Competitor analysis in influencer marketing involves examining and understanding the ways in which competitors leverage influencers to enhance their brand. Here are some steps agencies often take in this analysis:

1. Identify Competitors: The first task is to identify who the key competitors are. This is generally done by looking at those who are vying for the same target audience or operating within the same industry.

2. Analyze Influencer Selection: They study the type of influencers their competitors work with. Are they micro-influencers or high-profile individuals? This helps in the understanding of the targeted audience’s preferences and potential influencers for their own brand.

3. Study Content: The type of content competitors share with influencers is crucial. Is it product-focused, lifestyle, or educational? This assists in determining the kind of content the audience responds to best.

4. Examine Engagement: They look at the level of engagement competitors are getting from influencers’ posts. High engagement levels indicate successful strategies they may want to incorporate in their own plan.

5. Review Frequency: The regularity of posts and collaborations can be meaningful. Too frequent may appear pushy, while too rare may fade the brand from memory.

It should be noted that the insights gained from this process should be used as a benchmark, not a strict guideline. Every brand is unique, and strategies should be tailored to reflect this.

Different platforms can facilitate this competitive analysis. For instance, Flinque offers comprehensive influencer analytics and campaign tracking, allowing you to understand more about your competitor’s influencer strategy. However, remember the best platform depends on your specific needs and goals.