While everyone is trying to grow their brand on social media, it’s genuine to talk about a topic that’s slightly embarrassing to some marketers.
‘Competition’
Regardless of the industry you are in, you have to undergo the complicated game of marketing in order to grab the audience’s attention. The competition is getting robust with the availability of so many marketing channels.
Read the above paragraph twice, and think over it.
Marketers are struggling for traffic, ad clicks, sales leads, followers, and this list goes on. Based on these facts, the idea of competitive analysis no longer remains an option, but it becomes a necessity.
Reason Why Competitive Analysis Approach Is A Must.
No matter how popular your brand is -everlasting customer loyalty is hard to expect. Running a competitive analysis becomes crucial when it comes to determining your brand’s position in the market.
Though competitive analysis is widespread among the businesses, we can easily get to hear questions like:-
- What does competitive analysis exactly mean?
- Is it indeed a great deal?
Meaning: Before the development of internet technology and social media, it was quite challenging for brands to determine their reputation. Now, businesses can conveniently compare their brands with competitor ads to find out which is trendier.
And, the competitive analysis makes it possible for brands to know everything about their customers which has a high impact on enterprise success. That’s the reason why competitive analysis is such a big deal.
List of Top Competitor Analysis Tools Available Out There.
Sprout Social
Sprout social got ranked as the No.1 platform for connecting with the audience and is one of the best places to get started with competitive analysis. This compelling tool allows you to study your competitors from different perspectives. Furthermore, you can take the help of its suite of competitive reports to figure out essential metrics across popular social media platforms such as Facebook, Twitter, or Instagram to compare it with your business profile.
From getting a glance at your competitor’s social media activity to comparing your growth against the average growth of all your competitor’s profiles, everything is possible within an easy click. Plus, you don’t need to bother the preparation of messy spreadsheets or lengthy manual reports anymore.
PowerAdSpy
Competitor Ads
It is among the leading Facebook marketing tools. Being a Facebook-centralized tool, PowerAdSpy provides you with the facility to spy on your competitor’s ads, without letting them know. Since the marketing world is volatile, this efficient tool continues to bring monthly updates to help marketers in walking shoulder-to-shoulder with their competitors. It’s quite straightforward to search for ads through niche, keywords, audience demographics, as well as industry. Marketers feel passionate about its feature of managing all sorts of activities at a single dashboard. They feel convenient to monitor their competitor’s campaign, their recently-published ads, and find out shortcomings of their ads copies.
When things are done systematically, PowerAdSpy guarantees your victory over the competitors. You will be able to run a successful competitive analysis for your company using this tool.
Social Blade
Social Blade is an amusing tool for researching major brands. It evaluates the number of followers on the basis of likes received on Instagram, Facebook, and Twitter posts. However, this tool is commonly used to count down the popularity of celebrities, it also acts as a window of opportunity for marketers.
For instance, your Twitter profile will get a grade according to the average number of likes and Retweets received. Additionally, Social Blade offers daily followers update, and keep a sharp eye on increase/decrease in followers. As a result, the tool proves to be a great means of revealing the fundamentals of your competitor’s social profiles, which is crucial for comprehensive competitor analysis.
Conclusion
From the stuff given here, it’s worth to say that competitive analysis is a significant part of aligning your social media marketing strategy. By choosing the right tools, you can run competitive analysis promptly, and save time to spend on other mandatory activities. The selection of tools also relies much on the fact of how often you spy on your competitor’s ads or what are your business needs.
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