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How can you use social media to track your competitors?

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Social media is not only a powerful tool for marketing your business, but also for monitoring your competitors. By tracking their activities, you can gain valuable insights into their strategies, strengths, weaknesses, and customer feedback. In this article, we will show you how to use social media to track your competitors and use the information to improve your own business performance.

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Akshat Kharbanda

Bridging Global Markets through Strategy | IO Business Graduate at Novo Nordisk | INSEAD

1 Choose your competitors

The first step is to identify who your main competitors are and what social media platforms they use. You can start by searching for keywords related to your industry, niche, or location, and see who ranks high in the results. You can also use tools like BuzzSumo or Social Blade to find the most popular or influential accounts in your field. Once you have a list of potential competitors, narrow it down to the ones that are most relevant, similar, or direct to your business.

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Akshat Kharbanda

Bridging Global Markets through Strategy | IO Business Graduate at Novo Nordisk | INSEAD
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On platforms like X/Twitter, create lists or groups specifically for your competitors. This helps you keep their updates separate from your main feed, making it easier to focus on their content.

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2 Analyze their content

The next step is to analyze the type, quality, and frequency of the content your competitors post on social media. You can use tools like Sprout Social or Hootsuite to monitor their posts, stories, reels, live videos, or podcasts across different platforms. You can also check their hashtags, keywords, captions, calls to action, and links. By doing this, you can learn what kind of content resonates with their audience, what topics they cover, what tone they use, and what gaps they leave.

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Akshat Kharbanda

Bridging Global Markets through Strategy | IO Business Graduate at Novo Nordisk | INSEAD
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Look at the type of content they share (e.g., articles, videos, infographics), posting frequency, and engagement levels (likes, shares, comments). Track relevant industry-specific hashtags, keywords, or branded terms. If they ads, analyze their content, targeting options, and the platforms they use.

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3 Measure their engagement

The third step is to measure how well your competitors engage with their followers and customers on social media. You can use tools like Socialbakers or Rival IQ to compare their metrics, such as likes, comments, shares, views, clicks, impressions, reach, or sentiment. You can also look at their reviews, ratings, testimonials, or user-generated content. By doing this, you can assess their strengths and weaknesses, their customer satisfaction and loyalty, and their reputation and influence.

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4 Identify their opportunities

The fourth step is to identify the opportunities that your competitors are missing or creating on social media. You can use tools like Mention or Brandwatch to track their mentions, tags, or keywords across the web and see what people are saying about them. You can also use tools like SEMrush or Moz to analyze their SEO and PPC performance and see what keywords they rank for or bid on. By doing this, you can discover their pain points, challenges, threats, or trends that affect their business.

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5 Apply your findings

The final step is to apply your findings to your own social media strategy and improve your competitive advantage. You can use tools like CoSchedule or Buffer to plan, create, and schedule your content based on your analysis. You can also use tools like HubSpot or Salesforce to integrate your social media data with your CRM and sales funnel. By doing this, you can optimize your content, engagement, and conversions, and differentiate yourself from your competitors.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Akshat Kharbanda

Bridging Global Markets through Strategy | IO Business Graduate at Novo Nordisk | INSEAD
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Monitor customer comments, reviews, and complaints on your competitors' social media profiles. This can reveal areas where they excel or fall short in customer satisfaction.

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How can you use social media to track your competitors?

1

2

3

4

5

6

1 Choose your competitors

2 Analyze their content

3 Measure their engagement

4 Identify their opportunities

5 Apply your findings

6 Here’s what else to consider

Business Management

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How can you use social media to track your competitors?

1

2

3

4

5

6

1 Choose your competitors

2 Analyze their content

3 Measure their engagement

4 Identify their opportunities

5 Apply your findings

6 Here’s what else to consider

Business Management

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