Outsmart the competition with Kolsquare's Social Listening Tool

Conducting competitive analysis makes it easier to run effective campaigns. Rather than spending hours rummaging through content, you can gain insights into competitors’ campaigns quickly.

Here are the five top benefits of competitive analysis:

• • Identifying Opportunities: Producing great ideas year-on-year is challenging for marketing teams. By analysing competitors' influencer strategies, you discover new approaches and overlooked market opportunities. This gives you the information necessary to approach customers in innovative ways. It also helps you uncover untapped niches and audiences to target.
  • Learning from Best Practices: Monitoring what works (and doesn't) for competitors helps you develop a highly effective approach. Once you truly understand the strengths and weaknesses of many brands' campaigns, you can develop a roadmap marking the best paths to growth and the pitfalls to avoid. It positions competitors as the canaries in the coal mine for your influencer marketing, making your strategies safer and more likely to succeed.
  • Enhancing Your Strategy: Understanding how influencers integrate into competitors' strategies helps you improve your influencer campaigns. Answer key questions: Who are your competitors working with? Who brought them the best results? How did they collaborate with them? Which hashtags did they use?
  • Brand Differentiation: Monitoring competitors' influencer marketing efforts along with more general industry trends shows you what works. It also allows you to combine insights from competitors' campaigns with your unique knowledge to create highly original strategies that make you stand out. After all, new ideas are often formed by putting together lots of old ideas. It also helps you avoid running a campaign that feels new but has already been done.
  • Resource Optimisation: Searching through competitors' marketing content takes a lot of time. While manual investigation can be a great way to conduct research and dive deep into the industry, many digital marketing teams are swamped with work. In addition, many smaller businesses simply don't have the staff. If corners get cut, key data could be missed. This can mean spending time – and, therefore, money – developing marketing strategies that just don’t work. Using a social listening tool allows you to apply resources more effectively and spend less time grudging through data that could be a click away.

Overall, competitive analysis helps you create optimal strategies by deeply understanding industry trends and competitors' marketing strategies. This data lifts up your marketing team, giving you an aerial view of the social media landscape and how competitors navigate it. This full picture puts you in a position to react quickly to trends and spark new ideas that inspire your target market.

A competitive analysis is a systematic process aimed at evaluating and understanding competition within a specific industry or market. It involves a detailed examination of companies, products, services, strengths, weaknesses, and strategies of both direct and indirect competitors to gather valuable insights for making informed business decisions.

Here are the key steps involved in a competitive analysis:

1. Identifying Competitors: The initial step is identifying entities operating within the same sector or market as your business. This may encompass direct competitors (those offering similar products or services) and indirect competitors (those who may indirectly impact your business).
2. Data Collection: Once competitors are identified, gathering relevant data about them is crucial. This can include information about their products, pricing, market share, customer base, reputation, history, production capacity, etc.
3. Analysing Strengths and Weaknesses: By examining the collected data, you can pinpoint the strengths and weaknesses of each competitor. What are their competitive advantages? Where are their vulnerabilities? What are their key resources?
4. Evaluating Strategies: It's important to analyse each competitor's marketing strategy. How do they position themselves in the market? How do they manage customer relationships? What are their short and long-term goals?
5. Identifying Opportunities and Threats: By combining information on competitors' strengths, weaknesses, and strategies, you can pinpoint opportunities and threats for your own business. This helps you adjust your approach and make informed decisions to remain competitive.
6. Regular Updates: A competitive analysis isn't static. Market conditions and competitors' actions evolve over time. Thus, it's crucial to regularly update your analysis to stay informed about the latest developments.

A well-executed competitive analysis aids in making informed strategic decisions, identifying growth opportunities, and anticipating potential threats to your business. It is particularly vital in staying competitive in an ever-evolving business environment.

A social listening tool, such as the Listening module available in Kolsquare, allows you to track your competitors' activities on social media across a wide variety of metrics. Kolsquare's listening tool, for example, enables you to see how many KOLs competing brands are activating and who they are, the time periods they're most active, and what types of content are successful with audiences. That's just to start; Kolsquare's listening tool also enables you to analyse data on a global level, or specifically in your geographic location, and to see your share of voice in the market.

By mapping your competitors' influencer marketing campaigns, you gain a comprehensive view of the social media landscape. This helps you spot gaps and opportunities you may have overlooked. It’s the knowledge you need to position your brand uniquely by launching fresh, engaging campaigns.

Additionally, understanding which influencers are already aligned with your competitors gives you insights into the kind of partnerships that work—and don't. This saves you from investing in influencers who might not resonate with your target market. You can also identify rising influencers who aren't yet saturated by competitor endorsements easily, giving you the chance to build relationships with them first.

Ultimately, competitive mapping isn’t just about playing catch-up; it’s about being proactive. With a clearer picture of what works and what doesn’t, you’ll have the competitive edge to innovate, refine your own campaigns, and make informed, data-driven decisions that set your brand apart.

To conduct a competitive analysis independently, brands must search for competitors on key social media platforms. Kolsquare data from the State of Influencer Marketing Report for 2024 shows that 81% of UK brands use Instagram for influencer marketing. 72% use Facebook, 63% YouTube, and 67% TikTok. Many social media platforms also provide tools (such as TikTok Discovery) that allow you to search by hashtags to track trends.

The difficulty with the DIY method is that it requires a lot of time. That makes it harder to stay on top of trends and track what competitors are doing right now. And right now is more important than ever as trends move at hyperspeed on social channels. Brands that hop on late risk looking out of touch and putting off their target audience.

Social media is maturing, but it is still innovative. Think wild collaborations like Rude Cosmetics and Mentos or Lidl’s highly successful “Ode to Bakery” campaign. Staying ahead of trends allows you to make waves and capture attention by being the first in your industry to try a new tactic.

With social media listening tools like Kolsquare, you’re not just collecting data; you're gaining actionable insights to help you outpace competitors. Simply connect to the Kolsquare Listening module and input the brands you want to monitor. You can instantly access insights into their performance, market share, influencer activations, and strategies.

In addition to real-time data, these tools highlight the most important metrics, such as engagement rates, audience demographics, and content performance. They also help you identify the influencers your competitors are activating, allowing you to evaluate potential partners or avoid overused figures in your industry.

The real power of using tools like Kolsquare is how quickly they allow you to respond. Trends move at lightning speed, but with real-time competitive analysis, you’re always up to date. This gives you the agility to adjust your campaigns, seize opportunities, and ensure your brand is ahead of the curve. It’s comprehensive, efficient, and can be done in just a few clicks—saving you time while delivering a competitive edge.

Get Kolsquare’s Social Listening Module! Seriously! Kolsquare’s competitive mapping tool offers a comprehensive dataset specific to influencer marketing. It enables you to zero in on what’s happening in your industry without getting distracted.

Kolsquare gives you advanced analytics in real time. Here are the key features:

• The social listening module lets you track competitors' every move on social channels in real time.
• Trend analysis tells you what's capturing your target market's attention right now.
• Sentiment analysis reveals how target audiences perceive your brand.
• Monitor campaigns in your geographic location.

These features help you do the following:

• Sway public opinion.
• Never miss a trend.
• Learn from competitors' right and wrong moves.
• Manage and prevent crises efficiently (e.g. downturn in sentiment).
• Go beyond social monitoring to proactively understand the social landscape.
• Monitor changes in sentiment over time.
• Discover how your target audience feels (pain points, aspirations, and more).
• Learn the best ways to join conversations with your target audience.
• Monitor the actions of trendsetters and thought leaders.

Put simply, Kolsquare’s Social Listening module helps you navigate social media more effectively by deeply understanding the social media landscape in your industry. That includes competitors' activities, influencer activations, and more!

Social monitoring tools help with everyday social media management, allowing brands to handle common tasks like responding to comments and complaints. People sometimes confuse social monitoring with social listening tools, but while similar, their scopes differ. Social listening tools zoom out from the day-to-day, offering an aerial view of what people are saying on social networks about a brand, topic, or product.

Listening tools track keywords, mentions, and hashtags across social networks to identify trends. Then, they transform this complex data into actionable graphs and insights that help brands join the conversation in a way that improves their reputations.

Paid social listening tools offer more comprehensive features and valuable insights than free tools. For example, Kolsquare's social listening empowers you to complete unlimited searches, understand your position on various social networks, and analyse competitor campaigns in-depth.

Choosing a free tool may result in your competitors developing a better understanding of trending topics and social media users' behaviours, giving them an advantage over time.

However, free options can be helpful if you're starting out with social listening efforts.

Many social media platforms, such as Twitter (X), once offered free built-in analytics that provided basic social listening features, but they have increasingly put them behind paywalls. Additionally, platforms like Hootsuite have also changed their pricing to remove free plans.

That said, these tools both offer free tiers:

• Google Alerts: Set alerts to trigger when a brand name, relevant keywords, or competitor is mentioned.
• Answer the Public: This tool has a free tier that allows you to perform a limited number of searches for a product, brand, or topic.
• Instagram and LinkedIn: Instagram and LinkedIn still offer free insights on their platforms.

Of course, as your influencer marketing needs grow, exploring premium options with advanced features might be the next step.

A top social listening tool will provide valuable insights, including sentiment analysis, competitive benchmarking, trends over time, and share of voice data that help you understand how much of the conversation in your industry is about your brand.

The "best" social listening tool depends on your specific needs. Here's a quick guide:

• Kolsquare: Alongside features that help you with influencer marketing, such as AI-driven influencer search with advanced filters, reports, and influencer relationship management, Kolsquare offers a full suite of social listening features. Here, you can find influencers and track key data like organic keywords, trending topics, and mentions from social network users in your industry to truly understand the market and your brand's place within it.
• Brandwatch: Offering data analysis, Brandwatch equips you with AI to dissect online conversations.
• Meltwater: This comprehensive listening solution tracks mentions across news sites, blogs, and forums.

Hubspot, Social Sprout, and Talkwater are also popular choices.

While premium social listening tools offer unmissable insights that upgrade your strategies, every influencer marketing campaign needs to start somewhere. And there are some free tools that help you gain insights into online conversations.

Kolsquare offers a free demo so that you can sample the platform before you have to pay. Experts will guide you through the social listening tool, clearly explaining how it can help you conquer social networks.

Book in for a free demo today!

Answer The Public offers a range of pricing, including limited free version. You can also use Google Alerts to stay informed whenever brand names, products, or competitors are mentioned.

Other tools offer a week or day-free trial of their premium features.

LinkedIn itself offers free analysis of the enterprise-level social network. While not as comprehensive as dedicated tools, these provide basic insights into audiences and content performance on the platform. LinkedIn is growing in popularity as more B2B brands tap into influencer marketing through webinars, collaborations, and employee advocacy.

Paid tools, such as Brandwatch, Sprout Social, and Radarr, can't currently track LinkedIn content. To analyse trends over time and identify key demographics engaging with your brand in the B2B space, join relevant groups, research competitors, and monitor mentions through the LinkedIn analytics dashboard.

Social media listening is actively analysing online conversations to understand how people perceive a brand or topic. It's the tracking of conversations about brands, influencers, or industries. It helps brands to understand their position in their industry.

Go beyond simply responding to direct comments or messages and access the best way to gain a deeper understanding of the broader public discourse, brand awareness, and competitor benchmarking.

Essentially, it's about tuning into the online narrative to anticipate needs or pain points, identify trends over time, and pinpoint opportunities to engage meaningfully with users in your target audience.

Kolsquare's features, including advanced social listening, have produced many positive results for brands.

Learn more about social media listening and how it works here.

Social listening platforms scan social networks like TikTok or Instagram to identify mentions, hashtags, keywords, and discussions related to specific topics, brands, or industries. Once they collect this social listening data, these tools examine it to pinpoint trending topics, complete sentiment analysis, and report the frequency of mentions.

Social listening tools provide a comprehensive view of the public conversation around a brand, enabling companies to make informed decisions and better engage with their audience. Over time, these strengthened connections can increase sales and even become your industry's go-to.

Book a Kolsquare demo to upgrade your social media strategy today!

Buffer is not a social listening tool in the strictest sense. It's a social media management tool. It excels at scheduling posts, managing multiple social media accounts, and tracking basic post performance metrics (likes, shares, etc.).

Unfortunately, Buffer can't directly track mentions or analyse conversations to provide the big-picture insights of a social listening tool.

AI-backed social listening tools create actionable reports and pinpoint trends from complex and large datasets,

Kolsquare is an influencer marketing platform that incorporates AI for influencer discovery and campaign measurement. It allows you to spot relevant trends quickly, track brand sentiment, find negative mentions, and discover key influencers in the conversation for partnerships.

Its AI reports give you actionable insights you can follow immediately to boost your reputation and improve campaigns.

Tools like Brand24, Brandwatch, and Sprinklr also offer AI-driven social listening.

Meltwater and Hootsuite are two platforms with social listening capabilities.

Meltwater is a social analytics platform. It provides social media listening, monitoring, and analytics capabilities across various social channels. It allows users to track mentions, topics, engagement, competitors, keywords, and hashtags across all social media accounts. In addition, it provides real-time tracking of relevant conversations and community sentiment across multiple online sources and channels, including TV, radio, and podcasts.

Meltwater also provides insights into social media performance with customisable dashboards and reports. It includes sentiment analysis and influencer management tools. In addition, it can be integrated with Hootsuite.

On the other hand, Hootsuite is a social media management platform that simplifies the scheduling and monitoring of social media activities. It provides social media management, including allowing users to schedule posts across various social networks. It also provides a centralised dashboard for managing all social media interactions. Hootsuite's social listening capabilities allow brands to monitor relevant conversations, brand mentions, keywords, and engagement. Hootsuite’s Quick Search feature also helps brands discover trending topics and analyse sentiment. Users can track performance and create reports. Hootsuite integrates with a range of other apps, including Meltwater.

There are other platforms available such as Sprout Social, Talkwater, and Kolsquare. Kolsquare is a tool specifically designed to help you upgrade your entire influencer marketing strategy.

What does Kolsquare offer?

Kolsquare aids your influencer marketing strategy by combining everything you need for influencer marketing into one.

Firstly, let's explore the social listening module, which digital marketers can use separately or in combination with other features.

Kolsqaure's social listening tool allows you to track competitors' activities on social media and their influencer marketing strategies. It provides deep listening, including insights into share of voice, audience size, engagement, and more through custom dashboards.

It also provides a wide range of influencer marketing capabilities on the same dashboard, including:

• AI-Driven Search: Kolsquare's search capability allows you to use search terms, keywords, and hashtags to discover influencers who fit your requirements. In addition, you can filter influencers by niche, reach, demographics, engagement rate, and location. It also allows searches by hashtags, keywords, and mentions.
• Influencer Relationship Management (IRM): The platform includes a comprehensive IRM tool that facilitates efficient collaboration with influencers and provides a personalized dashboard to compare influencer performances simultaneously.
• Campaign Management: Kolsquare helps manage influencer campaigns by tracking deadlines and submissions and ensuring compliance with brand guidelines. It also allows you to sort and manage influencers with personalised notes and labels.
• Audience Credibility and Compliance Scores: Kolsquare guarantees you partner with authentic influencers who truly have an impact. It helps you sort those with fake followers out of your selection and monitor which creators are compliant with regulations. Team up with best-in-class change-makers who commit to using their influence in an ethically sound and considered manner. This provides safety for your reputation and legality.
• Comprehensive Reporting: The platform offers detailed campaign reports, including performance analysis and audience data for influencers across various social media platforms like Instagram, Facebook, YouTube, TikTok, and X (formerly Twitter).

Essentially, it's all the data you need to run highly successful influencer marketing campaigns.