Social media is a rich, vast landscape for businesses in this post-COVID world. Today, 4.55 billion people around the world use social media, which is more than 57% of the world’s population! Considering these numbers, it makes perfect sense for companies to focus on aggressive social media campaigns to ensure their products and services are seen globally.
With the added pressure of staying relevant and outsmarting their competitors, businesses need insightful social media monitoring services to help them ace their strategies. Using competitive analysis tools will help you stay ahead of the competition as you will have comprehensive data on how you’re faring against the competition, potential threats you might need to navigate, and more.
This blog post will introduce the best social media competitive analysis tools to you, but before we delve into the tools, let’s explore what competitive analysis is and why you need to perform it!
What Is Social Media Competitor Analysis and Why Perform It
As suggested by the name, competitive analysis is when you analyze your performance against that of the pros in your industry. When it comes to social media marketing analysis, performing a comprehensive one can enable you to:
· Identify your competitors
· Figure out which social media platforms they use and how they’re using them,
· Understand their social media strategy
· Identify threats to your business
· Pinpoint your lacking areas
· Discover how you can overcome your weaknesses
Performing a competitor analysis on social media will give you insights into how they thrive on different social media platforms. It will also enable you to generate key insights into your performance, such as your engagement rates. Moreover, comprehensive audience insights will help you figure out the best time to post on social media for maximum engagement, potential pain points, original, hard-hitting content ideas, audience communication, and so much more!
Now that you know why performing a competitive analysis is essential, here are seven top social media monitoring tools to help you perform a comprehensive competitor analysis in 2021:
7 Best Social Media Monitoring Tools for Generating Competitor Analysis
Here are the seven best social media competitor analysis and monitoring tools:
1. Falcon.io
Falcon.io is a cloud-based social media analytic tool that helps generate key insights related to social media engagement, customer data management, social media listening, publishing content, and more. It’s a versatile tool for digital agencies and entrepreneurs with auto-queue posting, visual planning, content calendar, and more features.
You can use it across multiple platforms, including Instagram, YouTube, Facebook, Twitter, and more. Falcon.io has a campaign builder that allows convenient page creations with pre-designed templates. The software offers plenty of support via online tutorials, guides, portal ticket submission, and email to customer service.
2. Hootsuite
Hootsuite Streams is a powerful competitor analysis tool that has been around since 2008. It enables you to track your competitors and generate helpful insights. It also allows you to track keywords and hashtags across multiple social media platforms from its easy-to-navigate dashboard.
This tool is known for content curation, bulk scheduling, monitoring, and more. It also benefits from a longstanding positive reputation. You can use this platform to add all of your competitors’ accounts to a single stream and check them out whenever needed. Moreover, this platform offers a 30-day free trial!
3. eclincher
eclincher is a comprehensive social media monitoring platform with a devoted support team that works 24/7. The tool is designed to boost your social media ROI. With its single dashboard, you can automate multiple tasks with queues, bulk scheduling, and more features.
You can use eclicher to generate insights across numerous platforms, including Instagram, GMB, Twitter, Facebook, LinkedIn, and more. This scalable tool offers many features, such as a savvy drag and drop calendar, content publisher, competitor analysis system, campaign tracking, and more.
4. Mentionlytics
Mentionlytics is a great social media monitoring tool that you can use to perform a competitive analysis. With Mentiolytics, you have the opportunity to learn everything people are saying about your brand, specific keywords, and your competitors on popular social media apps and across all web sources, such as news and blogs. Mentionlytics also has a helpful sentiment feature so you can see how people continually perceive your brand.
5. Maven Road
If you’re looking for a service or platform that can help you generate excellent social media competitor data and actionable insight-based analysis, Maven Road might be the ideal fit for your business. With Maven Road, you can stay up-to-date with relevant industry trends and sentiments that drive change. You can also generate audience analysis to boost your success. You can learn about the audience engaging with your content to generate real-time feedback during your campaigns.
Maven Road can help you analyze and benefit from critical audience engagement in all shapes and forms across multiple social media channels through targeted audience listening. The platform can organize uninstructed data, such as user discussions and comments, surrounding keywords that interest you and translate them into actionable insights that you can apply to your business and marketing strategies to improve performance.
Moreover, the platform also allows you to understand your competitors’ work through competitive and industry intelligence. What’s more is that launching a high-profile campaign becomes easier with Maven Road. It will set up the ideal measurement plan for your business to ensure seamless KPI alignment and reporting transition to enable your team to interpret the effectiveness of the campaign.
6. Sendible
Sendible is the ideal end-to-end solution with a CRM. It performs wonderfully across multiple social networks, including LinkedIn, Facebook, and more. It features effective social listening tools that enable you to monitor keywords, mentions, and competitors. This tool also has a smart queue feature that allows your social media managers to repurpose your content for maximum effect. It has a CRM system to ensure seamless influencer communication in real-time.
7. SocialPilot
SocialPilot is an effective social media management tool for medium-sized enterprises that manage multiple accounts and clients. Even though this tool doesn’t have influencer search, it does provide a social monitoring and listening feature that many businesses need for comprehensive competitor analysis in remote working environments.
This tool will help you create workflows with seamless collaboration tools, permission settings, and custom clientele reporting. It will provide you with a full social inbox to engage with your audience and auto-post your content.
The Bottom Line
The truth is that there is no singular best social media monitoring and competitor analysis tool or service. After all, what works best for one business might not be great for another. It’s why you need to find a social media monitoring tool that fits your needs, budget, and preferences.
Choose a service that will help you save your time and automate multiple social media processes while providing you with helpful and actionable insights into your progress. It should help you make sense of the data you generate regularly. Whether it’s an effective end-to-end solution or a sole competitor analysis-driven tool, your ideal social media monitoring tool will depend on what you hope to achieve with it.
