The Mention Blog

The 5-Minute Social Media Competitive Analysis

We’ve talked about why you should monitor your competitor’s marketing, and how to set up a monitoring dashboard to do so. But really, all that data you’re collecting on competitors is worthless if you don’t know what to do with it.

Smart data needs to lead to smart decisions.

And that means doing more than just hoarding competitor mentions in your dashboard. You need to sit down, dig in, and get analytical.

Monitoring your competitors isn’t enough – you need to sit down and analyze the data.

Whether that’s once a week, once a month, or once a quarter is up to you. But it deep dives need to be done regularly. That is, if you want to improve your brand. Today we’re talking about conducting a social media competitive analysis.

To conduct your own social media competitive analysis, download our free cheat sheet to save for later!

What you’ll learn from social analysis

By sitting down and dedicating time to look at the data your social media monitoring or competitive dashboard has been bringing in, you’ll be able to know exactly where your social media strategy stands, compared to your competitors.

From that, you can tell:

Which trends and insights to look for

So, how will this help you build your social media strategy anyway?

You’ll see where your brand stands in relation to your industry, who the influencers of your niche are, which competitors are succeeding on social, and how they’re doing so.

How to conduct social media competitive analysis in 5 minutes

Now, once you have alerts set up to monitor competitors in Mention, creating a competitive analysis report will take about 5 minutes, tops. You’ll want to have separate alerts set up for each competitor so that you can use Mention’s competitive dashboard, look at each competitor individually, and export data easily.

To create individual social media reports:

  1. Head to the alert you’d like to analyze, and go to ‘Statistics & Exports.’
  2. Select the time period you want to look at, and any advanced filters you’d like to use, using the drop-down menus across the top of the statistics portal.
  3. Through the main report, see the daily trends for your competitor’s mention activity, sentiment analysis, top sources and location, etc. You can also see what other keywords are being used in conversations about your competitor.
  4. Download your report as a PDF, if you need to. This is where you can also export mentions to an Excel file, CSV, PDF, or TSV. It can be helpful to save a log of actual conversations to analyze later.
  5. Switch over to the ‘Twitter Influencers’ to find the most influential members of the competitor’s community. Click through to look at the conversations the mentions came from.
  6. Export the influencer list, along with important data about their social footprint, to an Excel file or CSV.

To create a competitive report and compare two or more brands:

  1. In your Mention dashboard, click on “Reports,” and then select the “Create Report” at the top right. Next, find the Competitive Report:
  2. Give your new report a name, choose the alerts you want to compare, and the time period you’re assessing:
  3. Hit “Create Report.”
  4. View activity trends for all brands in one dashboard. This includes sentiment analysis, top sources and locations, and peak activity hours.
  5. If you want to filter your report by a certain source, sentiment, etc., hit the blue “Edit mode” button at the top of the screen. This lets you change any of the graphs you like, and remove any you’re not interested in.
  6. To change the look of the report, click on the three little dots at the top right.
  7. Schedule your report by clicking on the orange clock at the top of the screen. This lets you send your report to any email address in the world, at any frequency you choose.

So that’s a simple way to track the top content from a handful of competitors and their customers.

Mention also has competitive reports for social media to let you monitor audience growth, hashtags, and posting times:

To use these, you don’t even have to set up alerts or collect mentions! Just choose up to five accounts you want to compare, and Mention does the rest.

You’ll find these in the Reports tab, the same place you found the competitive report above.

Get more information about these, including a step-by-step guide to creating them here.

Tips for your social media analysis

Once you’ve created your reports and it’s time to dig into the data, here are some ideas on how to use it:

Mission: accomplished

Over the past month, we’ve walked you through the process of becoming the ultimate marketing spy through smart monitoring. And your training is complete. You now have what you need to build and execute a competitor listening strategy.