It’s the one thing analysts and business owners would trade pretty much anything for – to have insight into a competitor’s marketing campaign performance, the figures only company insiders are privy to.
If your competitor is faring better than your company – whether it’s a fast-food company, a news organisation or a small online shop, wouldn’t you want to know the secret behind their success?
I think the answer would be a resounding yes for most business owners. You would be crazy not to grab such an opportunity by the horns.
The power of social media marketing
Social media marketing is very competitive. It’s one of the most effective platforms to reach potential clients and convert them into customers. Facebook connects more people than any company ever has in the past. The social media platform has around 2.80 billion monthly active users and around 1.84 billion active daily users.
If your company doesn’t have a Facebook marketing strategy in place, and you’re not even considering putting one in place after reading this article, you might as well think about closing shop.
Where else will you find a better potential audience than Facebook? If you think about it, how many times a day do you go onto Facebook? Checking our social media pages during the day has become part of our routine.
What can I really learn from another company’s social media posts?
If you are selling the same product as your competitor, why are they getting more business? The answer could lie in their Facebook marketing strategy.
By measuring your marketing strategy against a competitor’s, you would be able to gain valuable insights into what works for them and how their audience engages with that content.
Yes, there is Facebook Analytics. But you only have access to your own Facebook page’s performance, and this service will not be available any longer from the end of June 2021. The good news, however, is that CompEat launched a brand-new platform that can give you insight into your competitor’s social media campaigns.
What information can CompEat provide?
CompEat can provide you with up to three competitor analysis, depending on the package you choose. This means that they can compare your business Facebook page against three of your other competitors’ Facebook pages to see how you are faring against them.
Your report will be emailed to you and will include the following information:
- Your audience size compared to your competitor’s
- How often they publish campaigns or posts
- The average engagement per campaign / post
- The top two performing posts from you competitor’s Facebook page and the engagement on each post. Not only will this information help you to identify trends in your campaigns that received the most engagement, it will also give you an idea of why your competitor’s campaign performed so well. This will in turn enable you to make meaningful changes to future campaigns or posts to increase your audience’s engagement with your content.
Don’t know how to increase engagement on your campaigns? CompEat can also send you advice on how to improve your campaigns when you sign up for one of their subscriptions.
Click here to see what packages they have available.