When comparing businesses look at the success that they each achieve through social media. Several companies use software to value the results from different social media channels for example Facebook monitor the likes / comments or twitter use the “#” to search and likes to your business.
The next step would be to compare which platforms businesses use and understand why they have picked these particular platforms. Hopefully by using these results you can pick the best social media channel for your business.
Compare the audiences that businesses want to target and engage with and try to relate these findings to your own company. Another way to monitor how a business is using social media is by creating a comprehensive list of search terms relevant to your activities. This way you will find relevant posts to your business.
Facebook can be a good way to monitor a business as they have Facebook analytics. Facebook analytics has a great tool called Facebook Graph Search which can be used to find out what’s working for other brands on Facebook so that you can take the same route.