15 social media monitoring tools you need in 2024

Tracking social media engagement across a bunch of different networks can be tricky. But those likes, comments and shares are invaluable to your brand.

According to The 2023 State of Social Media Report, 91% of business leaders agree that their company’s success will depend on how effectively it can use social data and insights to inform business strategy.

Putting your social interactions into context can uncover new opportunities to grow and expand. Social media monitoring tools can help you do just that.

Below, we’ve broken down some of the best social media monitoring tools out there. We’ve also included tips to help you craft a successful social media monitoring strategy.

Table of contents:

• What is social media monitoring?
• Benefits of social media monitoring
• Social media monitoring tools to use
• Tips for social media monitoring

What is social media monitoring?

Social media monitoring is the process of tracking and reacting to social engagements. These engagements include @mentions, comments, #hashtags and keywords related to your brand.

Despite the name, “monitoring” is not a passive activity. Brands should track everything from shout-outs and reviews to questions and complaints. More importantly, brands must react to all of the above. This is the distinction between social monitoring and listening.

Social media monitoring involves much more than just direct mentions and branded keywords, too. For example, a competitor call-out presents an opportunity for your brand to intervene. The same rings true for people asking for product recommendations.

The problem? These types of conversations don’t typically pop up in your notifications. This is especially true if you’re active on multiple networks. That’s why brands use social media monitoring tools to supplement their native data.

4 benefits of social media monitoring

Using data to fuel your campaigns is always a smart move. But what kind of data does social monitoring help you get? How can you use it to grow your business?

Here are some specific benefits of social media monitoring for your brand:

Maximize the ROI of your social media campaigns

Social media monitoring helps you gather valuable data to inform your future campaigns.

For example, by understanding what resonates with your audience, you can craft more engaging posts that boost brand visibility and sales—directly impacting your social media ROI.

Also, you can use this data to run more targeted ads and choose the right influencers to work with. This ensures your content reaches people who are genuinely interested in your products or services— giving you more bang for your buck.

Get insight into your industry and competitors

Social media monitoring is more than just tracking brand mentions—it’s about keeping an eye on emerging trends, industry news and what the other players are doing.

This helps you make proactive decisions like creating viral content, adopting new strategies or tools and even developing product features that give you a competitive edge.

Competitive intelligence also helps you set realistic benchmarks for your brand’s performance. What’s the engagement like for the top players in your industry? How efficient is their customer service? How frequently do they post and which channels do they use the most?

Manage your reputation

Social media is a great place to watch over your brand’s image.

In fact, according to State of Social Media Report, 9 out of 10 business leaders agree that social media insights help them proactively manage crises and create effective PR strategies.

For example, you can catch negative comments or reviews about your business early on and prevent issues from escalating.

Plus, with regular customer sentiment analysis, you’re always up-to-date on how customers feel about your brand. If there are any unexpected drops, you can go back to the drawing board and take swift action to get your brand’s reputation back on track.

Social media monitoring also helps you deliver exceptional customer service. Research shows 69% of customers expect brands to respond within 24 hours on social. By promptly addressing queries, comments and messages, you can improve public perception of your brand.

Monitor your brand mentions on social media

Want to gauge your brand’s actual popularity? Start listening. What are customers saying about your products? Which influencers are using your hashtags? Do you have any haters spreading negative vibes about your brand?

Monitoring your brand mentions can answer all of these questions. Better yet, it can reveal valuable insights about customer sentiment, product strengths and weaknesses, competitive opportunities and even user-generated content.

15 social media monitoring tools to use

Social media monitoring tools let you track your brand’s meaningful engagements wherever and whenever they happen.

There’s no shortage of monitoring tools out there. The following list can help you hone in on a tool that makes sense for your brand based on your needs.

1. Sprout Social

Sprout Social gives you everything not only to track important interactions but also to act on them.

For starters, our platform keeps track of mentions, comments and keywords across multiple networks including Instagram, Facebook, Twitter and TikTok.

The ability to condense all of your interactions into one platform is a massive time-saver. Doing so ensures that you don’t miss any noteworthy mentions or let customer service concerns go unanswered.

For example, Sprout’s Smart Inbox provides a real-time, up-to-date list of all of your social interactions. This includes communications between leads, followers and customers.

With a collaborative inbox, you and your team can reply to mentions and call-outs without leaving the platform. These features speed up response times and allow your team to offer a consistent experience to your customers.

Beyond monitoring, Sprout’s s suite of social listening tools is equally powerful. You can track specific queries using boolean operators to zero in on conversations that matter most. We make it easier to detect call-outs and shout-outs as they happen.

And with Sprout’s social analytics, you can report on all of the above to track the progress of your social presence.

Keep track of metrics including average response times and engagement volume to ensure that you’re consistently growing and improving. Consider that the best social media monitoring tools work across multiple platforms and encourage growth wherever your team is active. That’s exactly what Sprout does.

2. Agorapulse

Agorapulse’s platform lives up to its namesake with features to help brands keep a better pulse on their social mentions.

The platform’s monitoring and listening features are designed to help brands focus on “what counts.” With countless notifications and mentions for busy brands to sift through, it’s easy to get overwhelmed.

To combat comment overload, Agorapulse allows users to set parameters to filter specific phrases and platforms out of their monitoring feeds. The platform also makes it a cinch to label and organize notable customer conversations and competitor activity. This activity includes negative competitor mentions and opportunities for your brand to intervene.

These features highlight the fast-paced, high-stakes nature of social media monitoring and why tools matter so much.

3. RivalIQ

Perhaps not surprisingly, RivalIQ’s platform focuses on competitive analysis to help brands keep an eye on their business rivals.

Monitoring and benchmarking features allow brands to understand their share of voice and how they’re growing versus their competitors.

The most notable features of RivalIQ are the platform’s variety of real-time alerts. For example, the platform can identify when a competitor has changed their social media bio as soon as it happens. Recent features include the ability to also see when a competitor boosts an organic post as an ad.

These alerts can give you a head start on understanding your competitors’ positioning, promotions and campaigns.

4. Mention

Mention is yet another monitoring tool that lives up to its namesake as a powerful @mention tracker.

For brands and agencies alike, the platform claims to monitor over one billion sources for relevant mentions and comments. With so many conversations to sift through, the platform offers plenty of filtering options to help brands “eliminate noise.”

 

Likewise, the platform’s alerts can keep brands in the loop. Additional features of the platform include identifying spikes in mention volume. These instances can help brands identify a potential social media crisis or PR opportunity sooner rather than later.

5. Keyhole

Keyhole’s monitoring abilities are primarily focused on helping brands find influencers to work with.

Automated keyword and hashtag searches uncover influencers posting about topics relevant to brands. The platform also uses hashtag analytics to highlight influential accounts, posts and conversations around any given topic.

6. HubSpot

If you’re already using HubSpot as your CRM, consider how the platform can double as your social media monitoring tool of choice.

HubSpot’s features aren’t radically different from most tools on our list. The platform tracks interactions, engagements and content performance.

Coupled with HubSpot’s sales CRM, the tool highlights the correlation between top-performing content and social interactions with sales. For example, you can see if customers interacted with a certain piece of content or a team member via social. This goes hand in hand with understanding your social media ROI and the impact of your social team.

7. Brand24

Brand24’s media monitoring features include sentiment analysis and instant notifications for all of your social mentions. The platform can also detect trending hashtags that relate to your brand.

A notable feature of the platform is its mention feed that detects spikes in activity. The platform’s “summary” feed also makes it easy to track your brand’s PR efforts from week to week.

8. Atribus

Atribus is a consumer intelligence tool with an emphasis on social media monitoring. Helping brands uncover “unmet needs,” the platform digs deep into customer conversations and data.

Specifically, the platform highlights common complaints within any given industry through sentiment analysis. This provides opportunities for competing brands to identify pain points and intervene. Atribus is capable of automatically classifying mentions into complaints versus inquiries, too.

9. Zoho Social

If you’re using Zoho as a CRM, the platform’s complimentary social media monitoring features are incredibly useful.

Beyond the standard monitoring features we’ve talked about, the platform lets you build a custom listening dashboard. From hashtags to specific platforms or media outlets, this gives you a comprehensive understanding of your PR and social presence at a glance.

 

10. Awario

Awario’s monitoring features are also similar to many of the platforms mentioned above.

That said, Awario Leads is a noteworthy addition to the platform’s regular monitoring and listening capabilities.

In short, Awario can identify specific instances of people asking for recommendations for a particular industry. This again shows how monitoring is an active process that can help you win more business.

11. Cyfe

Cyfe is an analytics platform that lets you create custom dashboards to monitor key social media metrics from one centralized location.

Track followers, engagement, reach, top posts and more on Facebook, X (Twitter), Instagram, YouTube and LinkedIn. Cyfe is particularly helpful for observing trends and patterns across your social media KPIs over time.

Using Cyfe’s dashboard also makes reporting a breeze. You can easily present all your social media metrics to team members, clients or managers.

Plus, most metrics are presented in the form of data visualizations like colorful charts. This helps you make sense of the data and understand the overall performance of your brand.

12. Sendible

Sendible is a powerful social media management tool that lets users track analytics, generate reports, and design, schedule and publish content across multiple social media networks without leaving the platform.

You can keep tabs on brand mentions and industry keywords, and even respond to comments on multiple platforms from within Sendible.

The tool is built with agencies in mind, so if you’re monitoring the social presence of multiple client accounts, you can create a separate dashboard for each one. They also offer white-label solutions for those looking for customized software aligned with their brand.

13. Brandwatch

Brandwatch is a social media analytics platform known for its advanced social monitoring capabilities, including sentiment analysis and trend tracking.

The tool integrates with all popular apps and networks, and can gather data from millions of sources. It can also perform deep, granular analyses of social conversations and create custom dashboards to help you measure performance.

You can also use Brandwatch’s AI smart alerts to take swift action in response to unusual trends, such as spikes or drops in brand mentions.

14. Meltwater

Meltwater provides a holistic approach to brand monitoring—it combines social media, news and blog tracking. In fact, it even uses AI to find brand mentions in podcasts.

The platform lets you search for unlimited keywords and queries, dig into industry trends, scour historical analytics and even generate reports to uncover the meaning behind all that data. You can also leverage sentiment analysis to understand how customers feel about your brand.

Another cool feature Meltwater offers is visual analytics searching to analyze image/video content shared on platforms like Reddit, blogs, forums and news sites.

15. YouScan

YouScan specializes in visual content analysis—it uses AI to scan social media for images and videos that include brand mentions, logos and relevant scenes. This lets you uncover brand-related content that might be missed by traditional text-only social monitoring tools.

The platform also analyzes sentiment in visual content and puts it into context to help brands better understand how they’re perceived on social media. It’s a valuable tool for brands focused on visual branding and those interested in tapping into user-generated content.

4 tips for social media monitoring

Tracking metrics and mentions on social will only get you so far. The tools above offer plenty of other powerful features to help position your brand for success.

Follow the tips below to make the most of your social media monitoring efforts:

1. Monitor relevant keywords for your brand

Instead of just tracking brand mentions, keep tabs on specific keywords related to your brand and industry. This could include product names, features, popular hashtags, common industry phrases and even competitor names.

For example, a fitness app might monitor keywords like “workout”, “fitness tips” or “healthy living.” This could help them identify trends in the fitness sphere, such as a rising interest in at-home workouts. They could use that info to create more relevant content and features.

2. Monitor across different channels

Your audience is spread across various social media platforms, like Facebook, Instagram, X, LinkedIn, Reddit and others. And every channel has its unique dynamics.

You need to monitor your online reputation, customer sentiment and key metrics on every platform your audience is active on to create targeted strategies for each one.

For example, you might find engagement is low on Instagram but great on LinkedIn. Digging deeper might reveal you’re just posting at the wrong time on Instagram.

Luckily, most social media monitoring tools let you track insights across multiple channels from one dashboard. Sprout Social, for example, lets you create consolidated reports and get a birds-eye view of your overall social media performance.

3. Monitor customer sentiment

Understanding how people feel about your brand is just as important as knowing what they’re saying. Sentiment analysis involves studying the tone and emotions behind all the comments, reviews and mentions—so you know exactly what customers are thinking.

Customer sentiment can be positive, negative or neutral. Some tools like Sprout Social give you a sentiment score to help you quantify that metric. Use it to adjust your strategy to improve customer satisfaction and overall perception of your brand.

4. Monitor your competitors

Don’t just monitor your own brand. Use these tools to keep an eye on your competitors and their strategies. What kind of content are they posting? Is their brand getting more mentions than yours? What’s the customer sentiment like?

Sprout gives you visual reports to help you monitor your competition and benchmark performance across various channels:

Tracking your competitors’ campaigns, publishing behavior, engagement rates, interactions, response timings and other strategies helps you learn from them, anticipate their moves and capitalize on any gaps in their strategy.

Competitive analysis also helps you differentiate yourself from the crowd. What unique value do you bring to the table? Is there anything that your product offers that theirs is missing? Focus your energy on highlighting those areas in your promotions and campaigns.

Use social media monitoring to build better campaigns

Stepping up your social monitoring should be a top priority regardless of your industry.

The closer you track what people are saying about your brand, the better you can serve your target audience.

Likewise, you can form more meaningful relationships with your followers and customers. That’s because you’re already clued into their wants, needs and pain points.

Doing so means having the right social media monitoring tools at your fingertips. Try a tool like Sprout Social to align your publishing and customer service strategy with your monitoring insights in one place.

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Facebook automation: The ultimate guide for your brand

Juggling multiple social platforms is now a staple for brands. Facebook, TikTok, Instagram—the list never ends.

Marketers need shortcuts. Managing different networks is demanding and it’s no surprise putting your social media channels on autopilot seems like a tempting offer. Especially for your Facebook marketing strategy—the platform giant with almost 3 billion monthly users.

But is it as good as it sounds? Could automation be more than just a passing trend?

Below we’ve combed through the fine details of Facebook automation and suggested ten tools to help you get started.

What is Facebook automation & how does it work?

Facebook automation involves using tools to manage and streamline Facebook activities, automating tasks such as:

• Leaving comments on statuses, images or pages
• Liking and sharing statuses, images or pages across your account(s)
• Inviting friends to specific pages or events en masse
• Accepting or rejecting all pending friend requests

But here’s the truth about social media automation: not everything can go on autopilot. It exists to make things easier and not to replace your personal touch.

Instead, strike a balance.

Use automation to manage routine tasks, but keep your brand’s personality alive through authentic engagement. Respond personally to complex queries and comments and share unique, humanized content that reflects your brand’s voice.

Remember, your audience values real connections. They want to interact with a brand that listens and responds genuinely, not just automated responses. Use automation smartly to enhance your presence by reducing repetitive tasks and leaving more room to make real human connections.

Benefits of Facebook automation

While social media marketers manage more responsibilities today, core tasks like scheduling posts remain the same. Automation tools are necessary to keep up with the pace of social and reduce the energy spent on these routine tasks. Here are the potential benefits of using Facebook automation:

• Boosts efficiency and productivity: While liking posts and leaving relevant comments are key to a well-functioning social presence, they’re not always considered the most important marketing tactics. Facebook automation takes care of routine messages and comments so you can focus your attention on more high-value tasks like promoting content or conducting outreach.
• Always on brand engagement: The idea of automated responses is appealing to marketers who want their business to be “on” 24/7. In The 2023 Sprout Social Index ™, 51% of consumers said that the most memorable brands responded to customers.

Automation enables you to respond to questions, comments and inquiries in a timely manner, regardless of industry or time zone, to increase engagement, reliability and customer satisfaction.

• Helps maintain a consistent presence: Batch content creation and auto-posting tools keep the ideas flowing and the updates steady. It’s much easier to stay on track when low-impact tasks, like posting, happen in the background. A consistent posting schedule keeps your brand top of mind and your audience engaged.
• Gives better targeting insights: When you automate Facebook tasks, you’re able to gather and analyze KPIs such as audience behavior, what content they interact with, etc. more easily. And since there is a lesser chance of human error, you get deeper and more precise insight. This allows you to deliver better personalized content, offers and deals to your customers and followers.

How to use Facebook automation for your brand

Think of Facebook automation, whether for chatbot marketing or customer care, as a skilled sous-chef in your brand’s social media kitchen. This prep work enables you to focus on creating the perfect dish for your audience. Let’s break down how Facebook automation improves three key areas.

Facebook publishing automation

Facebook publishing automation is like setting up a smart, self-operating calendar for your posts. It lets you schedule Facebook posts in advance to make sure your page stays active, even when you’re not available.

You pick the time and content and the automation does the posting. It’s great for maintaining consistency in your posting schedule.

But it’s not just about quantity—quality matters. Mix in live, timely posts to keep your feed dynamic and engaging. This way, you strike the right balance between automated efficiency and authentic, real-time interaction.

Facebook response automation

Facebook response automation chatbots instantly reply to common questions—think “opening hours” or “location queries.” This feature keeps your audience engaged and shows them you’re responsive whenever they need you.

The key is to identify which inquiries or comments need human attention and which ones chatbots can handle.

Quick, routine questions are perfect for bots. They offer instant help and keep your audience happy with speedy responses. But complex or sensitive topics? That’s your cue to step in. These moments need your brand’s personalized attention.

Blending automation with human interaction creates a responsive and authentic experience for your audience.

Facebook ads automation

Your Facebook advertising strategy benefits from automation too. With Facebook ads automation, you set the parameters for your target audience and budget, then let the algorithm do its magic.

It analyzes data and adjusts targeting, bidding and placement in real-time. This means your ads are always in the right place at the right time while staying within budget.

The best part? You’re still in charge. Regular check-ins and a clear understanding of your objectives ensure you maintain control over the brand message and overall campaign direction.

10 Facebook automation tools to use in 2024

So where do you even start with Facebook automation? Tools make it easier and there are plenty to choose from, including:

1. Sprout Social

At Sprout, we understand the importance of combining a holistic social media strategy with automation and AI. Our tool inherits your manual tasks in publishing, listening, analytics and customer care so your team can focus on the strategic decisions that require human insight and creativity.

Data fragmentation across multiple tools also causes communication breakdowns, resulting in a disjointed customer experience and potential loss of crucial customer information. That’s what we’ve eliminated with Sprout’s Facebook integration. Publishing features, response management, approval workflows, reputation control and even scheduling posts across multiple pages and accounts—everything comes under one roof.

Tool-switching also leads to reduced efficiency and increased response times due to constant shifts between different platforms. Sprout gives you a unified inbox to simplify your workflow so you can view all your customer interactions across your other social channels as well in a single source of truth. This ensures you never miss a time-sensitive comment or message and have a holistic view of your social process.

Our AI Assist tool generates options for your post text and tone. Create posts in bulk to speed up content creation and never fall behind schedule.

Sprout’s Optimal Send Times in Compose also identifies the best send times for posting content on a specific day.

This helping hand eliminates guesswork by offering a list of suggested times based on engagement factors, enabling you to optimize your content’s reach.

Then, Sprout brings it together with detailed Facebook analytics that provide insights into post, page and tag performance.

Track these metrics to see how your social strategy measures up against quarterly goals and pivot accordingly.

Dive deeper with competitive Facebook insights on fan growth and top posts from other pages for a comparative overview of how your presence is doing. Identify content gaps and opportunities to capture specific audiences.

A combination of all these features allows you to automate your social media marketing from start to finish and your social media marketing from start to finish and focus your efforts on creative and strategic tasks that build your brand and engagement with customers.

2. Meta for Business

Meta for Business is a native Facebook and Instagram automation tool.

Features like automated responses based on pre-set keywords and phrases make it convenient for businesses to engage with their audience without constantly monitoring their social media pages. Plus, connected scheduling for posts across both platforms saves time and effort in content distribution.

What makes Meta for Business stand out is its Advantage+ feature, which uses machine learning to optimize sales campaigns and target the most likely converters within your advertising budget.

Say goodbye to manual ad targeting and hello to a smarter, more efficient way of reaching potential customers.

3. Loomly

Loomly’s Facebook automation features are quite straightforward and make it easy to schedule and publish your posts with minimal effort.

Loomly also has approval workflows to keep your team in sync. Complementary features like commenting systems, version logs and post mockups ensure everyone approves content before it goes live.

Beyond that, Loomly also offers audience targeting and post ideas. These features work together to ensure you create content your audience enjoys. Plus, advanced analytics make pivoting your strategy that much easier.

4. Tailwind

Tailwind is primarily a Pinterest and Instagram automation tool that now extends to Facebook as well. It uses generative AI tools called Ghostwriter and Tailwind Create to generate copy and design that matches your brand.

With automation and scheduling capabilities, Tailwind takes care of posting for you at the best times for maximum engagement from your audience.

Tailwind also has a powerful hashtag finder that pinpoints popular and hyper-relevant hashtags to ensure posts receive the visibility they deserve.

Plus, with one calendar for all your social networks, streamline and organize your content across platforms to maintain a consistent brand image.

5. NapoleonCat

NapoleanCat incorporates automation at several levels.

The tool includes an AI assistant that helps with content ideation and creates engaging post captions.

NapoleonCat also recognizes how important responsiveness is and has built-in features to automatically reply to simple questions and comments and redirect issues to relevant consultants.

Overall, NapoleonCat is a conversational tool that simplifies managing social media for businesses.

6. Agorapulse

Another tool for Facebook automation is Agorapulse.

This platform offers a variety of features that streamline your workflow and have a special focus on protecting your brand’s reputation on Facebook.

Features like automatically assigning, hiding, labeling and deleting content make social media monitoring simple and fast. Like other Facebook automation tools, Agorapulse has a Writing Assistant to help improve your content.

And for those messy inbox situations, the Inbox Assistant steps in to organize and manage your incoming messages. It detects questions and assigns them to the right person, saving you time and hassle.

7. IFTTT

IFTTT is a handy tool for automating tasks on Facebook. You’ll find it user-friendly, especially if you’re not tech-savvy. It connects different apps and services (like Sprout!), so you can create custom ‘recipes.’ Sync posts, manage content and trigger actions based on your page’s activity on Facebook.

IFTTT is a bit of a generalist tool, so you need to play around with it to find the recipes that are useful for you. Plus, you need to connect different apps and workflows to squeeze the most value out of it.

8. Planly

Planly is a scheduling and automation tool that streamlines content ideation and planning for businesses and creators on Facebook.

With its intuitive interface, Planly makes it easy to create and schedule posts in advance. Then, view and manage all your content in one convenient calendar.

Planly includes features for sending auto-responses and keeping your audience engaged with pre-written comments on Facebook, although the number of auto-responses is limited.

An integrated hashtag research tool and audience insights boost content optimization. These features save time with planning and maintaining consistency with your posts on the world’s largest social media platform.

9. BuzzSumo

BuzzSumo specializes in content research, analysis and monitoring.

Find trending topics, track brand and competitor performance and identify influential content creators and publications from one platform.

While Buzzsumo doesn’t offer a wide breadth of Facebook automation features, it makes up for it by providing an in-depth analysis of your page’s performance. From monitoring engagement metrics to identifying top-performing content, Buzzsumo offers valuable insights to guide future posts.

10. CoSchedule

Plan, organize and execute marketing strategies with CoSchedule.

Features include content calendar management, social media scheduling, project workflow coordination and campaign analytics. AI Social and Project Assistants speed up content ideation and generation to make sure you’re never stuck for ideas.

A highlight of CoSchedule’s automation features is its ReQueue function, which automatically republishes your evergreen content on social media and adjusts the schedule according to when your audience is most active. Automating repeating promotions like Motivation Monday also supports brand consistency and frees up time for more creative tasks.

Overall, CoSchedule is a valuable tool for streamlining and optimizing your social content efforts on Facebook and beyond.

How can your brand use Facebook automation?

As a social platform, Facebook is nowhere near a thing of the past. Your audience is very much there and very much active.

Through scheduling, analytics and content suggestions, Facebook automation tools speed up the process without sacrificing creativity.

See how Sprout compares to other social media management platforms and how it can amplify your brand’s presence across social networks.

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How to conduct a competitive product analysis, and why you should

Think about the last purchase you made. What made you choose one product over another? Its look? Its ease of use? The price point?

Consumers have to weigh many options any time they make a purchase. So it pays for your brand and products to stand out against the competition.

But what does make your offerings stand out? And how can you be “the only choice” against your competitors? This is where a competitive analysis for your products comes in. It’s the best way to understand how to outpace your competitors, and where you may be falling behind.

All of the information you need is at your fingertips—you just need the right tools to access it. We’ll walk you through how to do a competitive product analysis today to inspire your offerings and brand positioning for tomorrow.

• What is a competitive product analysis?
• How does a product competitive analysis help businesses?
• How do you analyze competitor products?
• What to look for during a competitor product analysis

What is a competitive product analysis?

A competitive product analysis is the process of researching and analyzing your competitors’ products to determine how prolific they are in the market, gaps they leave and what threats they pose to your products.

This process enables you to:

• Determine what features competitor products have
• What your target market likes and dislikes about competitor products
• What products your competitors are not offering that you can offer

This process can be done for any type of product, including physical products (toys, games, tools, appliances, etc.), digital products (digital tools like Sprout Social or applications), experiences (museums, bars or restaurants) and services (cleaning services or moving services).

Conducting a product-focused competitive analysis should be done when you’re creating or considering new offerings, but also to optimize and improve upon what you already offer.

How does a product competitive analysis help businesses?

It’s competitive out there. And the process of a product competitive analysis helps businesses gather competitive intelligence to stay ahead of the competition and differentiate themselves in the market.

Here are a few actionable ways a product analysis of your competitors’ offerings is integral to your business.

Establish your unique selling propositions (USPs)

Establishing your USPs is a crucial piece of setting your offer apart from competitors’.

Conducting a competitive analysis will help you determine what differentiates your products, which will help you set them apart in marketing materials and beyond.

This could be as simple as differentiating your product by price point or feature. For example, AllBirds and Nike both offer sneakers. But what differentiates AllBirds is their core focus on extra comfort and sustainability, which is a big part of their message and brand.

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While Nike differentiates their shoes and products by focusing on sports, activewear and performance—like this video highlighting how their product performs in cold, winter conditions.

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Increase market share by filling gaps and solving pain points

Gaps left by your competitors provide space for you to fill with your product offerings. A competitive product analysis can tell you where your competitors are lacking and opportunity for you to step in.

Similarly, analyzing conversations customers are having about your competitors can surface pain points they face thanks with their offerings.

Gain market intelligence

Understanding how people feel about your brand and products vs. your competitors also helps you determine the biggest threats to your business. It reveals if you’re falling behind the competition, and what people prefer about other brands. The truth may hurt, but it’s vital information that you can use to improve your business.

It’s also helpful when your competitors launch new products. Examine how people react to their new products or services. Where are the shortcomings? What do people love that you can use to inspire your product development? 

Add new features

Product analysis isn’t just about looking at what products and features your competitors do have—it’s also identifying what they lack.

Analyzing gaps left by your competitors’ products gives you a major advantage. It helps you identify where there are gaps to fill, and opportunities you can take advantage of by offering a new or updated product that solves pain points your competitors’ customers face.

Inform marketing campaigns

There’s much more of a through-line between product analysis and marketing than meets the eye.

Once you know where you have an advantage when it comes to products or product features, this is valuable information to highlight in marketing campaigns—whether you’re marketing the launch of a new product, updates to an old one or just creating new campaigns that highlight what sets you apart.

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Learn from competitor mistakes

The digital space is a goldmine of product feedback—about you and your competitors. Just as you learn from negative feedback about your products or services, you can learn from negative feedback on your competitors’ too.

Negative feedback on your competitors’ social channels or reviews surfaces pain points your target audience finds with their products. And this presents opportunities for you to fix those pain points in your offerings to stay ahead.

Similarly, examining positive reviews of your products alongside the negative feedback against competitors can further inform what sets your products apart.

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How do you analyze competitor products?

You can manually sift through individual competitor reviews and the comments section on their social media posts. But that’s an unrealistically time-consuming process.

An effective competitor analysis needs to balance out manual research with automated tools to help you remain agile. Here are a few competitor analysis tools and sources that will help you keep an eye on the competition frequently and efficiently.

Social media listening

To get an up-close look at what your target audience is saying about your competitors’ products (and yours), you need to be a fly on the digital wall—which social media listening enables you to do.

With social listening, you “listen” in the digital space to filter out mentions of your competitors’ products, brand name and keywords—even if your competitors, and you for that matter, aren’t tagged.

With Sprout, you can also use sentiment analysis to compare how people feel about your brand and products vs. your competitors’.

If you want to try social listening for product analysis, competitor analysis and deeper social media insights, reach out to us for a demo.

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Online reviews

Reviews written about your competitors are a valuable resource when it comes to competitive product analysis. You likely already have a system for managing online reviews for your business and product—add analyzing competitors’ review into the mix.

Dig into reviews, good and bad, about your competitors and their products—on their site, Google reviews, official review sites (TripAdvisor for experiences, Yelp for the food industry or G2 for tech products and software), Reddit and any other sources you can think of.

Digging into what people love, or dislike, about your competitors’ products and offerings can unearth opportunities and inspire new products or adjustments to existing ones.

Social media monitoring

Any social media pro knows that customer feedback and questions don’t just come in through reviews. They also show up in the social comments section every single day.

Use your social media monitoring tools to keep track of what people are saying about your products and your competitors’—it’s the perfect way to outpace them, and constantly be improving your offerings at the same time.

It’s best to formally track this type of feedback so you don’t have to dig through hundreds of comments to resurface feedback later. With a tool like Sprout’s Smart Inbox, you’re able to manage mentions of your brand—even when you’re not tagged—with keywords and incoming messages across all of your channels in one central hub.

And use Tags to keep track of product feedback by creating a special label like, “Product Feedback: Positive” and “Product Feedback: Negative” so you can easily surface these insights.

Try competitor products for yourself

This is one of the more hands-on methods. Trying a competitor’s products for yourself is one of the best ways to get an up-close understanding of their product—from functionality and areas of frustration you experience to design triumphs and shortcomings.

Pairing firsthand experience with feedback you see from customers is a powerful way to get a 360-degree assessment of the situation, and how yours might stack up against it.

Third-party research

Competitive research is certainly a large task, especially within industries with saturated markets. You can always employ third-party research to learn more about your competitors, their products and how people feel about them. For example, hiring an outside company to survey your target market. This is a great way to get in-depth, direct information about how your target market feels about your industry, competitors and what they love or hate in a product.

What to look for during a competitor product analysis

We’ve covered the “how” and “why” behind product competitive analysis methods. Now let’s get into what you actually want to track.

Think about some of the end goals we’ve mentioned for a competitive product analysis. For example, it helps you stay ahead of your competitors by identifying opportunities, finding gaps and weaknesses and unearthing differentiators for your products.

Here are some elements to look for as you conduct your analysis, and to inform competitive benchmarks.

1. Aesthetic or design of your products or services

This can refer to the physical or digital attributes of a product, or the experience of a more experiential-based product (think museums, theme parks, etc.)

How do the physical attributes or appearance of your competitors’ products or services stack up to yours? How do the two compare?

For example, let’s say you have a beauty brand. If you find that consumers love the packaging offered by your competitors’ products, it may be time for a packaging refresh.

Here are a few broad physical attributed to track and explore:

• What’s the packaging for your competitors’ products?
• What do consumers love, or hate, about the look of your competitors’ products?
• Are there certain colors or sizes your competitors don’t offer that you can?
• What are the physical attributes of your competitors’ products? How do they compare to yours?
• What effect does their design or choice of color have on the experience of using their product?

Pro tip: Social listening is a great way to surface keywords people often use to describe your competitors or their products and packaging. Sprout’s word cloud, for example, helps surface commonly-used keywords around these attributes to help you filter and prioritize feedback.

2. Pricing model

Sometimes the greatest differentiators aren’t so much about the products themselves, but rather their pricing.

How many times have consumers chosen your product, or your competitors’ products, because they were at a better price level or offered different price options?

During your competitive product analysis , consider these questions:

• How do your competitors’ prices compare to yours?
• For software or services, do they offer a free version?
• Do they offer flexible pricing, or pay-later plans?
• What do they claim their most popular pricing plans are?
• If they’re subscription-based, how often are people charged? What are the pricing tiers?

3. Utility

Look at the functionality of your competitors’ products, or try them out for yourself. This will help you understand how they outpace your offering, or how they fall behind.

Consider:

• What problems do your competitors’ products solve?
• What gaps do they leave?
• What customer pain points are your competitor’s products solving, or creating?

4. Product quality

A product is only as good as its quality. And your audience loyalty hinges on this, too.

A major way to pull ahead of the competition is by clearly offering a higher-quality product.

As you conduct your research, while you look through reviews or try your competition’s products for yourself, pay attention to:

• How easy is the product to use and learn? Is it intuitive?
• How high quality is it? Does it easily break?
• Is it durable?
• Does it scratch easily?
• For software, is it vulnerable to crashing or slow processing?

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 5. Customer service

The quality of the customer service you provide has the power to set you apart from your competitors—or send you falling behind them.

It doesn’t matter how great a product is—if customers can’t get the help they need from a customer service team, the experience with the product and brand is soured.

During you competitive product analysis, evaluate the quality of customer service your competitors offer. Consider:

• Are there common customer complaints? What are the themes?
• What do people love about your competitors’ customer service?
• Are their customer care responses personalized? Or impersonal and sloppy?
• What is the tone of their customer service voice?
• How helpful are their agents? How often do they appear to miss messages?
• Is their engagement proactive? That is, do they engage with and celebrate positive comments, as well as questions or complaints?

Through this process, you’ll have a better idea of where they stand out against you, or where they fall behind.

Leverage social media and AI to conduct an in-depth competitive product analysis

Gone are the days where product analysis always required a lengthy process, customer interviews or focus groups.

Everything you need to know about your competitors’ products and yours is at your disposal—you just need to know how to mine it.

Leverage the billions of conversations across social media to gain a better understanding of how people feel about your competitors’ products. And use that information to inspire your own, and understand how to outpace other brands.

With the power of social media platforms and AI tools, unearthing these insights is automatic, immediate and a breeze. Try Sprout Social free for 30 days, or request a personalized demo of our social listening solution.

The post How to conduct a competitive product analysis, and why you should appeared first on Sprout Social.

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Data-driven marketing: What it is and strategies for using it

“Show me the data.” A phrase marketing leaders have uttered to their teams more times than they can count. That’s because data is critical to getting support for and proving the value of your initiatives.

But when it comes to social media, data collection is complex. Teams who struggle to share meaningful insights usually don’t a) have enough data, b) have a way to turn a massive volume of raw data into actionable business intelligence (BI) or c) understand how their efforts fit into the big picture.

Can you visualize a time when you received a social team report that only contained one-off metrics (like follower count and impressions) with no throughline to business goals? Or when a report included so many numbers it was impossible to decipher, leaving your head spinning as you tried to process all the metrics and what they mean?

Data-driven marketing is about more than asking every team to submit regular dashboards or spreadsheets with KPI updates. It’s about empowering your team to mine impactful performance and audience insights. This will require investing in training, the right tools and refining your data collection process. But by harnessing the wealth of social data available, you will tap into an insights goldmine for every part of your organization.

At Sprout, we believe in the power of social data to transform every part of an organization—whether that’s using insights to change customer care processes, revamp your hiring plan or create new product lines.

Alicia Johnston

Senior Director of Content and Campaigns, Sprout Social

In this article, we explain how you can find and use social data that enables you to outpace the competition, improve your content strategy, iterate on new product development and build more impactful, long-term campaigns. We also examine common data-driven social media marketing challenges and how you can overcome them.

What is data-driven marketing?

Data-driven marketing is when you inform your business strategy with marketing BI (examples: social content performance data, social listening insights, website analytics, email marketing metrics and more). The strategy can apply to functions within and outside of marketing, including customer care, product development and growth.

Social media intelligence is a critical input for building an effective data-driven marketing strategy. With it, you can predict future audience behavior, gain unfiltered insight into the success of your campaigns and product launches, drive revenue gains and make your team the linchpin for making key business decisions.

The advantages of data-driven marketing

According to The Sprout Social Index™, many marketers already connect the value of social to business goals. Over half of brands (60%) quantify the value of engagement on social in terms of revenue impact, 57% use it to track conversions and sales directly resulting from social efforts and 51% use it to optimize their product development or marketing strategy.

Likewise, The 2023 State of Social Report found that virtually all business leaders believe social media data and insights have a profound positive impact on top business priorities—including building brand reputation and loyalty, improving competitive positioning and gaining more customer knowledge.

Here are ways you can use social media to fuel your data-driven marketing strategy, with expert recommendations from Sprout leaders and other brands.

A clearer view of your audience

To build comprehensive buyer personas, you need to understand your audiences’ pain points and challenges. Your target audience is talking about your brand (or at least your industry) on social right now.  By tapping into social media listening tools, you can understand what rising trends they care about, products they love, why a competitor is performing well or poorly, why a campaign is resonating and how an audience is responding to a conference or event.

Listening also tracks touchpoints on your customers’ digital customer journey, so you can better understand how consumers interact with you online. For example, many social teams underestimate how much of the social chatter surrounding their brand is pre-purchase (acquisition) and post-purchase (retention).

One company guessed their acquisition and retention conversations made up 0-5% of their social buzz. However, when their agency started using tags to categorize their social activity, they found acquisition alone made up at least 5%—but sometimes 70% in one month. By investigating this data, your team can develop creative ways to remove roadblocks and incentivize purchases, and align social with your sales funnel.

More targeted, relevant content

Trend cycles have never moved faster, making it difficult to tell what will resonate with audiences and what will flop. For example, Team Sprout uses our AI-powered Listening solution to vet topics before we develop content—both for one-off posts and long-term campaigns.

According to Johnston, “Social listening data helps us validate whether trends we’re seeing on our feeds and from customers are resonating with a wider audience, and uncover additional conversation themes and subtopics to dig into. This means we can create more relevant, high-performing content. It helps us respond promptly to trends.”

Social insights also help us create more compelling evergreen content. From our social profiles to our blog, we enrich our content with Listening data that supports our thought leadership, empowers our sales team and helps us relate to our audience more effectively.

To pressure test our insights, we use the Post Performance Report to analyze content down to the individual post level. The report provides a unified view of post performance across networks, so we can see which messages performed the best and on which platforms. This analysis reinforces us to test our strategy and pivot effectively if needed. Listening and analytics data work in tandem to help us iterate on our content.

Better competitive intelligence

Listening also makes it easy for Sprout to access all conversations about/around our brand and the social media industry as a whole. We use listening data to answer questions like:

• How does our brand image compare to our competitors?
• What are our competitors’ sentiment trends?
• How much social volume does our PR efforts and thought leadership content generate? What about our competitors?

Our Competitive Analysis Topic Tempate aggregates and presents this data so we can see how our engagements, sentiment and overall volume compare. With that intel, we orient our strategy to fill industry white space and find our unique footing in the market.

Proactive crisis management

A single negative customer experience can turn into a full-blown crisis if not addressed appropriately. Social listening data enables our social team to keep a constant pulse on our brand health and sentiment. We track data trends related to our share of voice, conversation volume and positive sentiment ratio. This allows us to swiftly respond to customer care inquiries and manage would-be crises with grace.

Refined product development

At Sprout, we’re always making updates to our platform based on customer feedback. For example, we expedited the launch of Dark Mode after the social team noticed a lot of social conversations and inbound questions about it in our comments and messages. They were able to use Listening and qualitative data to inform the need for the new product feature.

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Remember: When people talk about your brand, your product or their pain points, they usually don’t tag you. Listening helps us stay vigilant and tuned into all the conversations that can help us improve our offerings.

More efficient spending

By taking a data-driven approach to social media strategy development, brands are able to invest where it counts—both in their organic and paid initiatives. As many marketing leaders are expected to do more with less budget, the pressure is on to deliver results.

With social media data, you can demonstrate how key metrics like brand awareness, engagements and traffic correlated with an increase in sales. For example, when Figo Pet Insurance began investing in their social video strategy, they used real-time data to refine their approach and determine which videos to amplify with paid budget. Their efforts resulted in audience growth, multiple viral videos and revenue-driving ads.

The challenges of data-driven marketing

Many brands don’t have a clear roadmap to developing a data-driven approach to social media—or marketing in general. If your team is still struggling to translate metrics to meaningful decisions and strategic plans, here are some of the things that could be holding you back.

Collecting data

Marketing data collection has a reputation for not providing CEOs and other leaders with enough concrete information that matters to overall business goals (like revenue and customer acquisition). With Google finally phasing out of cookies and third-party data, marketing teams are under even greater pressure to find new ways of capturing critical insights. Manually collecting this data is time-consuming, tedious and ineffective, restricting teams’ ability to measure their impact.

Fragmented tech stacks

When data is siloed across multiple systems, this leads to data quality and integrity issues. Having team members switch between many different platforms for functions like social media management, customer care, content performance and sales data is not only inefficient, it also disrupts the customer journey and makes it difficult to have a cross-channel view of your audience.

Analysis

If the tools you use for data collection and analysis are cumbersome or complex, you might become over-reliant on an analytics team or person to pull relevant intel. When data isn’t accessible across teams, the result is opportunity cost. What creative work could your teams do if they had more time back? How could teams across the company use that data to iterate on customer outreach, product development, customer care and more?

5 tips to develop a more data-driven marketing organization

Here are five actionable ways you can overcome those challenges and build a data-driven marketing organization that fully harnesses the potential of social insights.

Identify and clarify the data you want to track

The first step toward creating a data-driven culture is to define which metrics matter to you, your department and the rest of the organization. While these metrics will vary company to company, revisit your business’ goals, learn to speak the language of your CFO, and find the balance between brand and performance marketing to effectively outline them. Share the metrics you’re measuring with your team and across leadership.

Invest in team development

Once you know which metrics matter most, invest in training and resources to ensure everyone across your team is data literate, understands how to do basic analysis and prioritizes data collection with the highest impact. According to The State of the Social Media Industry report, 93% of brands say that social data is expected to become a major source of business intelligence for their company in the next three years. All teams—but especially social teams—need to be ready to analyze and contextualize data to extract meaningful insights. 

Look for opportunities to centralize data in your tech stack

Nix point solutions in favor of platforms that integrate with your most critical systems, like your CRM, BI tools, marketing automation platforms and social media management solution. Find ways you can consolidate data, making it easier to measure key performance results and improve the customer experience.

For example, with Sprout’s Tableau integration, you can visualize data from multiple marketing channels in one place, giving you a more complete view of your customers and how they interact with your brand across the buyer’s journey.

Automate analysis wherever you can

To overcome the time-consuming nature of data analysis, automate wherever you can. Use AI to surface social data across your entire organization faster and make it easier for your teams to identify trends or potential crises before they crest. This is a chance to wipe the slate clean and radically rewire data collection processes or tasks that aren’t serving your employees.

Queries by AI Assist uses Sprout Social’s integration with OpenAI to generate keyword suggestions for Listening queries, expediting your social listening efforts. This helps your team fine tune Listening results, and deliver more insightful outputs—while making time for more creative work.

Establish reporting rituals

Create a regular cadence and format for sharing data across marketing, with other departments and with leadership. Data is only valuable when it’s consumed.

By using a social media management platform like Sprout, your team can view and share presentation-ready reports in our analytics suite. Reports like the Paid vs. Organic report visualize performance on individual platforms and reveal ways to improve future strategy and tactics.

Use social media insights to become a data-driven marketing leader

When you have a data-driven strategy, you’ll never have to ask your team to “show you the data” again. Data-driven marketing is the key to future-proofing your business and helping it grow.

Social media data is the missing link to understanding your audience and competitors, refining your content strategy and product development, and making better investments. But first you need powerful tools to capture it.

The right social media management platform drives revenue, boosts team efficiency and enables a data-driven focus that helps you outperform the competition. Use our social media management buyer’s guide to choose the right platform for maximum impact.

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