How to conduct a Facebook competitor analysis

[shaownhasan]

1. Identify your Facebook competitors
Before conducting your competitive analysis, narrow in on usa business email list three to four key competitors on Facebook. Tracking every single competitor big and small can quickly become an unwieldy task. Instead, aim for an even representation of direct, indirect and aspirational competitors.

This is a good time to talk to your sales team and customers about which competitors helped them make their decisions. This will help you understand your position in the market and improve your approach.

2. Gather your data
Once you’ve confirmed your target competitors, it’s time to gather your data. While this process can be time-consuming, especially in competitive industries, thorough insights lead to more informed strategies.

Use a social media analytics tool to streamline your approach to tracking competitor metrics. If you’re using Sprout, you can even dig into data at the post level to figure out what content formats and themes are resonating most with the audiences of individual competitors.

Remember, this isn’t a one-time task. To stay ahead, it’s crucial to update your analysis quarterly or biannually, aligning with your overall social media reporting.

3. Analyze your competitors Facebook presence
Competitive intelligence involves both quantitative and qualitative insights. To gain the most comprehensive understanding of your competitors’ social channels, you need to explore how they present themselves across each platform.