01 July 2024 ~ 10 min

Author of the article

Nikita Guzeria, marketing manager at VAU Agency

Market and competitor analysis is the basis for any marketing research.

Thanks to it, you can understand the situation in the niche, spy on mechanics, ideas for content, get acquainted with the audience, etc. SMM is no exception!

It all depends on the purpose of the analysis, but in general, the analysis can consist of:

• Sites of presence.
• Content.
• Promotion.
• Design.
• Community management.
• Audience.

Analyze where your main competitors are present, on which platforms they are most active, and how often they post new posts.

Most often, all relevant platforms are listed on the website in the “Contacts” section.

For example: Instagram/Facebook and TikTok are the most actively used. They post 3-4 posts a week, and the stories are not posted regularly. YouTube has long been abandoned, and there is no telegram channel.

What content format and headings do your competitors use most often? Evaluate the level of the picture and the meaning in the video.

For example: 70% of the content is reels shot with lights, a microphone and a camera/recent iPhones in the studio. The rest of the content is high-quality photos and graphic carousels. Almost all content is product-related in the form of reviews, demonstrations of product “stuffing,” etc.

Analyze where your main competitors are present, on which platforms they are most active, and how often they post new posts.

Most often, all relevant platforms are listed on the website in the “Contacts” section.

How do competitors attract traffic? What sources and mechanics do they use? Perhaps competitors offer a gift for subscribing or a review/mark. Or maybe they offer a client.

You can see what ads competitors are running in the Facebook ad library.

For example: 70% of the content is reels shot with lights, a microphone and a camera/recent iPhones in the studio. The rest of the content is high-quality photos and graphic carousels. Almost all content is product-related in the form of reviews, demonstrations of product “stuffing,” etc.

Pay attention to the design, ease of perception of information, highlights, avatar, and profile header.

For example: the profile is designed in a minimalist style, where graphic content is combined with live photos. It looks nice and it is immediately clear what kind of account it is and what they talk about. Highlights are designed in the same style of the account.

How do they communicate with the audience: dry and matter-of-fact or friendly? Are all comments answered? How quickly? Is it a response “for the sake of response” or is the information really valuable?

For example: negative comments are not responded to, positive comments are simply liked, questions are answered within an hour and they try to transfer them to direct mail.

How many followers does the account have? Who are these subscribers (gender, age, geo), what do they post, who are they following? If you can identify several segments of the target audience, record them as well.

For example, the majority of subscribers are men aged 20-35 who are active on social media, travel, have pets, and often post creative photos. Many Ukrainian bloggers and influencers, as well as major Ukrainian and global car and technology brands, have subscribers.

The logic is clear, but now the question arises: “how many such accounts should I analyze?”. The more the better, but at least 10. This way you will more or less understand the state of affairs in the niche. Take not only the largest accounts, but also those that are developing.

You can use the following table for analysis:

Market analysis is a very powerful tool that can help you stand out and differentiate yourself from your competitors. However, the most important thing in this analysis is the conclusions. It is after you draw conclusions that you will clearly understand which audience to target, what content works, etc.

Analyze, draw conclusions, build a strategy, and then your profile will be used as an example :)