How to Track Your Competitors on Facebook
Jan 16, 2020 ● 3 min read
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 most favorite place brands turn to, including your competitors.
But why is it so important to track your competitors?
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, 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 marketing strategy and stay on top.
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 others’ mistakes. By knowing the mistakes of your competitors, you’ll be able to prevent making them and improve your marketing strategy.
- Knowing your competitors’ Facebook ads, their customers’ reaction and the requests and problems they have is valuable. This information will help you refine your product and adjust your customer support strategy that will help you keep ahead of your competitors.
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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 Facebook competitor analysis tools come in. They can do all the legwork for you by providing real insights on your competitors’ actions as well as their impacts. The chances are, your competitors use some of these tools to analyze their social media and keep an eye on you.
This tool 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, demographics, sentiment, and geographies.
- Comparing multiple brands to evaluate your competitors
- Creating viral content based on your audience’s activity
- Finding emerging trends to improve your content
Sprout Social is brilliant for competitive analysis. It helps you understand the performance of your competitors on Facebook from multiple angles. The 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 people feel about your competitor’s services or products, and in that way, adjust your product or service and differentiate it from them.
This tool allows you to analyze any Facebook page, so you can spy on your competitors for free. It shows the average number of comments, shares, 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.
Scoreboard Social is an app that provides a competitive snapshot of how your Facebook page is performing compared to others in the same industry. It allows you to see how you’re doing in comparison to industry leaders, big-name brands, and overall competitors.
The app can send you a report in your inbox every day, week, month, or a 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 analysis 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, but also 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 a number of Facebook post and campaign metrics; for ads, organic posts, and boosted.
- It monitors and compares the performance of ads and organic content, including engagement, reach, clicks, impressions, referral traffic, conversions, etc.
- It compares your Facebook ad spend with competition and optimizes it.
- It helps you 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 marketing strategy, run your analysis efficiently, and focus more on actual marketing.