How to run detailed Competitive Analysis in less than 1 minute

Do you want to see how is your Page performing? Compare it to its Competitors? See what is working for you and get inspiration from other within the industry (Category)? This is something that Sociject may run for you within 1 minute or less. How to get there?

Look at this example. We would like to compare Audi Czech Republic with its direct competitors.

  1. Login to Socijet with your Facebook credentials.
  2. In the top right corner hit icon with your photo and select “Manage Pages”. Choose green button “Add Page” and find the page you would like to compare. In our example it is “Audi Czech Republic”.
  3. Now hit the “Add Competitor” button and add all the competitors for your Page, one by one. In our example BMW, Ford, Mercedes Benz, Škoda…Screenshot_6
  4. Next step is either hit small blue button “go to analysis” at the right end of the row with Audi Czech Republic profile or select from main navigation “Analysis” (between Top 10 and Trends).
  5. Detailed Competitive Analysis is ready for you. You have also on one place all the Posts from Audi + all the competitors, you can review Post Types and look for some Inspiration.
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Note:

You do not need to be Page Admin in order to add new page to Socijet or see analysis, you even do not need to have access to Page Insights.

If the page doesn’t exist in Socijet yet, simple add it by inserting full URL address from Facebook (e.i. https://www.facebook.com/AudiCzechRepublic).

How we calculate “jetscore”?

Jetscore is our proprietary index to define performance of each Post. If you like word “engagement” more you can use it as well 😉 But we prefer “performance”, because it is really unclear to us how Facebook calculates Engagement Rate. Higher jetscore = better performing (or more engaging) content. And what is the formula?

( Likes + (Comments x 2) + (Shares x 5) ) / Page Likes x Penalty Index

By purpose we multiply Comments by 2 – commenting requires from user more activity, not equal to simple hitting the Like button. The same with Shares multiplied by 5 – sharing is even more important for Post performance (significantly improving Organic Reach).

What is the Penalty Index? Why is there?
It is simple. According to research small Pages (under 1000 Page Likes) are receiving from Facebook high Organic Reach, approx. 25%. And this is quite huge benefit because the Post is viewed by more people with higher chance to receive Likes, Comments or Shares. On the opposite side are Pages with over 1.000.000 Page Likes that are receiving much lower Organic Reach, approx. 3%. And we need to factor this somehow – penalize small Pages and give advantage to large Pages.

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Note:

Yes, we fully understand that Facebook is developing and Organic Reach is changing. We are aware of this, will monitor future development and we might adjust the Penalty Index to reflect recent situation.

Also we are carefully watching the Facebook announcements about the so called “Dislike” button (see the article on TechCrunch about 6 Empathetic Emoji) and once this will be launched globally we will immediately factor it into the jetscore to even improve its relevance.

How to use Categories

Every Facebook page in Sociject has to be assigned some Category. We decided not to follow categories that are build in into the Facebook because we feel they are too complicated, sometimes too specific and not very useful for purposes of market analysis and benchmarking. Thus we rather defined 25 own categories (we might add few more in future). Note: you can assign up to 3 categories to each Page and with combination be very specific.

But we are aware that even categories are sometimes too general and too wide. For this purpose you can assign to each page unlimited number of competitors and use this for statistics and comparison.

Some examples:

car manufacture like Volkswagen, Audi or BMW belong to two categories: Automotive and Brand

page about eshop with kids apparels should belong to three categories: E-Commerce, Fashion & Beauty & Health and Kids & Toddlers

profile on popstar should belong to two categories: Entertainment and People & Celebrities

popular restaurant should be Food & Beverages and Places & Local Businesses

When to post to maximize Engagement?

Jan Rezab (CEO and co-founder of Socialbakers.com) published quite interesting video about Twitter posting strategy. He is suggesting to do not schedule tweets for full hours because it hurts engagement. They had run analysis of 1000 brands active on Twitter. He is right and on the Facebook is the story pretty much the same.

How you can benefit from Socijet?

  1. Socijet will analyze your posting strategy on behalf of you. The tool will also compare the strategy with your competitors and whole category (because audience in Automotive might be different to Entertainment) and Country.
  2. Socijet will not only analyze the overall engagement but reflect best and worst performing posts. In case user shared with us Page Insights we will will factor into the analysis also clicks, video views and negative feedback.
  3. Remember that social media are changing everyday and behavior of people as well. That is why Socijet is running the ongoing analysis and algorithms are looking for these changes and trends.
  4. As the end user you do not need to run complicated analysis and watch the trends. Socijet will simply suggest what is the best strategy for you.

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