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Unlocking the Insights: Competitive Benchmarking
Stay ahead in 2024 with a competitive benchmarking report and thrive by understanding your market position, identifying areas for improvement, and adapting to emerging trends in your industry.
To deliver a robust and highly detailed audit, I am collaborating with digital transformation strategist, Roger Jones. Together we will bring a wealth of expertise to guide you through a comprehensive assessment of your competitors.
What is Competitive Benchmarking?
Our service offers a detailed analysis that benchmarks your social media performance against industry peers, competitors, and/or aspirational organisations to identify strengths, weaknesses, and opportunities for your future activity.
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Let’s discuss your Competitive Benchmarketing Report.
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- Platform Analysis and Organic Content Review: Dive deep into the channel strategy of your competitors. What platforms are they using, who are they targeting, what content are they sharing, and what calls-to-action (CTAs) drive engagement? We unravel the intricacies of their approach.
- Performance Analysis: Compare your current performance against industry peers, competitors, or aspirational organisations, and set KPIs for future activities. We will review audience profiles, reach and engagement metrics.
- Social Search: Understand your market share in social search results; compare the discoverability of your organisation in comparison to your competitors.
- Share of Voice: Evaluate your influence across social media channels in comparison to competitors. Pinpoint opportunities to amplify your message and dominate the conversation.
- Reputation Management: Gauge sentiment around your organisation with a reputation assessment. Understand how your audience perceives your brand, products and services, and uncover opportunities for improvement.
- Resource Assessment: Gain insights into the resources your competitors employ. From team structures to toolkits.
Output of the Benchmarking Report
- SWOT Analysis and Gap Identification: Uncover your strengths, weaknesses, opportunities, and threats in comparison to your competitors. We will identify areas for improvement and areas where you excel.
- Key Recommendations: Receive actionable recommendations to enhance your channel strategy, resource allocation, and overall performance based on industry best practices and future trends.
Frequently Asked Questions
- How much does it cost?
Following a discovery call, we will confirm the cost of your Competitive Benchmarking Report based on your specific requirements and the number of social media platforms to be reviewed.
- How many competitors will you review?
The Competitive Benchmarking Report includes a review of your activity and five competitors, on up to three social media platforms; LinkedIn, X (formerly Twitter), Facebook, Instagram, Threads, TikTok and/or YouTube.
We can advise at an early stage which social media platforms should be reviewed, by identifying the platforms used by the chosen competitive set. This may include platforms on which you are not currently active.
Further competitors and platforms can be audited, for an additional cost.
- Can I choose which competitors to benchmark against?
Yes, you can provide a list of key competitors you want to benchmark against, or we can recommend relevant competitors based on industry analysis.
- Can you analyse competitors across different countries?
Yes, our competitive benchmarking service is global, and can also include organisations from non-English speaking countries.
- What specific metrics will be analysed in the competitive benchmarking report?
We analyse a variety of metrics, including engagement rates, follower growth, content performance, and industry-specific KPIs to provide a comprehensive overview of your social media standing.
- How long does the report take?
It takes 8.5 days to conduct a Competitive Benchmarking Report. However, the information should have time to filter in our minds and we like to allow time for reflection and discussion before we make our recommendations. We therefore recommend allowing a minimum of 6 weeks for the audit from start to presentation. We will discuss potential start dates during the discovery call, and suggest scheduling an interim call to discuss any questions that might arise during the data collection stage.
- How will the report be presented?
The findings of the report will be presented in a document, via an online meeting (up to 2 hours). The session can be recorded for internal use. You decide on the most relevant attendees at this meeting; just let us know who will be in the room!
If you require further support following the presentation, we can offer ongoing consultation and training to implement the recommendations.
- Is the report a one-time service, or can it be ongoing?
The report is a one-time service. Many clients find value in ongoing benchmarking to track progress and to respond to audience and industry changes.
We can provide advice and estimated costs for regular insights – from real-time reporting to annual updates.
- Who is carrying out the work for the competitive benchmarking report?
Clients I’ve worked with…
What it’s like to work with me
“Luan explains the [social media] subject in a clear and well-prepared manner, all levels of social media practitioner, from rank novice to experienced user, will come away with significantly more knowledge and tools to help improve their social media outputs.”
Stewart Wardrop, Chief Executive Officer, Arboricultural Association