Social media audit is a strategy to evaluate your current social media marketing efforts to uncover possible growth opportunities to improve performance.
Social media audit includes the following activities:
Collecting the information on each of your social media accounts
Checking the relevancy for each of the accounts
Analyzing the performance of your posts
Crawling the metrics
Generating the report
You can conduct a social media audit in under 30 minutes for a buy email list australia social media profile if you have experience. Otherwise, it might take an entire day or even more to collect all information.
Social media audits precede social media campaigns. So, if you’re planning to hire an agency, they will insist on running the audit first before creating a strategy. Agencies typically charge from $300 to $5,000 for an audit. The price depends on your industry and the number of accounts being audited.
Social media marketing is extremely competitive. Only in the U.S., 71% of businesses use Instagram alone to drive traffic and engagement. That’s why you can’t proceed with social media marketing if you don’t know what your competitors are up to.
Competitor analysis provides you with valuable insights into your rival’s social media activity. It helps you assess their strengths and weaknesses, giving you ideas on advancing your social media presence.
Becoming well-informed about your competitors has the following advantages:
Defining a unique selling proposition
Enhancing a product or service
Identifying gaps in digital marketing strategy
Better risk management
Unfortunately, not all businesses see the value of doing competitor research before launching a social media marketing strategy. However, it can tip the scales in your favor and help create a social presence that will outshine your rivals.
How much does competitor analysis cost?
Many agencies already include this task in the social media marketing package. If you want to order it separately, the prices can go over $1,000, depending on the industry and niche. For instance, competitor analysis in the beauty and self-care niche will cost more because this market is very saturated.