Competition is everywhere, even in the digital realm. Ad placement, traffic, followers or sales – there’s no aspect of your business that you don’t have to compete with others. You can use your competitors’ efforts to your advantage through competitor analysis.
Competitor analysis is a wonderful way to know what your competitors are up to and what’s working in your industry. This will pave the way for your digital marketing strategy, helping you to optimise it without wasting resources, money or time on experiments!
With the right competitor analysis, you will be able to mine useful data quickly, efficiently and effectively. In this post, we take a look at the top free tools for competitor analysis.
Competitor analysis tools for web
When you want to keep track of the latest updates on what your competitors are up to, Google Alerts is an excellent option.
Simply log in to your Google account, head to Google Alerts and type in the names of your competitors that you want to track.
Every time your chosen competitors are mentioned on the web, you will receive an email from Google.
Competitor analysis tools for social media
If you want to know how popular your competitors are on social media, use tools like HootSuite, Sprout Social, Phlanx or Social Mention.
Social Media will provide detailed information such as mentioning frequency, reach, sentiments, etc., from across the different social platforms.
Sprout Social is a complete social media analytics tool that not only provides data about your performance but can compare yours with your competitors’.
Phlanx is an Instagram engagement tool that shows how active an account’s followers are. This is a useful tool to assess your competitors’ Instagram presence.