Facebook competitor analysis is a must if you are a marketer, no matter the industry you’re in. As the world’s biggest social media network, Facebook continues to be the favorite place brands turn to, including your competitors.
How to Track Competitors on Facebook ( +5 Tools You Need)
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Why tracking competitors on Facebook is important
Keeping an eye on your Facebook competitors (companies in the same industry as you offering a similar service or product) is crucial for your social media status and page likes, especially if you want to lead or at least avoid being far behind.
Spying on your competitors will inform you what they do, what they are successful at, what their mistakes are that you need to avoid, and how to improve your social media marketing strategy and stay on top.
As well do not forget that your social media platform data must be collected and analyzed wisely too. With Whatagraph live reports, you may easily track your progress.
Here are a few reasons to track competitors on Facebook:
Tracking your own KPIs is important, but knowing where your competitors are and how they are advancing can help you see whether your progress is mediocre, great, or bad.
It’s always better to learn from other’s mistakes. By knowing the mistakes of your competitors, you’ll be able to prevent making them and improve your marketing strategy.
Knowing your competitor's Facebook ads, their customer's reactions, and the requests and problems they have is valuable. This information will help you benchmark your performance against the competitors and refine your product and adjust your customer support strategy to keep ahead of your competitors.
Top Facebook Competitor Analysis Tools
While tracking your competitors and comparing your results to theirs is crucial for your marketing strategy, you shouldn’t spend so much valuable time on this and instead focus on actual marketing.
That’s where social media competitor analysis and monitoring tools come in. They can do all the legwork for you by providing real insights into your competitors’ Facebook pages as well as their impacts. The chances are, your competitors use some of these tools to analyze their social media channels and keep an eye on you. This way you can hijack a portion of your competitor’s audience.
1. Quick Search
Quick Search provides an instant overview of your Facebook page and that of your competitors. It allows you to dive deep into their Facebook pages and use their strengths and weaknesses to refine your marketing strategy. Some of its useful features include:
- A quick overview of the most important KPIs, such as volume, engagement rate, demographics, sentiment, and geographies.
- Comparing multiple brands to evaluate your competitor's posts
- Creating viral content based on your audience’s activity
- Finding emerging trends to improve your content strategy
2. Sprout Social
Sprout Social is brilliant for competitive analysis. It helps you understand the performance of your competitors on Facebook from multiple angles. The analytics tool tracks important social metrics across Facebook and compares them against your profile.
It gives you a sneak peek at your competitor’s content and compares your growth against the average of your competitor’s profiles. With Sprout Social, you can discover how your target audience feels about your competitor’s services or products, and in that way, adjust your product or service and differentiate it from theirs.
This tool allows you to analyze any Facebook page so that you can spy on your competitors’ social networks for free. It shows the average number of comments, shares, types of content, and likes per post, the top posts in a specific period, post types, as well as the total number of commenters, authors, posts, and likes.
Sociograph.io can show you statistics from the first day the page was created. It’s a great tool for tracking your competitors on Facebook.
4. Scoreboard Social
Scoreboard Social is an app that provides a competitive snapshot of how your Facebook page performs compared to others in the same industry. It allows you to see how you’re doing compared to industry leaders, big-name brands, and overall competitors.
The app can send you a report template in your inbox every day, week, month, or quarter. The report includes growth, ranking, and engagement metrics, users that engage with your content, and trends.
The 30-day free trial is enough to see the fantastic competitor to Facebook analytics that will help you see what content is working for you and your competitors.
Another great tool for Facebook competitor analysis is TrackMaven. It gathers data from Facebook and other sources like traffic, content marketing, SEO results, Alexa, and Twitter. With this tool, you can learn your competitor’s actions and which of them is working.
TrackMaven tracks the number of Facebook posts and campaign metrics; for ads, number of posts, posting frequency, organic posts, and boosted.
It monitors and compares the performance of ads and organic content in real time, including engagement, reach, clicks, impressions, referral traffic, conversions, etc.
It compares your Facebook ad spend with the competition and optimizes it.
It helps you collect data to optimize your content according to an increase in donations, conversions, and traffic.
Using the right tools for Facebook competitor analysis will help you fine-tune your Facebook marketing strategy, run your social media analytics efficiently, and focus more on actual digital marketing.
If you're looking for a reliable way to report on your Facebook account performance, make sure to try Whatagraph! Just sign up for your free trial and try some of our report templates to get started in minutes!
Published on Jan 14 2020
WRITTEN BYKrystyna Krajevskaja
Krystyna believes optimizing the way you report data is the key to a good marketing strategy. A seasoned social media manager with experience in B2B companies, she loves to identify and share new business opportunities.
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