Social media puts an incredible amount of competitive data at your fingertips. We’ve talked before about different types of competitive analysis and have built reports that help you benchmark engagement across channels, measure share of voice, and analyze your competitors content from all angles. We often hear requests for more on this topic – more tips, more tools, and more ways to put competitive data to use. It’s an important part of any social media measurement program, but not always obvious what framework to apply or how to get started.
This guide outlines a framework for competitive analysis on social media with a focus on Facebook. We walk through the basic tactics and questions to ask around three related by distinct activities: 1. Competitive Benchmark; 2. Competitive Analysis; 3. Competitive Insights. We use real data from leading retail brands to show how this framework can be applied for your industry.
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