How to Use Facebook Insights for Competitor Analysis

Introduction

Facebook is still the site that marketers will always love, no matter how social media platforms change. One of the first channels that has remained with marketers like an envelope stamp is this one.

Outstanding brand performance also entails even greater accountability. Because of this, conducting competitor research has become essential for brand success in the dynamic realm of social media.

What is a Facebook Competitor Analysis?

A Facebook competitor study, as the name implies, is the act of examining and evaluating the Facebook strategies of significant rival brands within your area. With the aid of a Facebook competitor analysis, you can ascertain the present position of your rivals as well as their tactics and potential weak points

We will cover every issue relevant to Facebook competitor analysis in this article. We cover everything, from advantages to instructions on how to examine the Facebook profiles of rival businesses.

Why Is It Vital to Perform Facebook Competition Analysis?

Facebook claims to have the largest and most diverse user base on social networking. In addition, competitor analysis is essential for all marketers for the following reasons.

1. To Refine Target Audience

As seen by the example above, you can learn about the demands of your target market by identifying your main competitors on Facebook and studying their marketing approaches.

It also provides you with a comprehensive grasp of all the common pain spots that your prospects encounter, enabling you to market your brand in a way that solves those problems for them. Additionally, pay attention to the market niche that your rivals are pursuing and provide them with something unique to entice them to choose your company.

2. Learn From Your Competitors’ Mistakes

Every company gains a great deal of insight from its missteps over time. However, analyzing competitors quickly will reveal important insights. It offers you the opportunity to get insight from the mistakes made by your competitors.

3. Discover a New Niche/Opportunity

Regularly monitoring your rivals on Facebook gives you access to see what other social media platforms they are using. It's possible that few of them are using several platforms. In order to attract clients who are not being tracked by your competitors, you can take advantage of the unrealized potential of other platforms like Pinterest, Instagram, Twitter, and so on.

Best Facebook Competitor Analysis Tools

Competitor analysis on Facebook is important. Nevertheless, the method you use matters just as much. To begin with, you may manually monitor your rivals But it wouldn’t be very effective.

You can only see a few metrics manually. It takes a lot of time, and this strategy only allows you to track a small number of competitors. It also errs a great deal.

Conversely, you can quickly follow a large number of competitors—perhaps thousands or even hundreds—with Facebook competition analysis tools. With the help of these effective tools, you can also thoroughly examine all social media indicators to obtain in-depth competition intelligence.

Now let's examine the many Facebook competitor analysis tools that you might use.

1. Social Status

Capable of analyzing Facebook competition, Social Status is a powerful social media marketing tool.

It makes it simple to compare interaction across several social media channels with your rivals. These consist of YouTube, LinkedIn, Instagram, Twitter, and Facebook.

2. Keyhole

Monitor in-the-moment analytics to gauge your effectiveness. With only one search field, you may track keywords, hashtags, or profiles thanks to the platform's advanced technology. To delve even further, you can even use several keywords or second-level search terms.

Using Keyhole, you can engage influencers at the peak of their engagement and outmaneuver rivals. Additionally, you may see new patterns surrounding your business as they develop.

3. Bigspy

BigSpy is a tool for Facebook competition analysis made especially for social media advertisements. It boasts of a vast database of over 1 billion advertising and supports over 6 major social networks, including Facebook.

By using it, you may quickly find inspiration for your adverts by seeing what other companies in your niche are using as of late. With the use of its robust search functions, you can locate and sort advertising according to a number of criteria, including date, industry, CTA, and more.

4. Sprout Social

Sprout Social, a management social media platform with a useful function for Facebook rival analysis, is the next item on the list. With its social listening features, it monitors the online activity of your rivals and provides comprehensive information on Facebook performance.

Conclusion

Competition analysis is essential for a constant and positive brand presence on Facebook. However, the process of carefully analyzing every competitor's activities to extract insights is laborious and prone to errors. As a result, it is probably going to produce unreliable and inefficient results.

Generally speaking, you want to select software that is both accurate and scalable, which Keyhole provides. The social media management software has capabilities for benchmarking and competitive analysis that are rather strong. You may confidently expand your marketing plan and achieve the greatest outcomes with our special industry-specific knowledge results.

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