The competitor analysis serves as a basis for any social media content plan. An experienced professional will know, whether you are taking over from an existing professional, or starting from scratch, you need to have that background knowledge of what your competition is up to.
You might be starting for a worldwide known brand like coke so getting your competitors together may be an easy task. If you find yourself with a much smaller brand, it does become a little bit more difficult to do so but it really is an enlightening experience.
You really do yourself a favour by making sure you thoroughly understand your competitors, especially when it comes to social media. Certain content that resonates with your one audience may not resonate with another. A great way to understand that is to look at your competitors and look out for strengths and weaknesses. It will be worth it in the end. Believe me.
The last task is to ensure that you write it all down. Not just to show your boss that you’ve worked but you’ll be amazed at how brands change throughout the year. After completing your analysis, not only will it provide a basis for your own content plan, you can revisit it in 3-6 months to look at the changes, see how they’ve evolved and compare it to your efforts.
I can’t stress how important it is provide your client with this information BEFORE pitching your plan for the brand.
For your convenience, I have loaded a template that I have used for years now. It’s simple to understand and you customise it according to what you feel is important.
[Download]Social Media Competitor Analysis xlsx (17kb)