linkedin competitive analysis guide
Competitive Analysis LinkedIn Analytics

How to Start a LinkedIn Competitor Analysis: An A to Z Guide

Elena Cucu
Elena Cucu
Table of Contents

Competition is something desirable, no matter the industry you belong to. However, youโ€™d want to use your competitors as teachers and as a means to grow and develop a better marketing strategy on LinkedIn.

To that end, you should learn how to start a LinkedIn competitor analysis, and how to keep improving this process until it yields useful insights.

So let's go over the steps need to complete a LinkedIn competior analysis and the benefits it provides.

How to develop your LinkedIn competitor analysis

What is a competitive analysis on LinkedIn?
Why is a LinkedIn competitor analysis so important?
How to conduct a competitive analysis on LinkedIn
Best LinkedIn analytics tools
FAQs about LinkedIn competitor analysis

What is a competitive analysis on LinkedIn?

A competitor analysis on LinkedIn is the process through which you compare your LinkedIn performance with the one of your competitors. It's a way through which you look at your competitors and understand their strategy, campaigns, products, strengths and weaknesses compared to your own.

To keep your success in check and make sure your brand is on the right path, you should consider running a competitive analysis on LinkedIn every quarter and every year.

The insights you'll gather will be of much help for developing a better marketing strategy for your brand and better understand the requirements of your clients.

Why is a LinkedIn competitor analysis so important?

A comprehensive analysis of your competitors on LinkedIn can help you evaluate your performance, identify content trends, understand your audience's interests and create a better brand positioning strategy.

Here are a couple of reasons why running a LinkedIn competitive analysis is a smart move when looking for ways to improve your brand's content strategy.

The benefits of LinkedIn competitor analysis

  • Uncover your competitor's LinkedIn content strategies

It's important to pay attention to your competitors' LinkedIn marketing strategies, even if they make mistakes or have success stories to tell.

Take a close look at the type of content they use and how their audience engages with it. Observe how they interact with their followers and learn from their tactics.

To increase brand awareness and attract more leads, your content strategy should have a stronger baseline than your competitors. This will give you a competitive edge and help you stand out in the crowd.

  • Discover LinkedIn benchmarks

Analyzing your competitor's KPIs will help you gain a deeper understanding of your own metrics and of the market in general. ย This will further help you establish more accurate goals.

Starting from your most important metrics, such as engagement rate or followers' growth rate, you can uncover content performance trends that can help you better evaluate your current LinkedIn strategy.

linkedin benchmarks 2024 engagement rate by impressions
  • Get in-depth insights about how your industry is performing on LinkedIn

To gain in-depth insights about your market, your LinkedIn competitor analysis should be segmented into two parts - one focused on your direct competitors and the other focused on other players, the ones that make your indirect competition.

Pay attention to the hashtags they use to follow relevant discussions and content related to your niche, so that you don't miss any important developments.

Keep a close eye on how brands in your industry are introducing new trends and take note of their content campaigns.

The sooner you learn what's working and what's not, the faster you can implement the changes in your strategy and improve your LinkedIn engagement metrics.

Keeping up with the latest trends and updates in your industry might feel like a burden, but this process is definitely the spark that lights up the fire of success.

  • Keep up with the latest trends

A LinkedIn competitive analysis is not just about understanding the weaknesses or powerful points of your competitors, but also about discovering new trends on LinkedIn.

Here's how to collect data from your competition on LinkedIn to get trends for your page:

  • track your competitors' content over the years
  • tag and group LinkedIn content to spot industry trends
  • analyze their visuals to understand how the audience reacted to specific messages
  • monitor hashtags and mentions over the years
  • track individual profiles, such as the C-level people from your competitors
  • understand how fast your competitors respond to specific trends or campaigns
  • analyze what influencers or SME are posting. Identify the trending hashtags with higher views/posts.
  • pay attention to what their followers are reposting.

Gain deeper insights from LinkedIn's competitive analysis and analyze data within context.

How to conduct a LinkedIn competitive analysis

Now that we have broadly defined what a LinkedIn competitor analysis means, we can get started with the process.

#1. Establish the purpose of your research

First things first, you need to give your analysis a purpose to establish exactly what insights you want to retrieve at the end of your research.

Maybe you want to see what patterns your competitors follow when posting content, or maybe you want to debunk their marketing strategy based on their behavior.

You should also take a look at the way they interact with their clients and online community to learn some new tactics.

#2. Manually gather LinkedIn data from competitors

To gather LinkedIn metrics about your competitorโ€™s followers and engagement, head to the native app's analytics section.

There, under the Competitors tab, you will find yourself among your competitors, and you'll be able to instantly spot any major differences in terms of followers:

follower competitive analysis on linkedin

Or engagement:

engagement competitive analysis on linkedin

If you decide that you are going to do this without the native app's help, pick up a pen and paper or their digital equivalent: create a social media competitive analysis template. By the way, here's the template I created for Socialinsider's accounts.

First, you need to collect all the data from your competitorsโ€™ LinkedIn page.

Then check how many of their followers actually interact with their content. Now is the point for you to calculate the engagement rate.

Next, pay attention to how your competitors respond and interact with their followers.

Use all the data to develop a report that you will manually complete, using the insights youโ€™ve discovered.

#3. Analyze your competitorsโ€™ content

This part of your LinkedIn competitive analysis process requires you to pay attention to the hours your competitors post, the way they write their content, how they insert the keyword, the type of content they use the most. This data could inspire you to alter your brandโ€™s strategy in a better direction.

sprout linkedin post
  • See what hashtags they use

Another key aspect you should look at is related to hashtags. The hashtags they use for their LinkedIn content says a lot about the kind of users they manage to attract.

With those hashtags that work as keywords, a lot of LinkedIn users get to their content and, if they like it, they even interact with it.

Maybe you should explore the way hashtags work on LinkedIn too and learn how to efficiently use them for a constant evolution.

#4. Analyze your competitors' interactions on LinkedIn

Once in while, you should take a break from all the metrics and data, analyze the way your competitors interact with their prospective clients, leads and customers.

The way your rivals are interacting with their followers says a lot about their brand.

Try to learn from their mistakes and initiatives. Pay attention to the tone of voice they use and how fast they manage to answer customersโ€™ queries.

#5. Look at your competitorsโ€™ ads performance

After using all of LinkedIn's features for competitive analysis, navigate to the ads section to access paid campaigns.

By analyzing your competitors' paid content, you can determine your focus. Targeting your ads towards your audience's interests can increase engagement rates.

See whether their paid posts reach more people than the organic content. Depending on your conclusion, you may have some changes to make to your LinkedIn strategy.

linkedin ad library

4. Best LinkedIn analytics tools

Socialinsider is one of the best LinkedIn analytics tools available on the market. With Socialinsider, you can effortlessly keep track of important metrics like engagement, impressions, post clicks, video views, and post-level analytics, among others.

Additionally, you can easily understand how your LinkedIn content is performing by tagging and grouping your posts into specific content pillars. This will give you valuable insights on how to improve your content and engagement on LinkedIn.

socialinsider linkedin analytics tool
Socialinsider's LinkedIn analytics tool

  • Sprout Social

sprout analytics tool

Sprout Social is one of the top social media management tools that allow marketers to capture social media insights with ease, allowing them to create in-depth tailored performance reports with competitive insights included.

From industry analytics to competitive intelligence data, this tool's offerings significantly simplify running a competitive analysis.

Price: the standard package starts at $199/month.

  • Hootsuite

hootsuite social media management tool

Hootsuite is a powerful social media data tool that offers social media analytics and listening insights, altogether with a bunch of other features, such as content scheduling and AI content creation tools.

Enabling organic and paid data and metrics, this tool helps marketers identify which campaigns were the most successful across multiple social platforms, including LinkedIn, which is an important research pillar for competitive analysis.

Pricing: it starts at $99/month.

Final thoughts

A LinkedIn competitive analysis will have you winning not only a lot of experience with this social media platform, but also winning at your LinkedIn marketing game.

Learning what your competitors are doing and how they are handling their business is an opportunity for you to develop better content, better marketing strategies and better products to be one step ahead of them.

Hopefully this article on competitive analysis on LinkedIn is helpful enough for you to determine you to become better than the rest of the brands in your industry.

FAQs about LinkedIn competitor analysis

What metrics do you need to include in a LinkedIn competitor analysis?

When developing a LinkedIn competitor analysis, you need to look at the main KPIs to measure your competitor's performance. On your list of LinkedIn KPIs you should include:

  • engagement
  • impressions
  • follower growth
  • likes
  • comments
  • shares

How often should you perform a LinkedIn competitor analysis?

Performing a competitor analysis on LinkedIn should be done regularly to stay up-to-date on your industry's latest trends and strategies.

The frequency of this analysis will vary depending on your business needs and the pace of change in your industry, but it is generally recommended to conduct one every month or when a significant event occurs.

Elena Cucu

Elena Cucu

Content Manager @ Socialinsider

Content manager with 8 years of experience in marketing. I like to describe myself as a social butterfly with a curious mind, passionate about dancing and psychology.

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