How to Benchmark Competitor Social Media Performance
- Joseph Perry
- Nov 13
- 16 min read
Benchmarking your competitors' social media performance helps you identify where you stand, what’s working, and what needs improvement. By comparing your metrics to industry standards and similar businesses, you can refine your strategy and focus on what drives results. Here's how to start:
Track Key Metrics: Measure engagement rates (likes, shares, comments), follower growth, and audience demographics. For example, Instagram averages a 2.26% engagement rate, while LinkedIn averages 0.51%.
Identify Competitors: Group your rivals into direct competitors (similar businesses), indirect competitors (alternative products), and aspirational competitors (industry leaders).
Analyze Content: Study what content types (videos, carousels, etc.) perform best for your competitors. For instance, Instagram Reels can achieve up to 4.7% engagement.
Use Tools: Platforms like Rival IQ, Hootsuite, and Sprout Social simplify tracking and analysis.
Refine Your Strategy: Adjust posting schedules, content types, and hashtags based on competitor insights.
Social Media Competitor Benchmarking | Statusbrew
How to Pick Who to Watch
When you pick who to watch, look at those who have the same buyers as you. They need to play in your space. Choose those who push you to do better, but make sure they fit your type of work. For instance, a small bread shop should look at other bread shops close by, not at huge stores around the world. You need to watch those who are the same kind and size as you are. After you find some who fit, put them in groups. This way you can learn things you can use.
How to Sort Others You Compete With
To see how you do, sort those who compete with you into three groups: ones just like you, ones not just like you, and ones you want to be like one day. This helps you see where you stand and find ways to do more.
Direct competitors are those who sell the same things you do to the same people. For example, for a small coffee shop, the direct ones are other shops near you trying to get the same people to buy coffee before work.
Indirect competitors sell to the same folks but with other things. So, for that same coffee shop, these could be juice shops, places where you buy food in the morning, or small shops at the corner that sell coffee too.
Aspirational competitors are the big names or those who do things you want to do one day. These could be bigger shops with smart new ideas, like Starbucks or other known places in your land.
Look at each group, and you will know where you do well and where you need to try new things to grow.
Type of Rival | What You Learn from Them | Simple Coffee Shop Example |
Main | Real tips for your shop and town | Small shops close by, near your home |
Other | Fun ways to get folks to come in | Juice stands, early food shops, quick marts |
Big Names | Smart plans to grow and last for years | Huge chains like Starbucks, or known brands |
When you put other businesses in groups like this, you set good goals that you can reach. As your business gets bigger, you learn more about what is possible to do.
How to Make Your List of Competitors
To keep things easy and work well, try to find five to ten other businesses in each group. When your list has a little bit of everything, you can see new ideas. At the same time, you do not get lost with too much.
First, look for those who do the same things you do. Find businesses that are like yours, in your town or in the same market you sell to. Take note of who people see when they look for what you offer. Watch who your buyers follow and talk about as another choice on social media sites.
Look at what social apps say are good for you, look at hashtags that match your work, and watch how people talk to each other to see who else is doing what you do. See who writes on your posts or talks to your fans.
Pick places that post often and get lots of likes or comments. If a business has many fans but does not post new things, it may not help you learn much. It is better to look at how much people join in than just how many people follow.
If it matters where you are, think about that too. For example, if your place is in Los Angeles, check other spots close to you first. You can also look at places in big cities like San Francisco or New York for more ideas to get better.
Change your list every three months. Markets change, new places show up, and what you want next can shift. Making your list new and fresh helps you keep learning and getting results.
Do not only look at how many people follow a place. Do not pick places that are much bigger or very different, like if you are small and local, do not only look at big names or national groups. If you sell to businesses, do not spend time looking at ones that sell to people.
You can use things like Hootsuite and Rival IQ to make your search and tracking faster. Still, start by looking for yourself so you know why each one on your list should be there. Your main aim is to have a list with info you can use to make your social media and your business better.
Which Metrics to Track and Compare
Once you've outlined your competitor list, it's time to convert those qualitative observations into measurable benchmarks. By focusing on the right metrics, you can gauge competitors' performance and pinpoint areas where you can improve. The goal is to track numbers that genuinely impact results, not just ones that look good on paper.
Engagement Metrics
Engagement rate is a core metric that measures how actively audiences interact with a competitor's content through likes, comments, shares, and other actions. A higher engagement rate often reflects a strong connection between the audience and the content.
The table below provides engagement rate averages and highlights the top-performing content types for each platform. For example, while Instagram averages a 2.26% engagement rate, Reels and carousel posts can reach as high as 4.7%. Similarly, Facebook native videos perform well with a 3.2% engagement rate, LinkedIn thought leadership articles hit 2.8%, and multimedia tweets on Twitter (X) can achieve about 1.6% engagement[2][7].
It's also wise to compare both average and median engagement rates. While averages might be skewed by a viral post, medians give a more accurate picture of day-to-day performance[4].
Next, dive into follower trends to better understand your competitors' audience.
Follower Growth and Audience Data
Follower growth rate shows how quickly a competitor is expanding their audience. Instead of just looking at raw numbers, pay attention to the quality of followers and how that base evolves over time. For instance, gaining 500 followers in a month could indicate effective content or ad campaigns.
Audience demographics - such as age, location, and interests - offer valuable clues about a competitor's targeting strategies. If a competitor's followers are primarily 25- to 34-year-olds in your area, they might be using local hashtags or location-based ads, which could work for your strategy too.
Timing is another critical factor. If competitors see peak engagement on posts published at 2:00 PM on Tuesdays, that might be the sweet spot for reaching your audience as well.
Sometimes, smaller but highly engaged audiences outperform larger, less active ones. A competitor with 5,000 engaged followers often delivers better results than one with 50,000 followers who rarely interact.
Content Performance and Posting Patterns
Posting frequency reveals how often competitors share new content. While some industries thrive on daily posts, others achieve better results by focusing on fewer, high-quality updates. For example, a financial services company discovered that competitors posting just twice a week on Facebook achieved the highest engagement rates[2].
Understanding which types of content resonate most is equally important. Competitors may find varying success with photos, videos, text posts, or a mix of formats. While short-form videos often dominate in engagement, the best-performing content type depends on your industry.
Hashtag strategies also play a key role. By analyzing the hashtags competitors use, you can identify which ones are driving engagement. Combining trending hashtags with niche, branded tags can help you reach a more targeted audience.
To make your plan better, look at how often others post, what they share, and when they put things up. Check what works and what does not. Watch their best days and hours. Compare their stuff with yours. Use this to help choose when to post and what to write. Be sure your posts match what people like and see often. Keep checking to stay ahead.
Platform | Average Engagement Rate | Best Content Type | Calculation Method |
2.26% | Reels, carousel posts (4.7%) | (Interactions ÷ Reach) × 100 | |
0.61% | Native video (3.2%) | (Interactions ÷ Followers) × 100 | |
0.51% | Thought leadership (2.8%) | (Interactions ÷ Impressions) × 100 | |
Twitter (X) | 0.00% | Multimedia tweets (1.6%) | (Interactions ÷ Impressions) × 100 |
TikTok | 0.98% | Short-form video | (Interactions ÷ Views) × 100 |
The time of year can change what works. For example, other brands put out lots of holiday posts when those days come. You can look at these posts to find out when people want to join in and talk more.
Firms like Big Drift Marketing look at this to plan posts for each month. This way, they make sure their team uses their time well and gets the most out of their work. By watching what others do and see what works for them, you can know better what you should do with your own plans.
Tools for Social Media Benchmarking
Once you’ve identified the key metrics to track, the right tools can help turn your observations into actionable insights. These platforms simplify the process of competitor research by automating data collection and analysis. With so many options available, it’s important to choose one that aligns with your goals and budget.
Popular Benchmarking Tools
Sprout Social is a robust option for both competitor analysis and social media management. It supports platforms like Facebook, Instagram, Twitter/X, LinkedIn, and TikTok. With features like detailed reporting, scheduling tools, and custom dashboards, it helps you monitor engagement rates, posting frequency, and content performance in real time.
Hootsuite offers a more affordable solution through its Professional plan. While its competitor tracking is more basic, it provides multi-platform management and team collaboration tools. Its analytics feature includes competitor comparisons, though it’s not as in-depth as tools dedicated solely to benchmarking.
Rival IQ specializes in competitor benchmarking. It delivers detailed analytics for Facebook, Instagram, Twitter/X, and LinkedIn. For example, its 2025 report analyzed engagement rates, posting frequency, post types, and hashtags across leading brands, offering industry-specific insights that can help set realistic performance goals.
Socialinsider is ideal for businesses with international competitors. It supports Facebook, Instagram, Twitter/X, LinkedIn, and TikTok, offering comprehensive competitor audits and global benchmarks.
Databox stands out for its custom dashboards and automated reporting. It connects to various social platforms, updating benchmarks monthly. Its visual reports make it easy to identify trends and share insights.
AgencyAnalytics is tailored to marketing agencies and consultants. It’s a budget-friendly option for managing multiple accounts, with features for creating professional, branded reports.
Emerging platforms like Dash Social are introducing new metrics, such as the "Entertainment Score", which evaluates how engaging and entertaining content is - a reflection of the industry’s push for more nuanced performance measures.
Each of these tools offers unique benefits, so it’s important to match their features to your specific needs.
How to Pick the Right Tool
Choosing the best tool for your business involves weighing several factors. Here’s what to consider:
Budget: Small businesses might prefer cost-effective options like Socialinsider or Hootsuite. Medium-sized companies could benefit from the advanced analytics offered by Rival IQ or Sprout Social. Large enterprises often need solutions with custom reporting and API access.
Competitor Tracking: Many tools base their pricing on the number of competitors you monitor. If you’re only tracking a few, a basic plan might be enough. For monitoring 15–20 competitors, you’ll likely need a higher-tier plan.
Platform Support: Make sure the tool covers the social platforms most relevant to your business. Some tools excel with Facebook and Instagram, while others provide better insights for platforms like LinkedIn or TikTok.
Reporting Features: Determine if you need custom-branded reports for clients or automated dashboards for internal use. Agencies, for example, often require client-ready reports, while in-house teams may prioritize real-time updates.
Integrations and Benchmarks: Tools that integrate with your existing systems - like CRMs or email marketing platforms - can streamline workflows. Some platforms also offer benchmarks segmented by industry, allowing you to compare your performance against similar businesses.
Most tools offer free trials, typically lasting 14 to 30 days. Use this time to explore their features, run test analyses, and see if the insights they provide align with your strategy.
Tool | Starting Price | Best For | Key Strength |
Sprout Social | US$249/month | Comprehensive management | All-in-one platform with deep analytics |
Hootsuite | US$99/month | Budget-conscious teams | Multi-platform management |
Rival IQ | US$239/month | Pure benchmarking focus | Detailed competitor comparisons |
Socialinsider | US$99/month | Global comparisons | International market insights |
Databox | US$72/month | Visual reporting | Custom dashboards |
AgencyAnalytics | US$12/month/campaign | Agencies and consultants | Custom-branded reporting |
Ultimately, the tool you select should be easy for your team to use while delivering the insights needed to refine your social media strategy. Whether you prioritize affordability, advanced features, or detailed industry data, there’s a tool out there to meet your needs.
How to Use Insights to Improve Your Strategy
Once you've gathered benchmark data, the next step is turning competitor insights into practical changes that enhance your social media performance. The real challenge lies in transforming these observations into specific, testable strategies that yield measurable results.
Improving Your Posting Schedule
Your competitors' posting habits can offer valuable clues about the best times and frequencies to post. By studying when and how often top-performing competitors share content, you can uncover patterns that might work for your audience too.
For instance, financial services brands on Facebook achieve their highest engagement rate of 2.12% by posting just twice a week[2]. This insight challenges the assumption that more frequent posting always leads to better results. Instead, it highlights the importance of focusing on quality over quantity. Experiment with fewer, more impactful posts to determine the right balance for your industry.
Pay attention to the days and times your competitors post. If you notice a trend - like high engagement on Tuesday afternoons or Thursday evenings - try posting at similar times for a few weeks. Track metrics like engagement rates, reach, and comments to see if these adjustments improve your results.
However, remember that your audience might behave differently. Use competitor data as a starting point, but fine-tune your strategy based on your own analytics. This approach ensures your posting schedule aligns with your unique audience's preferences.
Better Content Planning
Analyzing competitor content can reveal what resonates with your shared audience and highlight opportunities they might be missing. Look for both successful content formats and gaps you can fill.
For example, Instagram Reels and carousel posts average an engagement rate of 4.7%[7]. If your competitors are thriving with these formats, it might be worth incorporating more video content and multi-slide posts into your strategy.
Dig deeper into their top-performing posts to spot recurring themes. If competitors aren’t producing much educational content and your audience values tutorials, this could be your chance to stand out. For instance, a retail brand that noticed competitors underusing short-form video on Instagram switched to more Reels and carousel posts, boosting their engagement rate from 1.8% to 4.2% in just three months[4].
By tailoring your content to audience needs, you can create a more effective strategy. Once your content mix is dialed in, focus on refining hashtags and audience interaction for even better results.
Better Hashtag and Engagement Tactics
Competitor analysis can also sharpen your hashtag strategy and audience engagement techniques. It’s not just about knowing which hashtags competitors use - it’s about understanding which ones actually drive engagement.
Posts with 1–3 hashtags on Instagram see 29% higher engagement than those with none or more than three[11]. Track the hashtags your top competitors use frequently in their high-performing posts. Use this data to create a hashtag tracker and test incorporating some of these tags into your own posts. Instead of copying their entire hashtag sets, blend competitor-inspired tags with niche hashtags that reflect your brand or market.
Also, pay attention to how competitors engage with their followers. Do they reply to every comment, ask questions in captions, or encourage user-generated content? Brands that actively interact with their audiences often see better engagement overall.
Take note of their community-building tactics. Some brands might use polls or questions to spark conversations, while others might run contests to encourage user-generated content. Adapt these strategies to suit your brand’s voice and audience preferences.
Finally, monitor how quickly competitors respond to comments and messages. Speedy engagement often leads to stronger connections with followers.
Track and Refine Weekly
After implementing changes inspired by competitor insights, track your performance weekly. Compare metrics like engagement rates, follower growth, and content performance to both your previous results and your competitors’ current performance. This regular evaluation ensures that you’re not just mimicking tactics but actually improving your strategy.
For businesses aiming to integrate these insights effectively, Big Drift Marketing offers strategic social media management services, including competitor analysis and data-driven strategy development, to help you optimize your posting schedules, content planning, and engagement tactics for meaningful results.
Setting Up Regular Benchmarking
Competitor benchmarking isn’t just a one-time task - it’s an ongoing process. Regular reviews keep your data relevant and your strategy adaptable. By consistently analyzing competitor insights, you can refine your approach and stay aligned with market shifts.
Planning Regular Reviews
How often should you review benchmarks? It really depends on your industry’s pace and your specific business goals. For most organizations, monthly or quarterly reviews work well to monitor trends and tweak strategies. However, in fast-moving industries or during active campaigns, weekly check-ins might be more appropriate[2][5]. Consider factors like how active your competitors are, seasonal trends, and the rapid evolution of social media platforms when deciding on the frequency.
Set up a schedule that works for your team:
When comparing your performance against industry standards, use median values instead of averages. Why? Averages can get skewed by outliers, like a competitor’s viral post, while medians give a clearer view of typical performance[4]. For example, if one competitor’s engagement rate skyrockets due to a single viral post, the median still reflects what most posts achieve.
Define clear KPIs and use standardized dashboards to track metrics over time. This ensures you’re not only measuring your progress but also staying competitive in your industry[3][4][6]. Assign team members specific roles for data collection and analysis, and set recurring review dates - like the first Monday of each month - treating them as firm commitments to avoid delays or rushed reviews.
Automating Your Reports
Once your review schedule is locked in, the next step is to streamline data collection. Automation can save you time, reduce errors, and allow for real-time monitoring of competitor activity[5][10]. This means you can quickly respond to shifts in performance without getting bogged down in manual reporting.
There are plenty of tools that handle automated data collection, scheduled reporting, and customizable dashboards. These platforms pull data directly from social networks and deliver fresh, up-to-date reports without requiring manual input[5][10][8].
When setting up automated reports, focus on the metrics that align with your strategy. Include key data points like:
You can also set up alerts to flag significant changes, like sudden engagement spikes or shifts in a competitor’s posting schedule.
Tailor reporting frequencies to your audience. For instance, your social media manager might need weekly reports to act on short-term opportunities, while executives may prefer monthly summaries that highlight broader trends and strategic takeaways.
Even with automation, human analysis is still critical. Use the time saved to dig deeper into the “why” behind the numbers. For example, if an automated report shows a competitor’s engagement rate spiking, take a closer look at the content or strategy changes driving that success.
If you’re unsure where to start, companies like Big Drift Marketing specialize in setting up automated systems, selecting the right tools, and interpreting complex data to ensure your benchmarking efforts lead to actionable insights.
"Marketing is wasted without returns. Great marketing tracks every dollar." - Big Drift Marketing[1]
Conclusion: Using Data to Drive Growth
Benchmarking plays a crucial role in fine-tuning your social media strategy. By transforming social data into actionable growth tactics, it helps you make smarter decisions about your content, posting schedules, and engagement methods. Understanding what works for others in your industry provides a foundation to refine your approach.
For example, prioritizing high-performing content like video can lead to noticeable improvements. In January 2025, a financial services firm increased its Facebook engagement rate from 0.61% to 2.12% and boosted lead generation by 15% in just three months by adjusting its posting frequency[2].
Focusing on the right metrics is equally important. Interaction-driven KPIs - such as engagement rates, shares, and video views - offer a clearer picture of success compared to vanity metrics. Using median-based benchmarks, rather than being swayed by viral outliers, ensures you're tracking realistic performance and staying on course for consistent growth[4][9].
Once you've identified your key metrics, operational efficiency becomes the next priority. Automation tools can simplify data collection, saving marketing teams up to two hours per client each week. This frees up time for strategic planning and allows you to focus on understanding the "why" behind the numbers, enabling creative problem-solving based on your findings[7].
Benchmarking isn’t just about following trends - it’s a way to uncover market opportunities and set your brand apart. Companies like Big Drift Marketing excel by combining data insights with storytelling, helping businesses strengthen customer connections and elevate their digital strategies.
FAQs
How can I identify the best competitors to benchmark for my industry?
To pick the right competitors for benchmarking, start by zeroing in on businesses within your industry that cater to a similar audience or share the same market space. Pay close attention to those with a strong social media presence and high engagement rates - they can offer valuable clues about successful strategies.
It's also helpful to focus on competitors that are similar in size, product range, or services. At the same time, don’t shy away from analyzing industry leaders, even if they operate on a bigger scale. Studying their methods can offer insights into best practices while giving you a mix of realistic goals and aspirational ideas.
What are the best tools for benchmarking competitor social media performance, and how do I choose the right one for my business?
To measure how your competitors are performing on social media, it’s essential to use tools that offer detailed analytics, audience insights, and engagement metrics. These platforms can help you track key areas like follower growth, post performance, and how your competitors stack up. Choose tools that match your goals - whether that’s boosting engagement, spotting trends, or finding new content ideas.
When selecting a tool, think about your business needs, budget, and the features that matter most to you. For instance, if you run a small business, focus on affordable tools that provide the basics without being overly complicated. The key is to pick a tool that delivers insights you can easily act on to refine your strategy.
How can competitor analysis help improve my social media strategy and boost engagement?
Analyzing how your competitors perform on social media can offer a wealth of insights into effective strategies and potential pitfalls in your industry. By observing their successes - whether it's the type of content they share, how they engage with their audience, or the platforms they prioritize - you can fine-tune your own approach to better reach and connect with your followers.
Pay attention to patterns, like which posts spark the most engagement, how often they update their profiles, and where they seem to focus their efforts. These observations can serve as benchmarks, helping you adjust your content strategy, refine your posting schedule, and boost your overall engagement. The idea isn’t to mimic their tactics but to understand what resonates with your audience and use that knowledge to create something even better.
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