click HERE to find all the information you need to successfully analyze your competitors on Instagram.

In the section Analytics, you will obtain the main metrics of your competitors gathered in a table at the end. If you click the icon represented by a bar chart, you will obtain more detailed information about growth, interactions and posts.

analytics instagram metricool

These are the metrics that you will find:

  • Followers: How many users follow your competitors.
  • Posts: Number of posts published by your competitors in the period of time selected.
  • Likes: The number of likes obtained.
  • Comments: The total number of comments in the period selected.
  • Engagement: Instagram Engagement Rate.

REMEMBER

The free account has some restrictions: You can only add 5 competitors, you can’t delete them or download the information in a CSV file.

With a Premium account you will be able to add about 100 competitors and delete them whenever you want.

Facebook

You can conduct a social media competitor analysis on Facebook too.

These are the metrics that will be shown at the end of the section Analytics for Facebook:

  • Likes in page: number of likes received on your competitor’s page.
  • Posts: number of publications.
  • Reactions: number of reactions received on posts.
  • Comments: average number of comments.
  • Shared: how many times posts are shared.
  • Engagement: more information about the engagement rate on Facebook here
social media competitor analysis facebook

Overall, this is all the relevant information you need to know to start analyzing your competitors. Apart from downloading this info in a CSV file you can include it in your social media report. Start this new adventure and analyze your competitors’ strategies! 

YouTube

If your competition is also on YouTube you can analyze their channels with the premium version of Metricool.

Add up to 10 channels to the list of competitors and analyze them in depth:

⚡️ Sort the table by the metric you are interested in.
⚡️ Download all the information in CSV format.
⚡️ Expand the analysis further by clicking on the icon on the left.

social media competitor analysis youtube

Twitch

Twitch is an increasingly used platform and is growing like foam so it,s necessary include a social media competitor analysis on your strategy.

Want to know the performance and metrics of other twitchers?

Also, you can do it with Metricool and have a lot of information about their metrics.

If you need more information about social media strategy.

Do you have any other question about competitor analyses on social media? Leave us a comment and we will answer all your doubts.

Sara Martín Sara Martín , 08 December 2022
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