In today’s digital age, social media has become an indispensable part of any business’s marketing strategy. With millions of active users on platforms like Facebook and Instagram, these platforms offer a tremendous opportunity for businesses to connect with their target audience. However, making a real impact on social media requires more than just posting content; it involves tracking your performance and comparing it against your competition. This is where benchmarking comes into play. In this blog post, we’ll explore the importance of benchmarking and guide you through the process of using the Meta Business FREE Tool to compare your social media performance on Facebook and Instagram against your competition.

The Importance of Benchmarking

Benchmarking is the process of comparing your own performance against industry standards or your competitors’ performance. When it comes to social media marketing, benchmarking offers a host of benefits:

1. Insight into your competitive landscape: Benchmarking helps you understand where you stand compared to your competitors. Are you ahead, falling behind, or on par with them in terms of engagement, reach, and other crucial metrics?

2. Identifying areas for improvement: By comparing your social media performance, you can pinpoint the areas where you excel and where you need to make improvements. This insight is invaluable for your social media strategy.

3. Setting realistic goals: Benchmarking provides a benchmark against which you can set realistic and achievable goals. This helps you establish a clear direction for your social media marketing efforts.

4. Keeping up with trends: The social media landscape is constantly evolving. Benchmarking keeps you informed about the latest trends in your industry and how your competitors are adapting to them.

Using the Meta Business FREE Tool for Benchmarking

Meta Business FREE Tool, which is available for businesses on Facebook and Instagram, provides an easy and efficient way to benchmark your social media performance against your competition.

Here’s a step-by-step guide on how to use it:

Step 1: Access the Meta Business Suite FREE Tool

In the “Insights” section, you will find various analytics and tools. Look for the “Benchmarking” option. Click on it to access the tool.

Step 2: Add Your Competition

In the ‘Benchmarking’ section, you will have the option to add your competitors’ businesses. Click on the “Add Businesses” button.

Enter the usernames or names of your competitors’ business accounts on Facebook and Instagram.

The tool will then fetch data related to your competitors’ social media performance.

Step 3: Analyse the Data

Once the tool has gathered the data, you’ll be presented with a range of metrics and insights. These may include follower growth and post-performance.

Compare your performance against your competitors by examining the data. Use the insights to inform your social media strategy, set achievable goals, and stay ahead in the competitive landscape.

Check the page like change, if your competitors page is growing faster then yours, then this might be a sign to go check out there page and explore what they are doing differently to you to achieve that growth.

Another good measure is to compare how often you are posting Vs your competition, if your competition is posting more frequently and achieving more page like growth it might be time to step up how often you are posting.

Remember, benchmarking is not a one-time task. It’s an ongoing process that should be part of your regular social media strategy. By continuously monitoring your performance and adapting to changes in the industry and your competitors, you’ll be better equipped to succeed in the dynamic world of social media marketing.

In conclusion, the Meta Business FREE Tool offers a valuable resource for businesses looking to benchmark their social media performance on Facebook and Instagram. Benchmarking is crucial for staying competitive, setting realistic goals, and improving your social media strategy.

By following the steps outlined in this guide, you can harness the power of benchmarking to enhance your social media marketing efforts and achieve better results.