How to Perform a Social Media Competitor Analysis in 6 Steps

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What Is a Social Media Competitor Analysis?
A social media competitor analysis involves collecting and evaluating information about your competitors’ social media presences. Which helps you understand their strengths and weaknesses and reveals ways you can improve your own social media strategy.

Running a competitive analysis for social media enables you to:

Benchmark your performance
Identify areas of opportunity and differentiation
Get to know your target audience on a deeper level
Discover new trends or conversations you can cover
We recommend running a social media competitive analysis once a quarter to ensure greece phone number list you stay up to date with competitor and industry changes.

How to Do a Social Media Competitor Analysis
Follow along for how to do a competitor social media analysis in six steps:

1. Identify Your Competition
Build a list of your main competitors to inform your analysis.

While you could focus on both direct competitors and indirect competitors (those that sell different products or services but may compete with you for market share), focus on your direct competitors.

Why?

Because direct competitors are businesses most similar to your own. So you can get the most accurate information.

Use Semrush’s Market Explorer to identify your main competitors and get insights into the competitive landscape.

Here’s how:

First, select “Find Competitors” and enter your domain.

Then, click “Research a market.”

Market Explorer tool search for "timbertraincoffeeroasters.com"
The “Overview” tab shows who you compete with online. And provides information about market share, audience size, and more.

market consolidation, market domains, market traffic, market traffic cost, and market size data shown in Market Explorer tool
Next, scroll down to the “Growth Quadrant” widget. This breaks down you and your competitors into four basic categories:

Game Changers: Emerging businesses with high growth potential
Leaders: Businesses with both large audiences and high growth rates
Niche Players: Businesses with small audiences and low growth rates
Established Players: Established businesses with large audiences
growth quadrant in Market Explorer tool, showing game changers, leaders, niche players, and established players
Note where each competitor stands and how their audience and traffic growth compare to yours. Then, create a list of your top five competitors.

Find Social Media Competitors

with the Market Explorer Tool

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2. Analyze Audiences and Platforms
Getting to know your competitors' target audiences can reveal relevant segments you aren’t yet targeting. Which can inform changes you may need to make to reach and engage similar audiences.

To do this, you’ll want to compare characteristics like:

Demographics: Age, gender, location, etc.
Socioeconomics: Education level, income, household size, etc.
Psychographics: Interests, values, goals, etc.
Behaviors: Habits, preferences, pain points, etc.
Use One2Target to look at your competition’s audiences.

Open the tool, enter at least one competitor’s domain, and click “Analyze.”