How to do a good benchmark on social networks

How to do a good benchmark on social networks

Find out how to analyze the community and the voice of your competitors on social networks.

The benchmark is an important practice to understand the strategies implemented by the competition. © Visual Generation

On the occasion of BlendWebMix 2021, Cédric Chabal, co-founder and associate director of Smart Data Power offered a conference to discover how to analyze the community and the voice of its competitors on Twitter and / or Instagram.

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What is the point of analyzing your competitors’ data?

Collecting data on Twitter, Instagram and LinkedIn can be invaluable and useful in understanding which good practices to learn from on social media, but also which failures to absolutely avoid . Analyzing your competitors’ data allows you, for example, to map their ecosystem by target, but also to analyze their behavior, visualize their commitment, or even detect their weaknesses.

Please note, when collecting data, it is imperative to comply with laws relating to privacy, such as the GDPR for example. This is why it is no longer possible to collect data on the Facebook, YouTube, Pinterest, Snapchat or TikTok APIs.

3 different focuses to analyze the community and the voice

During his conference, Cédric Chabal specified that the day before is the most important practice when one wishes to benchmark, because it allows to monitor the competitors as well as the new entrants easily, thanks to dedicated tools and often affordable. To effectively analyze the community and the voice of competitors, you can focus on the following 3 focuses:

Community analysis

It is important to know who your competitors’ followers are, but especially what their level of influence is. From this list, you can potentially extract a panel of top targets (prospects, partners, influencers, media, etc.), while excluding suspicious followers (often bots with no name / first name, no biography, no profile picture and no subscribers…).

You can thus give an influence score to the followers of the most interest to you (according to their category and / or their geolocation), based on the following criteria:

  • number of followers
  • date of last post / retweet
  • monthly average of posts / retweets
  • average monthly follower acquisition
  • follow ratio

Thanks to this score, you can more easily build a panel of target people who could match you. Once the ranking is built, do not hesitate to segment it, because there may be software accounts, brands, or influential accounts that will be of little interest to you, despite their high influence score.

Do not hesitate to list the strengths and weaknesses of your competitors ‘accounts, taking into account the average number of followers of your competitors’ subscribers, but also the percentage of top influencers in their community, as well as the average activity of their followers.

Community management analysis

During this analysis, it is fundamental to observe the wording and effectiveness of your competitor’s posts, but also by whom these posts are distributed. Do not hesitate to observe the graphic identity of your competitors, through their profile photos, their banners or even the visuals they may have to post.

To get a real idea of ​​the impact of their community management, Cédric Chabal recommends analyzing the content posted over an entire year, in order to observe the different actions of community managers over time. The best solution to facilitate this analysis is to buy the analytics of your competitors for the entire year, and to sort the posts in order of success, date, and identify the pedigree of Internet users who have interacted with these posts. The tweet / rt ratio is a good performance indicator, which should help you find the wording that works best for certain topics.

Thematic analysis

Social networks allow you to do targeted research by topic, and this feature is very interesting during a competitive watch, since it makes it easy to know if the competitors have positioned themselves or not in the posts that have the most commitment on dedicated themes. As with the 2 previous analyzes, do not hesitate to list the most influential Internet users who have interacted with the publications by listing them according to several criteria:

  • those with the biggest community
  • those with the most publications on the subject
  • those who are most successful when posting on the topic

If your competition has experienced spikes in influence, you can analyze the relevant posts to better understand when and why such spikes occurred. These increases in engagement are often linked to a strong public interest in the topics covered, which lead to heated debates among Internet users on social media.

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