TikTok has accumulated millions of downloads worldwide since its introduction in 2018. Brands and businesses are rushing to the platform to capitalize on the marketing opportunity. Since the platform is full of opportunities and competitions, it is essential to constantly optimize marketing and content strategy to maintain a competitive advantage.

Monitoring your competitors' performance is the key to increasing TikTok engagement. Competitive analysis involves more than simply evaluating how you compare against others. And it's certainly not about mimicking the competition. So how do you start? Simply follow the 5 steps to carry out an effective TikTok competitive analysis.

5 steps to track and analyze your TikTok competitors

1. Who is your competitors?

The number of users on TikTok has skyrocketed since the app's global popularity. You may stand out in TikTok's highly competitive environment if you choose your market segment and competitors wisely. On TikTok, there are plenty of comparable brands. However, using competitor analysis, you can identify the top rival brands in your industry.

Why identifying your competitors is important? You gain a deeper understanding of the advantages and disadvantages of your rivals by knowing who they are. There is a simple way to identify your opponents. Discover which brands your target audience is interested in. Check your audience’s following list and gain a list of potential competitors. Select up to five competitors to monitor and analyze. 

An easiest and effective way to search for your competitor is through third-party TikTok analytics viewer. For example, Shoplus enable its user to search for specific shop or influencer based on a range of filters (demographic, category, sales, etc.). You can find your rivals based on your preferred dimensions.

2. Analyze essential metrics

Determine the metrics you need to track after identifying your competitors' brands on this platform that Gen-Z loves. The purpose of competitor analysis is to measure progress. In order to gather data that is helpful to you, you must set up significant KPIs. Here are a few metrics to keep in mind when conducting a thorough competitor analysis. These metrics can be found in TikTok analytics.

- TikTok views

- Comments

- Likes

- Shares

- Engagement rate

- TikTok followers

- Content

- LIVE

To find further metrics of TikTok competitors, follow 2 easy steps below:

• Step 1: Enter your competitor into the search box, and add to favorite.

• Step 2: See the comprehensive stats of the chosen competitor

3. Who is their audience?

It's critical to research the TikTok audience base of your rivals. In most cases, your core audience is similar to that of your competitor. Thus, as you monitor their performance, look at who they are targeting. Discover which TikTok users engage with your competitor's content most often, and examine how they interact with the audience in depth. 

To have engaged audience is the key fundamental to future marketing potential. Once you notice what topics and types of online interactions keep them engaged, you can use that information for yours. 

4. Analyze their content strategy

It's crucial to analyze the competitor's content strategy. It not only assists you in identifying gaps in your content marketing strategy, but it also assists you in identifying popular trends and greater understanding your target audience.

You can keep track of their trending TikTok hashtags, content distribution, the length of the videos, posting frequency, etc. Try to understand their content type and messaging, and it will be easier to determine what your audience might be interested in from your competitor's content.

5. Keep an eye on their engagement strategy

A brand's visibility and connection with its audience are influenced by its engagement strategy. You can monitor your competitors on social media and learn how they determine what works for them. Regular observation allows you to quickly discover what is working for your rivals so that you can replicate their success and enhance the content quality of your brand. However, it is not necessary to copy directly from them. You may want to make some changes based on their strategy's rules.

Final Thoughts

To put together a powerful TikTok marketing strategy, you need to analyze your TikTok competitors. By conducting a competitive analysis, you can uncover valuable insights that will help you keep improving your social strategy and your business.

Shoplus' features can help your brand become a social media success by conducting a free TikTok competitor analysis. You can track, examine, and learn from your competitors' strategies by using Shoplus as a competitor analysis tool. Stay on top of your competitors by regularly assessing them.