It was a regular Tuesday morning when I first decided to dive into the world of social media benchmarking. As someone who manages multiple social media accounts, I had always been curious about how my performance stacked up against my competitors. I knew that understanding this was crucial for crafting better strategies and staying ahead in the game. That’s when I discovered the power of AI in the benchmarking process, and it transformed my approach entirely.
Getting Started: Identifying Your Competitors
The first step in this journey was identifying my competitors. I began by listing down the brands and influencers in my niche. This was relatively straightforward as I was already familiar with the key players. However, I also used tools like Google Alerts and social media listening platforms to ensure I wasn’t missing out on any emerging competitors.
Gathering Data: The Role of AI
With a solid list of competitors, the next task was to gather data. This is where AI played a pivotal role. Traditional methods of data collection, like manually checking each competitor’s social media profiles, were time-consuming and prone to errors. Instead, I turned to AI-powered tools like Socialbakers and Sprout Social.
These tools utilise machine learning algorithms to scrape vast amounts of data from various social media platforms. They analyse metrics such as engagement rates, follower growth, post frequency, and even sentiment analysis. Within minutes, I had a comprehensive dataset that would have taken me weeks to compile manually.
Analysing the Data: Turning Information into Insights
Having a heap of data is one thing, but making sense of it is another. AI tools excel at this too. The platforms I used provided intuitive dashboards that visualised the data in easy-to-understand graphs and charts.
One of the most enlightening features was the benchmarking reports. These reports compared my performance metrics directly against those of my competitors. For instance, I could see at a glance how my engagement rate on Instagram was lower than the industry average, while my Twitter follower growth was above par.
Identifying Strengths and Weaknesses
With these insights, I was able to identify my strengths and weaknesses. I noticed that my competitors were posting more frequently on Instagram, which correlated with higher engagement rates. On the other hand, my Twitter strategy was outperforming most of my competitors. This pinpointed where I needed to focus my efforts.
Crafting a Data-Driven Strategy
Armed with this knowledge, I began crafting a new social media strategy. I decided to increase my Instagram posting frequency and experiment with different types of content to boost engagement. For Twitter, I planned to continue with my current strategy but added more live-tweeting during events, as the data showed this was a trend among top-performing accounts.
Monitoring Progress: Continuous Improvement with AI
Benchmarking is not a one-time activity; it’s an ongoing process. AI tools make it easy to continuously monitor performance and make adjustments. I set up automated reports to track my progress weekly. These reports highlighted any significant changes in my metrics and how they compared to my competitors.
One interesting trend I noticed was a competitor’s spike in engagement whenever they ran a particular type of campaign. Leveraging this insight, I experimented with a similar campaign, which resulted in a noticeable uptick in my own engagement metrics.
Leveraging Advanced Features: Predictive Analytics
One of the most exciting aspects of using AI tools is their predictive analytics capabilities. These tools don’t just tell you what has happened; they can also forecast future trends. For instance, based on historical data, the AI predicted optimal posting times and potential content themes that could resonate with my audience. This allowed me to stay ahead of the curve and fine-tune my strategy proactively.
Bringing It All Together
Through this journey, I learnt that AI is an invaluable ally in the benchmarking process. It efficiently collects and analyses large datasets, providing actionable insights that are crucial for refining social media strategies. By continuously monitoring and adjusting based on AI-driven data, I was able to enhance my social media performance and stay competitive in a dynamic landscape.
This experience underscored the importance of leveraging technology to make informed decisions. By integrating AI into my social media benchmarking efforts, I not only saved time but also gained a deeper understanding of my competitive position. Whether you’re a seasoned social media manager or just starting out, AI can significantly elevate your benchmarking efforts and drive your social media success.
