Why do you need it?
You need competitive analysis so you’re not flying blind in a crowded market. It’s about knowing what your competitors are up to, what’s working for them, and where they’re slipping. Brand24 helps by tracking their mentions and conversations, so you can spot opportunities, avoid their mistakes, and stay one step ahead without the guesswork.
Clients stories
Here you can read about how our customers used Brand24 for collecting customer feedback:
What's in it for you?
Okay, we keep saying that monitoring your competitors is important. But what are the actual benefits of doing so?
You can find opportunities to win over their customers by understanding what they're lacking.
You'll stay ahead of industry trends and adapt faster than your competitors.
You can improve your own products by learning what works and doesn’t work for them.
It helps you anticipate their next moves, allowing you to respond more effectively.
You’ll spot gaps in their strategy that your brand can capitalize on.
Step-by-step project integration
Every use case has its own set of tools. Here’s a simple rundown of steps to nail your competitive analysis and keep an eye on the competition.
Step-by-step project integration
Step-by-step project integration
Set Up for Competitor Monitoring: Start by setting up your first project to track your competitor's brand name.
Required and Excluded Keywords: Add competitor-related keywords you want to monitor, such as their product names or campaigns, and exclude irrelevant terms.
Additional Sources: Link review sites and forums in the "Additional Sources" section to capture customer feedback and reviews on competitors.
Social Media Integration: Integrate Facebook and Instagram to monitor your competitors' social media activity for a complete view.
Repeat: Create projects for every competitor you want to monitor.
Webinar: Join a free webinar to learn more about using Brand24 and earn a Media Monitoring Certificate.
Account Setup
Account Setup
Add Users: Invite team members via the User Management panel and assign roles.
Complete Integrations: Ensure all needed integrations (social media, Slack, newsletters) are set up for smooth project tracking.
Optimizations
Optimizations
Set Keywords: Add additional required or excluded keywords to refine your monitoring.
Set Tags and Saved Filters: Apply tags and saved filters to streamline your workflow.
Customize Notifications: Set up personalized email and mobile notifications for important updates.
Set Storm Alerts: Add email alerts and choose specific team members to be notified in case of a competitor's crisis.
Prevent spam: If your competitor's brand name is common (e.g., 'Apple') or quite popular, you might come across irrelevant mentions. Make sure your project settings are optimized for the best results.
Contact us: If you're having trouble with your project or the mentions you're seeing, just let us know. We’ll set up a call and help you out! To do so, click on the live chat icon in the bottom right corner.
Daily actions
Daily actions
Mentions Tab: Check mentions to see where and how your competitors are being talked about. Look for common complaints about your competitors to find areas where your brand can do better.
Use filters to make your work more efficient.
Tag mentions that include opinions, complaints, or recommendations. By the end of the month, you'll have a clear overview of competitor strengths, weaknesses, and customer sentiment, giving you valuable insights into how their audience is reacting to their products and services.
Use Sentiment Filter to see how customers perceive your competitors, so you can avoid their mistakes and capitalize on what they’re doing right.
Weekly/monthly actions
Weekly/monthly actions
Check the Analysis Tab and measure how effective your competitors' content and strategies are, helping you benchmark and improve your own engagement tactics.
Identify influencers or popular people talking about your competitors, and consider reaching out to them. Partnering with these influencers can help increase your brand’s reach and credibility by tapping into their established audience.
Topic Analysis: Look at which topics or trends your competitors are leading to see what they are known for in the industry. You can discover which themes or products resonate with their audience, allowing you to create content or campaigns around similar topics.
Project Comparison Reports: Export the data and create a report that tracks your competitors' performance over time. Benchmarking allows you to see trends and changes in competitor performance, helping you stay ahead by tracking their moves.
Key features
Brand24 takes the hassle out of competitor analysis, saving you time by automating the boring stuff and making everything run smoother. Check out these key features that’ll help you get the most out of it:
Mentions Feed - Track online mentions of your competitors in real time so you never miss important conversations about them.
Comparison Tab – Easily compare your performance against competitors based on key metrics to see where you stand.
Sentiment Analysis – Evaluate public sentiment around competitors to understand how their customers feel about them. This helps you gauge competitor strengths or areas of dissatisfaction.
Influencer Tab – Discover the influencers who are driving conversations around your competitors. Use this information to identify potential partnerships or adjust your influencer strategy.
Discussion Volume Chart – Monitor spikes in discussions around your competitors to spot major campaigns or crises in real-time. This helps you react quickly and capitalize on trends or avoid missteps.
Presence Score – Track your competitors' presence score as a key performance indicator (KPI). By monitoring this, you can see how well they’re performing and strategize to outperform them.
Hashtag Tracking – Identify hashtags associated with your competitors to uncover trending topics and industry conversations that you can engage with.
Geolocation of Mentions – Identify where your competitors are performing better geographically and compare this to your own presence. This can guide localized marketing strategies.
We hope you found this article helpful! If you have any more questions or need assistance, feel free to reach out. You can email us at help@brand24.com or send a message through the chat box in the bottom-right corner of your dashboard.