1. Identify what you need to know
Asking the right questions before you start benchmarking is crucial—it ensures you’re comparing the right things, setting realistic goals, and actually getting insights that matter to your team. Here’s a list of smart, strategic questions to ask yourself before diving into competitive benchmarking:
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What is the goal of my benchmarking analysis?
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Who are my true competitors?
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What metrics or KPIs matter most to me and my team?
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Which period should I analyze?
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Which channels matter most for this comparison?
2. Identify your search terms
You will be able to prompt the AI Search Assistant with this information

3. Set up social connections in settings
There will likely be specific social accounts your competitors consistently post on that will be important to capture in your Explore search and reports (you’ve included these in the checklist in Step 2). You can do this through Monitored Connections in your settings.
Tip: If unsure how many Monitored pages you can connect, ask the Platform Assistant. Learn more about the Platform Assistant.
After connecting the accounts, add the hashtags associated with your brand and your competitor brands. Once everything has been added to your settings, add the account handles and hashtags to your Explore search. Learn more about this in Step 4.
4. Build your Competitor Searches
Creating separate searches for each of your competitors in Explore ensures their data is segmented in the dashboard we make in Step 9, allowing you to compare each competitor’s performance side-by-side with your brand.
The process for creating a competitor search is the same one you walked through when using the Brand Monitoring Toolkit – only this time, you’ll use the competitor keywords, handles, etc., you came up with in Step 2!
5.Understand your results
Monitor mentions of key trends for your brand and your competitors’ brands using Explore’s Brand Analytics. Track narratives, sentiment, and engagement, highlighting market shifts, new technologies, and evolving consumer behavior.
6. Save your Searches
To unlock all the other features of Meltwater, you will need to Save your competitor Searches. This video will walk you through how to do that.
7. Set up smart alerts
The video and guide below will walk you through creating Smart Alerts.
8. Monitor in Real Time
The videos below will walk you through setting up Digest Reports and your Monitor tab so you don't miss a beat.
9. Create Benchmark Dashboards and Reports
The video and how to guide below will walk you through how to create a benchmarking report in Analyze using the Benchmark Report Template.
Looking for Advanced Training
We recommend completing the Advanced Course
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Competitive Benchmarking & Analysis with Meltwater
Course4.5 average rating (2 reviews)This course will teach you the benefits of competitive benchmarking, how to setup Meltwater to enable competitive benchmarking, and how to analyze and share benchmarking insights across your organization.
Free
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