6 Competitive Benchmark Tactics to Determine Your Brand

30 Jul

Quick question: how does your brand’ s social presence stack up towards your competition?

Because if you’ re looking at little more than fans and Likes as a measuring stick, you could be in the dark.

The reality? Whilst these surface-level metrics can be important, they don’ t tell the entire story of your social presence.

Think about it. Comparing the Instagram activity of a small, local retailer towards the likes of H& M or even old Navy would be apples and a melon.

And so if you want precisely measure your brand via interpersonal, you need to measure yourself against metrics that makes sense.

That’ s where your competitive standard strategy comes in.

Simply by conducting a competitive benchmark evaluation, you can better understand your own strengths  and learn how to stand apart from the crowd.

And hey, that’ s precisely why we’ ve outlined eight standards to keep an eye on. The more a person dig into these data factors, the more actionable insights you have towards beefing up your social presence.

1 . Content Performance

First thing’ s 1st: marketers should have a strong pulse upon what’ s considered top-performing articles in their space.

If you have a post that explodes within “ Likes” and shares, it’ s a clear signal that you’ re doing something right within the eyes of your audience.

And similarly, you should know what your competition are posting that’ s rating them the same sort of love.

The good news? These numbers don’ t have to be a secret.

With the wealth of  competitive analysis tools , you can quickly see what sort of content is usually killing it in your industry. For instance , with BuzzSumo you will see the most popular content in your niche separated by keyword.

Tracking the shares of contending content via tools like Buzzsumo helps you understand how your own content piles up

Meanwhile, Keyhole allows you to see the most liked plus retweeted posts coming from a specific rival you have in mind.

Keyhole allows marketers to see the top-performing Tweets content of any given account

Naturally , none of this means much unless you understand which sort of social content is usually working for you .

Analytics such as  engagement reports within Sprout   provide an in-depth breakdown on which of your pieces rating the most traction. By analyzing thoughts, engagements and clicks, brands have got actionable insights on what they should be publishing on a day-to-day basis.

With Sprout, brands possess a better pulse on their top-performing articles via detailed reporting

By filtering out underperforming posts and content, you are able to consistently fine-tune your posts’ efficiency over time.

2 . Time and Frequency

Time is a critical competitive benchmark because brands try to maximize the number of readers they get on any given piece of content material.

Based on Sprout’ s i9000 own data, the best times to post upon social media varies through platform to platform.

Timing your posts to excellence maximizes engagement and also serves as a method to stand apart from your competitors

In any event, if you aren’ t publishing you when your audience is most energetic, you’ re inevitably stifling the particular reach of your content. Likewise, you’ re providing an opportunity for rivals to swoop in for your followers’ precious attention.

Equipment such as Sprout’ s own ViralPost feature removes the guesswork to ensure that brands can queue up their particular content based on the followers’ behavior. Oh yea, and the ability to schedule in advance removes the pressure and headache of getting to exclusively post in current.

Features of Sprout like Viralpost make sure that you're maximizing your content's achieve in terms of engagement

Here’ s a few food for thought, though: brand names should not only be aware of when they’ lso are posting but also how often.

For example , if your competitors are usually consistently posing on Facebook, Instagram and Twitter multiple times today plus you’ re not, there’ t likely going to be a gulf associated with difference in terms of your social followings.

As such, take some time in order to conduct a competitive audit that will examines when, where and how frequently your competitors are posting. Doing so may clue you in on “ dead” periods of time where nobody within your industry is posting, and likewise interpersonal channels they might be neglecting.

This also helps you save time simply by posting only when it makes sense based on information. Rather than try to pump out as much content material as possible, you should strive to make each post count whether it’ t through captions, hashtags and, naturally , scheduling.

3. Wedding Rate

It can’ t be said enough: your own follower count isn’ t the particular be-all, end-all of your social existence.

As a competitive standard, your brand’ s engagement price is much more important.

In other words, engagement rate pits your fans count against how many likes, stocks or comments that your social content material scores.

A brand along with 1, 000 engaged, active fans is much more valuable than a brand along with 10, 000 followers that take a seat on their hands. Whether it’ t due to fake followers or poor content, there are brands that have apparently massive “ followings” on paper yet low engagement rates.   It’ s also important to determine what constitutes a strong engagement rate in your town of business.

Here’ s an example of an wedding rate analysis using Phlanx upon Instagram.   Denny’ s is famous for its rabid base of interpersonal followers and scores an awesome wedding rate in response.   If your brand name was a competitor to Denny’ s i9000 in this case, you could look at this engagement price as a target for high performance.

Denny's is observed for it's sky high engagement upon Instagram with a rate of almost eight. 1%

Higher engagement means increased participation in your campaigns. This excitement is much more likely to result in sales, brand name advocates and a legitimate ROI for the efforts. Again, a massive follower count number might  look impressive but means little when it’ s not producing outcomes.

For this reason, brands ought to dig into their competitors’ follower matters to see how frequently they really engage. Reports such  as Simply Measured ‘ s comparative engagement evaluation can clue you in without needing to crunch the numbers yourself.

Marketers should be concerned about their engagement rates versus their particular competitors rather than just obsessing more than follower count

4. Types of Articles

In pursuit of more wedding, brands should look at the types of articles they publish as a key competing benchmark.

Think about it. There’ s so much diversity in terms of which usually formats perform best on which systems. For example , consider the following:

For example , Hubspot’ s Instagram   boasts everything from how-to education and learning content and memes to motivational videos and beyond.

Hubspot's Instagram feed is certainly evidence to how diverse articles marketing can be, including videos, memes and image macros

The takeaway here is that competitive brands don’ t just post the same kind of content again and again and expect outcomes. Similarly, you should have an idea of how your articles strategy serves as a contrast in order to others in your space.

As part of auditing your competition, try and find which types of content they might be ignoring.

Maybe it’ t video. Perhaps they don’ capital t do much in terms of user-generated content material and hashtags.

Irrespective, there are so many  social media ideas to make sure your content strategy doesn’ t appear identical to your competitors’.

5. Growth Rate

Conventional wisdom tells us that if a person consistently post and engage with your own social followers, your presence will certainly grow.

Publishing clean content. Rolling out new advertisments. Going back-and-forth with fans. Other great tales and on.

And while they are all great actions to take, brands should know about just how much their social following develops as a result. As a competitive benchmark, development rate examines how much your subsequent has grown versus raw numbers which usually don’ t mean much on their own.

For example , while one, 000 followers in 6 months may appear like a flood to you, that might be the drop in the bucket to a large box brand (think: Starbucks, Target).

Reports such as Sprout’ s target audience growth analysis   assists track your growth rate with time alongside your competition. This can help you see when certain campaigns were more effective compared to others, and likewise if your competitors do something that totally killed it.

Growth rate is really a key competitive benchmark for realize if your social presence is actually relocating the right direction

And hey, provided that your numbers are ticking up you’ re golden.

6. Share of Voice

Do you consider yourself to become a leader in your industry? An up-and-comer? Somewhere in-between?

Regardless of what space you’ re in, you’ re likely jockeying for placement among your competition.

Discuss of voice is a competitive standard that measures just how much you’ lso are being heard against similar manufacturers via social.

Share of Voice illustration graph

Boosting your  share of voice   ultimately involves contributing more for your industry’ s conversation. This means publishing thoughtful content, engaging with your market and taking a stance on problems within your industry.

For instance , are you up on all of your industry hashtags? Are you sitting on the sidelines with regards to controversy in your space or are you currently taking a stand?

In fact, you can’ t expect a great deal of share of voice if your tone of voice isn’ t being heard.

7. Sentiment Analysis

Yet on a related take note, there’ s more to social media marketing than just being the loudest tone of voice in the room.

We all live in a day and age exactly where not all press is good press. Belief analysis as a competitive benchmark actions whether or not your brand mentions are usually positive, negative or neutral within the eyes of your audience.

This metric is especially important when you’ re laser-focused on customer service and interacting with your followers. Furthermore, you want to make sure you’ re viewed as the proverbial “ good guy” in your space when placed alongside your competition.

Sentiment evaluation should most definitely be part of your social listening strategy to ensure that you capitalize upon positive mentions and address unfavorable ones.

Sentiment analysis helps brands understand whether their social interactions are causing a positive impression on followers

eight. Social Mentions

Rating social mentions is the ultimate objective of any brand.

We want that sweet, sweet wedding. We want those conversations and occasions to sell ourselves.

Consequently, you need to know who’ s talking about you  and   also who might be talking about your competitors. Once again, this is why social listening is so essential for tracking competitive benchmarks.

Because after all, not all mentions are made equal. Scoring a shout-out from the major industry player or changer serves as social proof for your brand name. The ability to track, measure and react to mentions in real-time also indicators you as a more active player in your industry.

The ability to capitalize on describes from influencers gives marketers a huge competitive advantage

And with that, we all wrap up our list!

Which Competitive Benchmarks Are You Monitoring?

Listen: if you want to develop the best social presence possible, you have to take a data-driven approach to growth.

Conducting a competitive standard analysis is a game-changer for brand names who’ ve been focused on a bit more than follower count.

If you’ re hungry for any better ROI from social and wish to know what to do next, these are the particular metrics that deserve your undivided attention. And hey, given the particular wealth of tools out there to assist you track them, you can take action on the insights sooner rather than later.

Yet we want to hear from you! How much would you research your competitors via social? Would you make a conscious effort to avoid copycatting your competition? Let us know in the comments beneath!

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